Welcome to our dedicated page for Spero Therapeutics news (Ticker: SPRO), a resource for investors and traders seeking the latest updates and insights on Spero Therapeutics stock.
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 has partnered with Pfizer to develop and commercialize SPR206, a treatment for multi-drug resistant bacterial infections, in territories outside the U.S. and Asia. Pfizer's $40 million equity investment in Spero will support the clinical development of SPR206 and SPR720, along with preparations for the NDA filing of tebipenem HBr. Spero stands to gain up to $80 million in milestone payments and royalties from SPR206 sales. The funding extends Spero's cash runway into late 2022, emphasizing the need for effective treatments for antimicrobial resistance.
Spero Therapeutics (Nasdaq: SPRO) has initiated two Phase 1 clinical trials for SPR206, a next-generation polymyxin aimed at treating multi-drug resistant (MDR) Gram-negative infections. The trials will assess SPR206's pharmacokinetics in pulmonary and renal impairments, critical for hospital-acquired pneumonia and ventilator-associated pneumonia treatment. Results are expected by early 2022, following previous Phase 1 data indicating a favorable safety profile and no nephrotoxicity. The trials are supported by the Department of Defense, marking a significant step in combating MDR infections.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced on May 28, 2021, the granting of 36,000 non-qualified stock options to seven new employees under the 2019 Inducement Equity Incentive Plan. The exercise price for these options is $14.50 per share, matching Spero's closing stock price on the grant date. Options will vest over four years, with 25% vesting after one year and the remainder monthly thereafter. This plan aims to attract and retain talent critical for developing treatments for multi-drug resistant infections and rare diseases.
Spero Therapeutics (Nasdaq: SPRO) announced funding of $2.09 million from the National Institute of Allergy and Infectious Diseases (NIAID) for the clinical development of SPR206, a next-generation polymyxin product targeting multi-drug resistant Gram-negative infections. The funding could total up to $21.3 million over five years, facilitating studies required for FDA approval, including pharmacokinetics and a Phase 2 proof-of-concept trial. The award underscores the program's external validation and highlights SPR206’s potential to address serious drug-resistant infections.
On May 13, 2021, Spero Therapeutics (Nasdaq: SPRO) announced that CEO Ankit Mahadevia will participate in a virtual fireside chat at the Berenberg Conference USA, scheduled for May 18, 2021, at 2:00 PM ET. The event will discuss Spero's focus on combating multi-drug resistant bacterial infections and rare diseases. Investors can access the chat through a provided webcast link. Spero's key product, tebipenem HBr, is being developed as the first oral carbapenem antibiotic for complicated urinary tract infections. More about Spero can be found on their website.
Spero Therapeutics, Inc. (Nasdaq: SPRO) reported its Q1 2021 financial results, showing a net loss of $19.4 million, improved from $23.3 million a year earlier. Total revenues surged to $7.3 million, up from $1.7 million, mainly due to a BARDA grant for tebipenem HBr. The company remains on track for an NDA submission of tebipenem HBr in H2 2021 after a successful pre-NDA meeting with the FDA. However, the Phase 2a trial of SPR720 is on hold due to non-human primate mortalities, leading to trial discontinuation while further data is analyzed.
Spero Therapeutics (Nasdaq: SPRO) announced the grant of non-qualified stock options to new employees, totaling 28,600 shares, as part of its 2019 Inducement Equity Incentive Plan. The stock options, awarded on April 30, 2021, have an exercise price of $13.76, equivalent to the closing price on that day. Each option will vest over four years, with 25% vesting after the first year. Spero focuses on developing treatments for multi-drug resistant infections and rare diseases, with its lead product candidate, tebipenem HBr, aimed at treating complicated urinary tract infections.
Spero Therapeutics (Nasdaq: SPRO) announced a conference call on May 6, 2021, at 4:30 p.m. ET to discuss its Q1 2021 financial results and provide a business update.
The company focuses on developing novel treatments for multi-drug-resistant infections and rare diseases, with its lead candidate, tebipenem HBr, showing positive Phase 3 trial results for complicated urinary tract infections. Spero is also developing SPR720 for orphan pulmonary diseases and SPR206 targeting MDR Gram-negative infections.
Spero Therapeutics announced on March 31, 2021, the grant of non-qualified stock options to purchase 22,050 shares of common stock as part of its 2019 Inducement Equity Incentive Plan. These options were awarded to three new employees to incentivize their employment with the company, complying with Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $14.72 per share, equal to the stock's closing price on the same day. The options vest over four years, contingent on the employees' continued service.
Spero Therapeutics (Nasdaq: SPRO) reported its fourth quarter and full-year 2020 financial results, highlighting significant progress in its drug development programs amidst COVID-19 challenges. The company plans to submit a New Drug Application (NDA) for tebipenem HBr in the second half of 2021 after successful Phase 3 trial results. In 2020, Spero faced a net loss of $78.8 million on $9.3 million in revenue, down from $18.1 million in 2019. Notably, expenses in R&D decreased, but G&A expenses rose due to increased staffing. Spero has $126.9 million in cash reserves, expected to sustain operations into Q2 2022.
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