Iterum Therapeutics shares surge 45.33% after-hours after announcing Nasdaq delisting and winding-up proceedings.

Iterum Therapeutics surged 45.33% in after-hours trading following the announcement that its ordinary shares will be delisted from Nasdaq after the company withdrew its appeal. The delisting, effective April 1, follows a prior determination that the stock failed to maintain the $1.00 minimum bid price requirement. The move comes as Iterum initiates a winding-up process in Ireland and ceases further SEC filings, indicating the company is ceasing active operations. The sharp price increase likely reflects speculative buying ahead of delisting and the limited regulatory future for the stock.