NEW YORK, July 7, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Iterum Therapeutics plc («Iterum» or the «Company») (NASDAQ: ITRM). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Iterum and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 1, 2021, Iterum issued a press release «announc[ing] that the Company received a letter from the U.S. Food and Drug Administration (‘FDA’) stating that, as part of their ongoing review of the Company’s New Drug Application (‘NDA’) for sulopenem etzadroxil/probenecid, the agency has identified deficiencies that preclude the continuation of the discussion of labeling and post marketing requirements/commitments at this time.» The press release further stated that «[n]o details with respect to deficiencies were disclosed by the FDA in this notification and the letter further states that the notification does not reflect a final decision on the information under review.»
On this news, Iterum’s stock price fell $0.87 per share, or 37.99%, to close at $1.42 per share on July 2, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP