Iterum Therapeutics plc (ITRMF): debt financing — Iterum extends $20M Pfizer milestone payment to Oct 2029; interest rises to 10%

Iterum Therapeutics plc

$20M regulatory milestone due Oct 2026 extended to Oct 2029 via amended promissory note.
Interest rate increases from 8% to 10%, compounded daily, starting Oct 26, 2026.
ITIL pays Pfizer a transaction fee plus legal expenses; no senior debt or liens without Pfizer consent.
CEO says extension allows capital to be invested in ORLYNVAH launch and geographic expansion.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Iterum Therapeutics plc amended debt of $20.0 million with Pfizer Inc. at ten percent (10%) on a daily compounded basis maturing October 25, 2029.

Principal: $20.0 million
Counterparty: Pfizer Inc.
Rate: ten percent (10%) on a daily compounded basis
Maturity: October 25, 2029
Event: amendment

Exact text from the filing

Therapeutics International Limited (“ITIL”) and Pfizer Inc. (“Pfizer” and such agreement, the “Pfizer License Agreement”), ITIL agreed to make a regulatory milestone payment of $20.0 million to Pfizer (the “Milestone Payment”) upon the approval of oral sulopenem for commercial sale in the United States by the U.S. Food and Drug Administration (“FDA”). The Company had

View on SEC.gov

73 debt financings filed in the last 30 days. Browse all debt financings →

Iterum Therapeutics plc filing history →

Source: SEC EDGAR

accession 0000950170-25-073950

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.