Iterum Therapeutics Grants Share Option to Chief Commercial Officer Christine Coyne as Part of Employment Agreement

Iterum Therapeutics grants 200,000 share options to new CCO Christine Coyne as part of her employment compensation.

Quiver AI Summary

Iterum Therapeutics plc has announced the granting of a non-statutory share option for 200,000 ordinary shares to Christine Coyne, the newly appointed Chief Commercial Officer, as part of her employment compensation. This grant, effective July 1, 2025, is in accordance with Nasdaq's inducement grant exception and has an exercise price of $0.97 per share, which matches the closing price on the grant date. The share option has a 10-year term and will vest over four years, with the first 25% vesting on the first employment anniversary, and the remainder vesting monthly. The grant was approved by the Compensation Committee and is linked to Iterum's commitment to developing innovative anti-infectives, particularly focusing on its compound sulopenem, recently approved for treating uncomplicated urinary tract infections.

Potential Positives

Iterum Therapeutics has successfully appointed Christine Coyne as the new Chief Commercial Officer, indicating a strategic move to strengthen its leadership team.
The company granted a significant share option of 200,000 ordinary shares to Ms. Coyne, aligning her compensation with the company's performance and growth potential.
Iterum's NDA approval for ORLYNVAH™ marks a critical milestone in its efforts to provide innovative solutions for multi-drug resistant infections, enhancing its product portfolio.
The recognition of sulopenem with Qualified Infectious Disease Product (QIDP) and Fast Track designations highlights its potential impact in addressing urgent medical needs, which could facilitate development and market access.

Potential Negatives

The grant of a substantial share option to a new executive may raise concerns regarding compensation practices, particularly in a time when profitability and company performance may be scrutinized.
The share option's vesting conditions tied to continued employment could be perceived as a risk in retaining talent, especially if the company's performance does not improve in line with investor expectations.
Granting share options under the inducement provision may signal that the company is struggling to attract talent without offering significant incentives, which could raise red flags among investors.

FAQ

What is the recent share option grant by Iterum Therapeutics?

Iterum Therapeutics granted a 200,000 share option to Christine Coyne, their new Chief Commercial Officer, as part of her employment compensation.

What is the exercise price for the share option granted to Christine Coyne?

The exercise price for the share option is $0.97 per share, equal to Iterum's closing price on the grant date.

How long is the vesting period for Christine Coyne's share option?

The share option vests over four years, with 25% vesting on the first anniversary and the rest monthly thereafter.

What is the significance of the inducement grant exception?

The inducement grant exception allows Iterum to provide share options to new hires to incentivize their acceptance of employment.

What is the focus of Iterum Therapeutics?

Iterum is focused on developing next-generation antibiotics to combat multi-drug resistant pathogens and improve treatment for serious infections.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

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ONEDIGITAL INVESTMENT ADVISORS LLC added 101,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $124,230
CITADEL ADVISORS LLC removed 21,207 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $26,084
TWO SIGMA SECURITIES, LLC added 10,709 shares (+inf%) to their portfolio in Q1 2025, for an estimated $13,172
JANE STREET GROUP, LLC removed 10,262 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $12,622
UBS GROUP AG added 5,625 shares (+183.0%) to their portfolio in Q1 2025, for an estimated $6,918
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Full Release

DUBLIN and CHICAGO, July 02, 2025 (GLOBE NEWSWIRE) -- Iterum Therapeutics plc (Nasdaq: ITRM) (“Iterum” or the “Company”), a company committed to delivering next generation oral and IV antibiotics to address infections caused by multi-drug resistant pathogens, today announced that it has granted a non-statutory share option to purchase an aggregate of 200,000 ordinary shares of Iterum to Christine Coyne, Iterum’s newly appointed Chief Commercial Officer. This grant was awarded pursuant to the Nasdaq inducement grant exception as a component of new hire employment compensation.

The share option was granted effective July 1, 2025, with an exercise price of $0.97 per share, which is equal to the closing price of Iterum’s ordinary shares on the date of grant. The share option has a 10-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the date of commencement of employment and the remaining shares vesting monthly thereafter over the subsequent 36 months, in equal amounts until fully vested, subject to Ms. Coyne’s continued service with the Company through the applicable vesting dates. The share option was approved by the Compensation Committee of the Iterum board of directors and was granted as an inducement material to Ms. Coyne’s acceptance of employment in accordance with Nasdaq Listing Rule 5635(c)(4). The Share Option is subject to the respective terms and conditions of a share option agreement covering the grant and Iterum’s 2021 Inducement Equity Incentive Plan.

About Iterum Therapeutics plc
Iterum is focused on delivering differentiated anti-infectives aimed at combatting the global crisis of multi-drug resistant pathogens to significantly improve the lives of people affected by serious and life-threatening diseases around the world. Iterum is advancing the development of its first compound, sulopenem, a novel penem anti-infective compound, with an oral formulation and IV formulation. Sulopenem has demonstrated potent in vitro activity against a wide variety of gram-negative, gram-positive and anaerobic bacteria resistant to other antibiotics. Iterum has received approval of its NDA for ORLYNVAH™ (oral sulopenem) for the treatment of uncomplicated urinary tract infections caused by the designated microorganisms Escherichia coli , Klebsiella pneumoniae , or Proteus mirabilis in adult women with limited or no alternative oral antibacterial treatment options by the FDA and has received Qualified Infectious Disease Product (QIDP) and Fast Track designations for its oral and IV formulations of sulopenem in seven indications. For more information, please visit www.iterumtx.com .

About ORLYNVAH™

ORLYNVAH™ is a novel oral penem antibiotic for the treatment of uUTIs. ORLYNVAH™ possesses potent activity against species of Enterobacterales including those that encode extended spectrum beta-lactamase (ESBL) or AmpC-type beta-lactamases that confer resistance to third generation cephalosporins.

Investor Contact:
Judy Matthews
Chief Financial Officer
312-778-6073