Irish antibiotics specialist Itelm Therapeutics has begun winding down its operations, citing limited funds amid the expensive commercialization of Orinvar, its only approved product.
Itelm filed for dissolution in the Irish High Court on March 27th, and a hearing is scheduled for April 13th, the company said.
Itelm said its decision was based on its reduced cash supply, its inability to regain its Nasdaq listing and its difficulty finding a buyer for Aurimba, which is approved to treat certain bacterial urinary tract infections but has had “slow sales.”
The company’s stock will be suspended from trading starting April 1, according to a March 31 filing with the Securities and Exchange Commission.
The failure to unload Orlynvah was not for lack of effort. According to the release, Iterum negotiated with two potential suitors but was ultimately unable to close a deal.
“The company has determined that there are no reasonable avenues to enter into alternative strategic transactions outside of liquidation at this time,” Itelm said in a release.
Aurimva had a difficult road to approval, with the FDA concerned about the potential for “inappropriate use” of the drug to promote antibiotic resistance. This drug was the first approved oral version of a class of antibiotics called penems.
Iterum took its time launching Orlynvah, debuting the drug in August 2025, nearly a full year after winning approval. In the quarter, Iterum collected $400,000 from antibiotic sales while incurring $6.5 million in expenses, which the company attributed primarily to the launch of Orlynvah.
The company had $11 million in cash at the end of September, and CEO Corey Fishman outlined in a November release that he expects Auriba to generate profits of $5 million to $15 million in 2026.
In deciding to downsize, Iterum joins f5 Therapeutics, Lipella Pharmaceuticals, and IO Biotech, which also announced plans to close stores this month.
