Iterum Therapeutics Announces Extension of Term of Promissory Note

Core Viewpoint - Iterum Therapeutics has successfully negotiated an extension for a $20 million regulatory milestone payment from Pfizer until October 25, 2029, allowing the company to strategically invest in the launch of its antibiotic ORLYNVAH™ [1][2][3] Company Overview - Iterum Therapeutics focuses on developing next-generation oral and IV antibiotics to combat infections from multi-drug resistant pathogens in both community and hospital settings [1][4] - The company is advancing its first compound, sulopenem, which has shown potent in vitro activity against various resistant bacteria [4] Financial Arrangement - The original milestone payment was due in October 2026 but has been deferred by three years to October 2029 [2][3] - The annual interest rate on the promissory note has increased from 8% to 10% starting October 26, 2026 [3] - The company is restricted from incurring senior indebtedness or creating liens on its assets without Pfizer's consent [3] Product Information - ORLYNVAH™ is an oral penem antibiotic approved for treating uncomplicated urinary tract infections (uUTIs) caused by specific microorganisms [5] - The product has received Qualified Infectious Disease Product (QIDP) and Fast Track designations for its formulations in seven indications [4]