Iterum Therapeutics up 7% despite Q1 EPS miss

• Shares of Iterum Therapeutics (NASDAQ:ITRM) are up more than 7% in morning trading despite missing Q1 EPS estimates.
• The company's net loss widened significantly to $98.9M from $16.1M in the year-ago period.
• Q1 GAAP EPS of -$0.81 missed by $0.75.
• The company had no revenue.
• Iterum says its existing cash of $100.5M will allow it to extend its cash runway into 1H 2023.
• The company's next catalyst is July 25, the PDUFA date for oral sulopenem for uncomplicated urinary tract infections.
• A June 2 advisory committee date has been postponed as the FDA needs more review time.