Spero Therapeutics, Inc. (SPRO) is an innovative clinical-stage biotherapeutics company engaged in the development and commercialization of products for the treatment of multi-drug-resistant bacterial infections. The company’s lead candidate product is tebipenem HBr or SPR994 is used for treating complicated urinary tract infections, including acute pyelonephritis. A pipeline product of the company is SPR720 used for treating nontuberculous mycobacterial disease. SPR206 is used for treating MDR Gram-negative infections.
The price of SPRO stock during the regular trading hours on January 14, 2022, with a significant increase of 10.65% was $13.2. At last check in the aftermarket, the stock further leaped by 4.7%.
SPRO: Events and Happenings
On January 04, 2022, SPRO reported about the lifting of clinical hold for the Phase 2 clinical studies of SPR720 by the FDA.
SPRO: CEO Comments
Speaking at the occasion, SPRO CEO Ankit Mahadevia said that the company’s extensive analysis in combination with previous data, sustain SPR720’s potential to offer oral treatment and well-tolerated preferred option.
On January 03, 2022, SPRO reported about the grant of priority review status and confirmation of the receipt for substantive review of the New Drug Application by FDA for tebipenem HBr oral tablets. The Agency had set a Prescription Drug User Fee Act action date to be June 27, 2022.
On November 17, 2021, SPRO reported that the company’s Executives presented at the Virtual 33rd Annual Piper Sandler Healthcare Conference held on November 29-December 2, 2021, and the Virtual Evercore 4th Annual ISI HealthCONx Conference, which is taking place virtually, 2021 through December 2, 2021, and November 30-December 2, 2021.
SPRO: Key Financials
On November 10, 2021, SPRO reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows
Revenue and Assets
Total revenue in Q3 2021 was $3.1 million as compared to the same period prior year when it was $4.0 million. Total assets reported in Q3 2021 were $144.6 million.
Net Loss per Share
Basic and diluted net loss in Q3 2021 was $22.5 million or $0.70 per share, against $18.9 million or $0.86 per share for the same period of 2020.
On October 28, 2021, SPRO reported about the submission to FDA for its new drug application for approval for tebipenem HBr tablets. On October 01, 2021, SPRO reported the grant of non-qualified stock option awards for the acquisition of up to 12,900 shares of the company’s common stock by the Compensation Committee of the company’s Board of Directors.
SPRO stock is 5.85% down compared to the last six months period, yet the company gained momentum in regular trading as well as aftermarket session due to uncertainty in the market environment. The analysts are believing that the company’s recent announcements regarding the lifting of a clinical hold by the FDA on its lead product and acceptance of another candidate product by the FDA be the main causes impacting the stock price.