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Intangible Asset, Net | 9 Months Ended
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Sep. 30, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible Asset, Net | 7. Intangible Asset, net Intangible asset and related accumulated amortization are as follows:
|  | September 30, 2025 |  |  | December 31, 2024 |
Gross intangible asset |  | $ | 20,000 |  |  | $ | 20,000 |
Less: accumulated amortization |  |  | (1,290 | ) |  |  | (254 | )
|  | $ | 18,710 |  |  | $ | 19,746 |
On November 18, 2015, the Company and Iterum Therapeutics International Limited (ITIL), a wholly owned subsidiary of the Company, entered into the Pfizer License. Under the Pfizer License, ITIL agreed to make certain regulatory and sales payments, including a regulatory milestone payment of $20,000 to Pfizer upon approval of ORLYNVAH™ by the FDA for commercial sale in the United States. On October 25, 2024, the Company received FDA approval for ORLYNVAH™ (sulopenem etzadroxil and probenecid) for the treatment of uncomplicated urinary tract infections in adult women who have limited or no alternative oral antibacterial treatment options, and the regulatory milestone paym ent was capitalized on that date. The milestone payment is being amortized over a period of 14.4 years based on the patent life of ORLYNVAH™. The Company deferred this payment for a two-year period, at an annual rate of eight percent on a daily compounded basis until paid in full, which was amended and restated on May 13, 2025 for an additional three-year deferral period, at an annual rate of ten percent for the extended deferral period, beginning on October 26, 2026, as permitted pursuant to the terms of the Pfizer License. Amortization expense for the nine months ended September 30, 2025 was $1,036. The estimated future amortization related to intangible assets included on the condensed consolidated balance sheet as of September 30, 2025 for the following five fiscal years and thereafter were as follows:
Due in 12 month period ending Sept 30, |  |  |
2026 |  | $ | 1,389 |
2027 |  |  | 1,389 |
2028 |  |  | 1,389 |
2029 |  |  | 1,389 |
2030 |  |  | 1,389 |
Thereafter |  |  | 11,765 |
|  | $ | 18,710 |

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