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Spero Therapeutics, Inc. (symbol: SPRO) is a clinical-stage biopharmaceutical company dedicated to the development of innovative therapies to combat multi-drug-resistant (MDR) bacterial infections and rare diseases. The company's mission is to bring novel treatments to patients who are in dire need of effective options against these challenging infections.
Core Business and Product Pipeline
Spero's lead product candidate is tebipenem pivoxil hydrobromide (tebipenem HBr), an oral carbapenem-class antibiotic designed to treat MDR Gram-negative infections in adults. This groundbreaking product addresses a critical need for effective oral therapies in the fight against resistant bacterial infections.
In addition to tebipenem HBr, Spero is also developing SPR720, a novel oral antibiotic aimed at treating pulmonary non-tuberculous mycobacterial (NTM) infections, a rare and often difficult-to-treat orphan disease. Furthermore, the company's pipeline includes SPR206, an investigational next-generation polymyxin product intended for intravenous administration in hospital settings to combat severe MDR Gram-negative infections.
Recent Achievements and Partnerships
Spero Therapeutics has made significant strides in its development programs. The company has secured a $95 million development milestone payable over two years as part of a licensing agreement with GSK, highlighting its potential and industry recognition. These funds are instrumental in advancing its clinical trials and bringing its innovative therapies closer to market.
Company Culture and Team
Spero Therapeutics prides itself on a culture of respect, action, collaboration, and transparency. The team comprises leaders in the field who are passionate about making a difference. This collaborative ethos ensures that every team member is not only contributing their expertise but also feeling like an integral part of the company's innovative journey.
In summary, Spero Therapeutics, Inc. is at the forefront of developing novel treatments for some of the most challenging and resistant bacterial infections. With its promising product pipeline and strong industry partnerships, the company is well-positioned to make a significant impact in the biopharmaceutical landscape.
Spero Therapeutics (SPRO) reported Q3 2024 financial results with a net loss of $17.1 million ($0.32 per share), compared to $3.2 million loss in Q3 2023. Revenue decreased to $13.5 million from $25.5 million year-over-year. The company's Phase 3 PIVOT-PO trial for tebipenem HBr remains on track for enrollment completion in 2H 2025. Following SPR720 development suspension and a 39% workforce reduction, cash position stands at $76.3 million, extending runway into mid-2026. R&D expenses increased to $26.9 million from $16.4 million, while G&A expenses decreased to $5.2 million from $5.7 million year-over-year.
Spero Therapeutics (Nasdaq: SPRO), a clinical-stage biopharmaceutical company specializing in treatments for rare diseases and multi-drug resistant bacterial infections, announced it will release its third quarter 2024 financial results on Thursday, November 14, 2024, after the market close. The company will also provide a business update at that time. Notably, Spero Therapeutics will not host a conference call to discuss the results.
Spero Therapeutics announced that its Phase 2a study of SPR720 for Nontuberculous Mycobacterial Pulmonary Disease failed to meet its primary endpoint. The interim analysis showed antimicrobial activity but insufficient separation from placebo, with safety concerns including three cases of reversible grade 3 hepatotoxicity. The company is suspending the SPR720 program and implementing a 39% workforce reduction.
The company reported an unaudited Q3 2024 cash balance of $76.3 million, with runway extended into mid-2026. The Phase 3 PIVOT-PO trial of tebipenem HBr remains on track for completion in 2H 2025.
Spero Therapeutics announced a poster presentation at IDWeek 2024 showcasing in vitro data on SPR719, the active moiety of SPR720, for treating nontuberculous mycobacterium pulmonary disease (NTM-PD). The study, conducted with Microbiologics, revealed:
1. SPR719's low propensity for resistance development in MAC NTM-PD strains, both alone and combined with standard care antibiotics.
2. High potency against macrolide susceptible and resistant MAC strains.
3. Mutation frequencies about 3 orders of magnitude lower than standard of care comparators.
4. No antagonism when combined with clarithromycin or ethambutol.
These findings highlight SPR720's potential for prolonged combination regimens in NTM-PD treatment.
