Iterum Therapeutics shares surge 20% after-hours after confirming Nasdaq delisting and commencing winding-up process.

Iterum Therapeutics surged 20% in after-hours trading following news that it will be delisted from Nasdaq after withdrawing its appeal of a prior delisting decision. The biopharmaceutical company announced its ordinary shares will be suspended from trading on April 1, 2026, due to its failure to maintain the $1.00 minimum bid price requirement. The delisting follows the company’s winding-up petition filed in Ireland and its acknowledgment of limited financial resources, which will prevent further SEC filings. While the delisting is a negative development, the after-hours price increase may reflect speculative trading amid the company's liquidation process and the potential for shareholder actions in the winding-up proceedings.