Spero Therapeutics, Inc. - $SPRO STOCK NEWS

Spero Therapeutics (Nasdaq: SPRO) reported its Q1 2024 financial results and provided a business update. The company continues advancing its clinical pipeline, with key trials underway. Topline data for SPR720, aimed at treating NTM-PD, is expected in 2H 2024. The Phase 3 trial for tebipenem HBr in cUTI is ongoing, with enrollment completion targeted for 2H 2025. SPR206 received FDA Fast Track designation for HABP/VABP treatment.

Spero reported a net loss of $12.7 million for Q1 2024, a slight improvement from $13.3 million a year ago. Revenue surged to $9.3 million, primarily due to increased collaboration and grant revenues. R&D expenses rose to $17.3 million, reflecting heightened clinical activity. G&A expenses decreased to $5.9 million. The company's cash balance stands at $82.3 million, up from $76.3 million at year-end 2023, bolstered by a $23.8 million milestone payment from GSK. Spero's financial runway is expected to extend into late 2025.

Spero Therapeutics, Inc. (Nasdaq: SPRO) will report its first quarter 2024 financial results and business update on May 15, 2024. The company focuses on developing treatments for rare diseases and MDR bacterial infections.

Spero Therapeutics, Inc. announced the approval of 10,833 restricted stock unit awards to a new employee under the 2019 Inducement Plan. The RSUs will vest in four equal annual installments beginning on May 1, 2025, subject to the employee's continued employment.

Spero Therapeutics, Inc. (SPRO) announces financial results for Q4 and full year 2023, along with updates on SPR720 Phase 2a trial, Tebipenem HBr Phase 3 trial, and IND submission for SPR206. The company reiterates expected cash runway into late 2025.

Spero Therapeutics, Inc. (SPRO) will host a conference call to report Q4 and full year financial results, updating on its business and pipeline. The call is on March 13, 2024, at 4:30 p.m. ET. SPRO focuses on rare diseases and MDR bacterial infections.

Spero Therapeutics, Inc. (SPRO) receives FDA clearance for Phase 2 study of SPR206, a novel antibiotic for HABP/VABP caused by MDR Gram-negative bacterial infections. The drug aims to address unmet medical needs in treating serious infections. The study will evaluate safety, efficacy, and pharmacokinetics in combination with select antibiotics.

Spero Therapeutics, Inc. (SPRO) announced that its President and CEO will present at the Cowen 44th Annual Healthcare Conference. The company focuses on developing therapies for rare diseases and MDR bacterial infections. The presentation is scheduled for March 4, 2024, with webcast details provided.

Spero Therapeutics, Inc. (Nasdaq: SPRO) has announced the approval of 50,000 restricted stock unit awards (RSUs) for a new employee under the 2019 Inducement Equity Incentive Plan. The RSUs will vest in four equal annual installments beginning on February 1, 2025, subject to the employee's continued employment with Spero on such vesting dates.

Spero Therapeutics Inc. (SPRO) provided a corporate update highlighting its recent accomplishments and anticipated milestones for 2024. The company expects to provide Phase 2a topline proof-of-concept data from its lead program SPR720 in NTM-PD patients in 2H 2024. It has initiated dosing in the PIVOT-PO Phase 3 trial for tebipenem HBr in cUTI patients, with a target enrollment of approximately 2,648 patients, expected to be completed in 2H of 2025. Spero is entitled to receive $95 million in development milestones, payable over two years, as part of the GSK license agreement. The company's preliminary cash balance as of December 31, 2023, was approximately $76.3 million, with a cash runway guidance into late 2025.