Iterum Therapeutics shares up 12% after-hours as delisting confirmed and trading suspended.

Iterum Therapeutics surged 12.0% in after-hours trading following news that the company will be delisted from Nasdaq after withdrawing its appeal of a prior delisting determination. The delisting comes after the company failed to maintain the $1.00 minimum bid price requirement. Iterum had previously requested a hearing to contest the delisting, but on March 27, it filed a petition in the High Court of Ireland to wind up the company and subsequently informed Nasdaq of its intent to withdraw the appeal. Trading will be suspended on April 1, 2026, and a Form 25-NSE will be filed to finalize the delisting. The unexpected move appears to have triggered a short-covering rally among traders.