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, Inc. (Nasdaq: SPRO) announced a conference call on March 11, 2021, at 4:30 p.m. EST to discuss its fourth quarter and full-year 2020 financial results as well as updates on its business and pipeline. The call will be accessible via phone or an audio webcast on the company’s website. Spero focuses on developing novel treatments for multi-drug-resistant bacterial infections and rare diseases, with key products including tebipenem HBr, a potential first oral carbapenem antibiotic for complicated urinary tract infections, and SPR720 for rare pulmonary diseases.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced that its CEO, Ankit Mahadevia, M.D., will present at two upcoming investor conferences in March 2021. The events include the Cowen 41st Annual Healthcare Conference on March 1, and the Oppenheimer 31st Annual Healthcare Conference on March 16. The presentations will focus on Spero's development of treatments for multi-drug resistant bacterial infections and rare diseases, including its lead candidate, tebipenem HBr, aimed at treating complicated urinary tract infections.
Spero Therapeutics (Nasdaq: SPRO) announced a clinical hold on its Phase 2a trial of SPR720, an oral antimicrobial agent for nontuberculous mycobacterial pulmonary disease. This action follows a pause in dosing due to concerns raised by an ongoing animal toxicology study, which observed mortalities in non-human primates. No serious adverse events have been reported in human trials, and the FDA is in discussions with Spero to evaluate findings. SPR720 has the potential to offer a new treatment option for patients with this rare disease.
Spero Therapeutics (Nasdaq: SPRO) announced on January 29, 2021, that its Board of Directors granted stock option awards totaling 74,300 shares to six new employees. This grant, made under the 2019 Inducement Equity Incentive Plan, complies with Nasdaq Listing Rule 5635(c)(4). The options, priced at $18.11 per share, will vest over four years. Spero is focused on developing treatments for multi-drug resistant infections and rare diseases, with key products including tebipenem HBr for complicated urinary tract infections and SPR720 for non-tuberculous mycobacterial infections.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced the issuance of U.S. Patent No. 10,889,587 for its oral carbapenem, tebipenem HBr, aimed at treating complicated urinary tract infections (cUTI) and acute pyelonephritis (AP). This patent protects its formulation and expires in February 2038. The company previously reported positive results from its Phase 3 clinical trial of tebipenem HBr in September 2020. With Qualified Infectious Disease Product status and fast track designation from the FDA, Spero plans to submit a New Drug Application in the second half of 2021.
Spero Therapeutics, Inc. (Nasdaq: SPRO) has appointed Satyavrat “Sath” Shukla as Chief Financial Officer, starting January 4, 2021. Shukla, with over 20 years of experience, previously served as CFO at Ziopharm Oncology and held significant roles at Vertex Pharmaceuticals. His expertise will support Spero's growth, particularly with the commercialization of tebipenem HBr and ongoing clinical trials for SPR720 and SPR206. The board has approved a stock option grant of 75,000 shares to Shukla as part of his inducement to join the company.
Spero Therapeutics (Nasdaq: SPRO) announced its addition to the NASDAQ Biotechnology Index (NBI), effective December 21, 2020. The NBI tracks biotechnology and pharmaceutical securities and serves as a benchmark for various ETFs. Spero is focused on developing treatments for multi-drug resistant bacterial infections and rare diseases. The company's lead product, tebipenem HBr, is the first oral carbapenem antibiotic for complicated urinary tract infections, with positive Phase 3 trial results announced in September 2020. Spero is also advancing other therapies for rare diseases.
Spero Therapeutics (Nasdaq: SPRO) has initiated dosing in a Phase 2a clinical trial of SPR720 for nontuberculous mycobacterial pulmonary disease (NTM-PD), targeting unmet medical needs. The trial will enroll ~90 patients, comparing SPR720 (500 mg or 1,000 mg) against placebo and standard care over 28 days. SPR720 shows promise as a first oral antibiotic for NTM-PD, with top-line data expected in H1 2022. It has orphan drug and Qualified Infectious Disease Product designations from the FDA, enhancing its market potential against increasing instances of drug-resistant infections.
Spero Therapeutics announced the appointment of Tamara Joseph as Chief Legal Officer effective December 2, 2020. Joseph brings over 20 years of experience in the biotechnology sector, having held leadership roles in various companies. Her expertise will support Spero in moving towards the potential commercialization of tebipenem HBr, which has shown positive results in clinical trials. The company's lead product, tebipenem HBr, is aimed at treating complicated urinary tract infections. A non-qualified stock option for 75,000 shares was granted to Joseph as part of her inducement to join.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced on November 30, 2020, the grant of non-qualified stock options for 76,200 shares to ten new employees under its 2019 Inducement Equity Incentive Plan. The options, with an exercise price of $16.57 per share, incentivize new hires aligned with Nasdaq Listing Rule 5635(c)(4). Each option will vest over four years, with 25% vesting after the first year and the remainder monthly. Spero focuses on treatments for multi-drug resistant infections and rare diseases, such as its lead candidate, tebipenem HBr, which showed positive results in a Phase 3 trial.
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