Iterum Therapeutics (NASDAQ:ITRM) stock is taking off on Tuesday even without any news coming from the company.
ITRM stock is experiencing heavy trading today to go with its increase in price. That’s seen some 133 million shares of the stock change hands as of this writing. To put that in perspective, the company’s daily average trading volume is roughly 11.55 million shares.
So why exactly are investors taking such an interest in ITRM stock this morning? To put it simply, retail investors. The stock is among those that have been targeted by traders going after hedge funds shorting shares.
Keeping all of that in mind, investors will want to know more about Iterum Therapeutics before diving into ITRM stock. That’s where the overview below comes into play.
- Iterum Therapeutics is a clinical-stage pharmaceutical company.
- Its focus is on developing anti-infectives targeting multi-drug resistant (MDR) pathogens.
- There’s strong potential here as the Centers for Disease Control has stated that this is an area where current therapies are lacking.
- Iterum Therapeutics notes that more than 2 million people a year become ill due to MDR pathogens.
- It also says that this results in the deaths of roughly 23,000 patients per year.
- The company has multiple treatments that have completed Phase 3 clinical trials.
- Approval for some of these treatments could come this year and the commercilization process is already in the works.
ITRM stock was up 46.1% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.