Bragar Eagel & Squire, PC reminds investors that a class action lawsuit has been filed against Iterum Therapeutics plc and encourages investors to contact the firm
NEW YORK, 01 October 2021– (BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized law firm for shareholder rights, reminds investors that a class action lawsuit has been filed against Iterum Therapeutics plc (“Iterum” or the “Company”) (Nasdaq: ITRM) in the United States District Court for the Northern District of Illinois on behalf of all persons and entities who purchased or otherwise acquired Iterum securities between November 30, 2020 and July 23, 2021, both dates inclusive (the “Class Period”). Investors have until October 4, 2021 to ask the court to be named lead plaintiffs in the lawsuit.
Click here to join the action.
On July 1, 2021, Iterum issued a press release “announced[ing] that the Company has received a letter from [U.S. Food and Drug Administration (“FDA”)] stating that, as part of their ongoing review of the [sulopenem New Drug Application “NDA”], the agency identified gaps that prevent further discussion of labeling and post-market requirements / commitments at this time. “
Following this news, Iterum’s common share price fell $ 0.87 per share, or 37.99%, to close at $ 1.42 per share on July 2, 2021.
Then, on July 26, 2021, Iterum issued a press release announcing that it had received a full response letter from the FDA for sulopenem NDA, “provid[ing] that the FDA has completed its review of the NDA and has determined that it cannot approve the NDA in its current form.
Following this news, Iterum’s common share price fell $ 0.499 per share, or 44.16%, to close at $ 0.631 per share on July 26, 2021.
The complaint alleges that, throughout the Class Period, the Defendants made false and / or misleading statements and / or failed to disclose that: (i) Sulopenem (“NDA”) was missing data sufficient to warrant approval of treatment in adult women with urinary tract infections (“UTI”) caused by susceptible microorganisms designated, proven or strongly suspected to be non-sensitive to a quinolone; (ii) therefore, it was unlikely that the FDA would approve sulopenem NDA in its current form; (iii) the defendants downplayed the seriousness of the issues raised and the deficiencies associated with the NDA of sulopenem; and (iv) accordingly, the Company’s public statements were materially false and misleading at all material times.
If you have bought or acquired Iterum shares and suffered a loss, are a long-time shareholder, have information, want to know more about these claims or have questions regarding this announcement or your rights or interests in respect of these claims. questions, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at [email protected], by phone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211001005738/en/
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.