Spero Therapeutics (Nasdaq: SPRO) has published data from its Phase 1 clinical trial assessing the intrapulmonary pharmacokinetics of SPR719, the active moiety of SPR720, in Antimicrobial Agents and Chemotherapy. The study, involving 33 healthy subjects, showed significant lung uptake and enhanced concentrations of SPR719 in epithelial lining fluid (ELF) and alveolar macrophages (AM).
Key findings include:
- SPR719 concentrations in ELF and AM were greater than total plasma concentrations
- No unexpected safety issues were observed
- Results support further investigation of SPR720 as a potential oral treatment for Non-Tuberculous Mycobacterial Pulmonary Disease (NTM-PD)
The company will present additional data on microbial resistance against SPR719 at IDWeek in October 2024.
Spero Therapeutics (Nasdaq: SPRO), a clinical-stage biopharmaceutical company focusing on rare diseases and multi-drug resistant bacterial infections, has announced its participation in two upcoming investor conferences in September 2024:
1. H.C. Wainwright 26th Annual Global Investment Conference in New York, NY (September 9-11, 2024)
- Presentation: September 10, 2024, 4:00 - 4:30 PM ET
2. Cantor's Global Healthcare Conference in New York, NY (September 17-19, 2024)
- Fireside Chat: September 17, 2024, 1:20 - 1:50 PM ET
Sath Shukla, President and CEO of Spero Therapeutics, will present at both events and be available for one-on-one meetings. Webcasts of both presentations will be accessible through Spero's website, with replays available after the events.
Spero Therapeutics (NASDAQ: SPRO) announced Q2 2024 results and provided a business update. Key highlights include:
- Enrollment concluded in Phase 2a trial of SPR720 for NTM-PD; preliminary data expected in Q4 2024
- New SPR720 in-vitro resistance data to be presented at IDWeek 2024
- CMO Kamal Hamed departing; John C. Pottage, Jr., M.D. appointed as Special Advisor
- Cash balance of $63.5 million as of June 30, 2024; runway into late 2025
- Q2 2024 net loss of $17.9 million, or ($0.33) per share
- Total revenue increased to $10.2 million in Q2 2024 from $2.7 million in Q2 2023
- R&D expenses increased to $23.7 million in Q2 2024 from $9.5 million in Q2 2023
Spero Therapeutics (Nasdaq: SPRO), a clinical-stage biopharmaceutical company focusing on rare diseases and multi-drug resistant (MDR) bacterial infections, has announced its upcoming second quarter 2024 financial results and business update. The company will host a conference call and live audio webcast on Monday, August 5th, 2024, at 4:30 p.m. ET.
Investors and interested parties can access the call by dialing 1-877-269-7751 (domestic) or 1-201-389-0908 (international) and referring to conference ID 13747505. Alternatively, they can request a return call or access the live audio webcast through the provided link. The webcast will also be available on Spero's Investor Relations webpage and archived for 30 days following the call.
Spero Therapeutics announced the approval of 227,500 restricted stock unit (RSU) awards to new employees. This grant was made under the company's 2019 Inducement Equity Incentive Plan and approved by the Compensation Committee of Spero's Board of Directors on May 28, 2024. The RSUs are provided as an inducement for new employees to join Spero, in line with Nasdaq Listing Rule 5635(c)(4). These RSUs will vest in four equal annual installments starting on July 1, 2025, contingent upon the employees' continued employment with Spero. The grants are governed by the terms of the 2019 Inducement Plan and respective RSU agreements.
Spero Therapeutics (Nasdaq: SPRO), a clinical-stage biopharmaceutical company, announced on June 3, 2024, that its Board's Compensation Committee approved the grant of 116,667 restricted stock units (RSUs) under its 2019 Inducement Equity Incentive Plan. The RSUs serve as an inducement for a new employee, in line with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest in four annual installments starting June 1, 2025, contingent on the employee's continued employment.
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