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 a $125 million revenue interest financing with HealthCare Royalty Partners to enhance its cash runway into 2H 2023. The company will receive $50 million by October 21, 2021, with potential additional funds tied to FDA approval of its lead product, tebipenem HBr, for complicated urinary tract infections. The agreement will provide tiered royalties on revenues generated by tebipenem HBr and its other products. This strategic partnership aims to support Spero's clinical development and launch plans.
Spero Therapeutics (Nasdaq: SPRO) announced 23 data presentations at the IDWeek 2021, occurring virtually from September 29 to October 3, 2021. The presentations will focus on the in vitro and in vivo studies related to tebipenem HBr, an investigational oral antibiotic aimed at treating complicated urinary tract infections (cUTI) and acute pyelonephritis (AP). Notably, Spero's tebipenem HBr was highlighted for its potential as the first oral carbapenem antibiotic specifically for these conditions.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced that Ankit Mahadevia, M.D., CEO, will present at three upcoming virtual conferences: H.C. Wainwright 23rd Annual Global Investment Conference (Sept 13-15), Oppenheimer Fall Healthcare Life Sciences & MedTech Summit (Sept 20-23), and Cantor Virtual Global Healthcare Conference (Sept 27-30). Webcasts of these presentations will be available on-demand. Spero is focused on developing treatments for multi-drug resistant bacterial infections and rare diseases, notably its lead product candidate, tebipenem HBr.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced the grant of non-qualified stock options to purchase 98,300 shares of common stock to 7 new employees on August 31, 2021. This was conducted under the 2019 Inducement Equity Incentive Plan, as per Nasdaq's Rule 5635(c)(4). The options have an exercise price of $19.25, the same as the closing price on that date, and will vest over four years. Spero is focused on treatments for multi-drug-resistant infections and rare diseases, with notable candidates like tebipenem HBr for urinary tract infections and SPR720 for rare pulmonary diseases.
Spero Therapeutics announced notable developments including plans to submit an NDA for tebipenem HBr in Q4 2021 and a $40 million equity investment from Pfizer. The investment supports the licensing agreement for SPR206, aimed at treating multi-drug resistant infections. Despite a net loss of $18.6 million for Q2 2021, total revenues increased to $5.1 million, reflecting grants and collaborations. The company reported cash reserves of $99.2 million, expected to sustain operations into late 2022.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced the grant of non-qualified stock options to purchase a total of 114,600 shares to ten new employees under its 2019 Inducement Equity Incentive Plan. The options, priced at $13.34 per share, align with Nasdaq Listing Rule 5635(c)(4), serving as inducements for employment. The vesting period spans four years, with 25% vesting after the first year. Spero is focused on developing treatments for multi-drug-resistant infections and rare diseases, with key candidates including tebipenem HBr and SPR720.
Spero Therapeutics (Nasdaq: SPRO) announced a conference call scheduled for August 5, 2021, at 4:30 p.m. ET to discuss its Q2 2021 financial results and provide an update on its business and pipeline. The company is focused on developing treatments for multi-drug resistant bacterial infections and rare diseases. Its lead product, tebibenem HBr, is in a Phase 3 trial for complicated urinary tract infections. Archived webcasts will be available for 30 days post-call on their website.
Spero Therapeutics, a clinical-stage biopharmaceutical company (Nasdaq: SPRO), announced that Dr. Ankit Mahadevia will present at the virtual Ladenburg Thalmann Healthcare Conference on July 13, 2021, at 10:30 AM ET. The presentation will cover advancements in treatments for multi-drug resistant infections and rare diseases, including the lead product candidate, tebipenem HBr, aimed at urinary tract infections. Investors can register for the event via a provided link, and a replay will be available on Spero's website after the presentation.
Everest Medicines announced a licensing agreement between its partner Spero Therapeutics and Pfizer for SPR206, a new treatment for multi-drug resistant Gram-negative infections. Under this deal, Spero will receive up to $80 million in milestone payments and royalties on sales, alongside a $40 million equity investment from Pfizer. This partnership enhances the clinical development of SPR206 while maintaining Everest's exclusive rights in Greater China, South Korea, and certain Southeast Asian countries.
Spero Therapeutics, Inc. (Nasdaq: SPRO) announced the grant of non-qualified stock options for 85,650 shares to nine new employees on June 30, 2021. This grant, part of the 2019 Inducement Equity Incentive Plan, aims to incentivize new hires as per Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $13.96 per share and will vest over four years, with 25% vesting after one year. Spero focuses on treatments for multi-drug resistant infections and rare diseases, with lead product candidate tebipenem HBr showing promising clinical trial results.
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