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Iterum Therapeutics prices IPO

Iterum Therapeutics Ltd. priced its IPO of 6,150,000 ordinary shares at $13 per share.

The company expects to raise gross proceeds of about $80 million through the offering, which is expected to close May 30, subject to customary closing conditions.

Underwriters have a 30-day overallotment option to buy up to an additional 922,500 ordinary shares.

The shares are expected to start trading May 25 on the Nasdaq Global Market under the symbol ITRM.

Leerink Partners and RBC Capital Markets are acting as joint book-running managers for the offering, with Guggenheim Securities as lead manager and Needham & Co. as co-manager.

Dublin-based Iterum Therapeutics develops anti-infectives for multi-drug resistant pathogens.