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 (Nasdaq: SPRO) announced two poster presentations at the 33rd European Congress of Clinical Microbiology and Infectious Diseases (ECCMID) from April 15-18, 2023, in Copenhagen, Denmark. The presentations, both authored by RE Mendes, Ph.D., focus on the in vitro activity of SPR206 against bacterial infections, highlighting its potential against Enterobacterales and Pseudomonas aeruginosa isolates in Europe. These studies underscore Spero's commitment to addressing multi-drug resistant (MDR) infections and developing effective treatments. The research was sponsored by Spero and supported by the Office of the Assistant Secretary of Defense for Health Affairs. For more details, visit Spero's official site for key publications and presentations.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced the grant of 95,000 restricted stock unit awards (RSUs) to four new employees as part of the 2019 Inducement Equity Incentive Plan. This decision, made on March 23, 2023, aims to attract talent and is compliant with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four annual installments starting April 3, 2024, contingent on the employees' continued employment. Spero Therapeutics focuses on developing treatments for rare diseases and multi-drug resistant infections, with ongoing projects such as SPR720 and tebipenem HBr.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced the initiation of a Phase 2 trial for SPR720, targeting nontuberculous mycobacterial pulmonary disease (NTM-PD), with results expected in 1H 2024. The company secured a $66 million upfront payment through an exclusive license agreement with GSK for tebipenem HBr, alongside a $9 million equity investment. For 2022, Spero reported a net income of $26.8 million in Q4, and a full-year loss of $46.4 million, up from a loss of $89.8 million in 2021. Total revenues rose significantly to $53.5 million from $18.3 million, primarily driven by collaboration with GSK and Pfizer. Spero's cash position stood at $109.1 million as of December 31, 2022.
Spero Therapeutics, Inc. (Nasdaq: SPRO), a clinical-stage biopharmaceutical company, announced a rescheduling of its 2022 fourth quarter and full year earnings release from March 13, 2023, to March 30, 2023. The delay is due to ongoing evaluations of the accounting treatment related to a 2022 GSK transaction, necessitating additional time for audit completion and filing their Annual Report on Form 10-K for FY 2022. Following the earnings release, Spero will hold a conference call on March 30, 2023, at 4:30 p.m. ET to discuss financial results and provide updates on its pipeline.
Spero Therapeutics, Inc. (Nasdaq: SPRO), a clinical-stage biopharmaceutical company, announced a conference call scheduled for March 13, 2023, at 4:30 p.m. ET. The call aims to report its fourth quarter and full-year financial results while providing updates on its business and pipeline. Spero focuses on developing treatments for rare diseases and multi-drug resistant bacterial infections. Key candidates include SPR720 for non-tuberculous mycobacterial infections, Tebipenem HBr for complicated urinary tract infections, and SPR206, targeting multi-drug resistant Gram-negative infections.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced on February 22, 2023, that its Compensation Committee approved the grant of 180,000 restricted stock unit awards (RSUs) to a new employee under the 2019 Inducement Equity Incentive Plan. The RSUs are part of Spero's strategy to attract talent in the biopharmaceutical sector, particularly as the company focuses on developing treatments for rare diseases and multi-drug resistant bacterial infections. The RSUs will vest over four years, starting March 1, 2024, based on continued employment. Spero is known for its investigational therapies, including SPR720 and tebipenem HBr, addressing significant medical needs.
Spero Therapeutics, a clinical-stage biopharmaceutical company, announces participation in two major healthcare conferences. Ankit Mahadevia, CEO, will present at the Cowen 43rd Annual Healthcare Conference on March 7, 2023, and at the Oppenheimer 33rd Annual Healthcare Conference on March 14, 2023. These events will focus on Spero's development of treatments for rare diseases and multi-drug resistant bacterial infections, including the investigational drugs SPR720 and Tebipenem HBr. Both presentations will be accessible via webcasts, with replays available on Spero's website.
Spero Therapeutics (Nasdaq: SPRO) announced on January 27, 2023, that its Compensation Committee has approved the grant of 16,000 restricted stock unit awards (RSUs) to two new employees under the 2019 Inducement Equity Incentive Plan. This plan grants RSUs to new employees as an inducement in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest in four equal annual installments starting February 1, 2024, contingent on the employees' continued employment. Spero Therapeutics specializes in developing treatments for rare diseases and multi-drug resistant bacterial infections.
Spero Therapeutics (Nasdaq: SPRO) announced on December 19, 2022, that its Compensation Committee granted 155,000 restricted stock units (RSUs) to a new employee as part of the Spero Therapeutics 2019 Inducement Equity Incentive Plan. The RSUs, designed to incentivize new hires, will vest in four equal annual installments, starting January 3, 2024, contingent on the employee's ongoing role at Spero. The 2019 Inducement Plan allows for equity awards to individuals not previously employed by Spero, aligning with Nasdaq Rule 5635(c)(4).
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced the participation of CEO Ankit Mahadevia in a fireside chat at the 5th Annual Evercore ISI HealthCONx Conference from November 29 to December 1, 2022. The event will be virtual, with the chat scheduled for November 29 at 8:00 AM ET. A webcast link is provided for access. Spero Therapeutics is focused on developing treatments for rare diseases and multi-drug resistant bacterial infections, with notable product candidates including SPR720, tebipenem HBr, and SPR206.
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