share_log

Earnings Call Summary | Iterum Therapeutics(ITRM.US) Q1 2024 Earnings Conference

Futu News ·  May 14 03:56  · Conference Call

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

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment