The following is a summary of the Iterum Therapeutics Plc (ITRM) Q1 2024 Earnings Call Transcript:
Financial Performance:
Iterum Therapeutics reported a decrease in total operating expenses from $8.5 million in Q1 2023 to $6.2 million in Q1 2024.
R&D costs were down to $4 million in Q1 2024, from $6.4 million the previous year.
G&A costs increased slightly to $2.2 million in Q1 2024 from $2.1 million in Q1 2023.
The company improved its net loss on a GAAP basis from $9.9 million in Q1 2023 to $7.1 million in Q1 2024.
Non-GAAP net loss also improved from $7.4 million in Q1 2023 to $5.8 million in Q1 2024.
Cash, cash equivalents and short-term investments were reported at $18.2 million at the end of March 2024.
Business Progress:
Iterum Therapeutics has made significant progress in the resubmission of the New Drug Application (NDA) for Oral Sulopenem.
The company is awaiting FDA's review after the successful completion of a clinical trial.
Negotiations for strategic alternatives, such as selling or licensing its rights to Sulopenem, are ongoing.
FDA approval for Sulopenem is expected in early Q4 2024.
More details: Iterum Therapeutics IR
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