Iterum Therapeutics plc received a delisting determination letter from The Nasdaq Stock Market LLC on February 24, 2026. The company is non-compliant with Nasdaq Listing Rule 5550(a)(2), requiring a minimum bid price of $1.00 per share. The company is also non-compliant with Nasdaq Listing Rule 5550(b)(2), requiring a minimum market value of listed securities of $35 million. Additionally, the company does not meet the requirements under Nasdaq Listing Rules 5550(b)(1) and 5550(b)(3) relating to minimum shareholders' equity or net income standards. Ordinary shares will be suspended from trading on Nasdaq effective at the open of business on March 5, 2026. Nasdaq intends to file a Form 25-NSE with the SEC to complete the delisting of the company's ordinary shares. The company is considering appealing Nasdaq's delisting determination to an independent Nasdaq Hearings Panel. The company continues to evaluate corporate, strategic, and financial alternatives. Given the company's limited ability to raise additional capital, these alternatives include the possibility of a wind-down of operations and potential bankruptcy, liquidation, or similar proceedings. In such an outcome, shareholders would be very unlikely to receive any meaningful distribution or return on their investment. The company may also file a Form 15 with the SEC to suspend its reporting obligations after the delisting becomes effective.