BioCentury
ARTICLE | Financial News

Anti-infectives play Iterum raises $80M in IPO

May 25, 2018 2:27 AM UTC

Iterum Therapeutics plc (NASDAQ:ITRM) raised $80 million late Thursday through the sale of 6.2 million shares at $13 in an IPO underwritten by Leerink, RBC Capital Markets, Guggenheim and Needham. The price values Iterum at $181.5 million. Iterum slid $0.15 to $12.85 on Friday, its first day of trading.

Iterum priced the offering below its proposed range, but sold more shares than anticipated. Last week, the company proposed to sell 5.3 million shares at $14-$16. A sale of that many shares at the midpoint of $15 would have raised $80 million and valued the company at $197.1 million...

BCIQ Company Profiles

Iterum Therapeutics plc