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Tag: SPRO Stock

  • Spero Therapeutics, Inc. (SPRO) Sees Surge in Pre-Market Trading

    Spero Therapeutics, Inc. (NASDAQ: SPRO), a pioneering biopharmaceutical company specializing in treatments for bacterial infections and rare diseases, experienced a remarkable pre-market surge on Thursday, following a static day on Wednesday. The stock exhibited a sudden climb of 15%, indicating significant investor interest. This surge appears to be directly linked to the recent earnings release.

    The company, founded by Ankit A. Mahadevia and Laurence Rahme in April 2013 and headquartered in Cambridge, MA, boasts a robust pipeline of product candidates including Tebipenem HBr, SPR720, and SPR206. Spero Therapeutics has been making strides in its development-stage assets, as highlighted in a recent statement by CEO, Sath Shukla.

    Optimism from CEO

    The CEO, Sath Shukla, expressed enthusiasm about the progress across the company’s portfolio, particularly highlighting the advancements in the Tebipenem HBr program, now in late-stage proof of concept studies. Additionally, the recent FDA clearance for SVR to six, a treatment for hospital-acquired or ventilator-associated pneumonia, further strengthens the company’s position.

    Of particular interest is Spero’s SPR720 program, aimed at addressing nontuberculous mycobacterial pulmonary disease (NTMPD). With approximately 245,000 diagnosed patients in developed markets, NTMPD presents a significant unmet medical need. SPR720, an oral drug with a novel mechanism of action, has shown promising results in early studies, demonstrating potency against multiple NTM pathogens and minimal resistance development.

    Positive Collaboration

    Furthermore, Spero’s collaboration with partners like GSK for carbapenem HBr and Pfizer for SPR206 underscores its commitment to addressing various infectious diseases.

    Esther Rajavelu, the company’s financial executive, provided insights into Spero’s financial standing, highlighting significant revenue growth primarily attributed to collaboration agreements with GSK and Pfizer. The company’s prudent financial management ensures sufficient funding for operational and capital needs well into late 2025.

    Conclusion

    In conclusion, Spero Therapeutics, Inc.’s remarkable surge in pre-market trading reflects growing investor confidence fueled by positive developments in its pipeline and financial stability. With promising candidates in its arsenal and a steadfast commitment to addressing critical medical needs, Spero remains a key player in the biopharmaceutical landscape.

  • How Is The SPRO Stock Moving So Fast, Jumping 35% Premarket Session?

    As of the last check, Spero Therapeutics Inc. (SPRO) shares were trading at $18.88, up 35.24% in premarket trading. As of Wednesday’s close, Spero was trading at $13.96 after gaining 0.22%. The volume of SPRO stock was 92.85K shares, lower than its average daily volume of 1.4 million shares within 50 days.

    Over the last 12 months, SPRO shares have increased by 3.18%, and they have decreased by -3.39% in the past week. It has shed -31.79% over the past six months, while SPRO stock has lost -5.16% in the past three months. Further, SPRO’s stock market value currently stands at $417.54 million and it had 29.41 million outstanding shares.

    Since after close of the market yesterday, the SPRO stock has surged following an announcement of equity investment and a licensing agreement.

    Who invested in SPRO’s equity?

    Spero is a multi-asset, clinical-stage biopharmaceutical company specializing in the identification, development and commercialization of novel treatments for multi-drug-resistant (MDR) bacterial infections and rare diseases. Tebipenem HBr is SPRO’s lead product candidate aimed at treating complicated urinary tract infections (cUTIs) and acute pyelonephritis (AP).

    In related news, Spero today announced that Pfizer Inc. will contribute $40 million to the company through its Breakthrough Growth Initiative, a program focusing on advancing patient care.

    • SPRO’s next-generation polymyxin product candidate SPR206 will also be licensed by both parties for treating serious multi-drug resistant (MDR) Gram-negative infections in hospitals when administered intravenously (IV).
    • As well as preparing for a potential approval and launch of tebipenem HBr, SPRO intends to use the proceeds from this investment to continue the clinical development of both SPR720 and SPR206.
    • According to the securities purchase agreement between the parties, Pfizer acquired 2,362,348 shares of SPRO common stock for $16.93 per share.
    • SPRO has granted Pfizer the right to develop, manufacture and market SPR206 in ex-U.S. under the terms of a licensing agreement. and ex-Asia territories.
    • These rights entitle SPRO to up to $80 million in milestones and royalties on SPR206 net sales in these territories, ranging from high single digits to low double digits.

    Does SPRO stand to benefit from the current developments?

    Spero (SPRO) will benefit from this equity investment to advance its SPR206 and SPR720 clinical programs and work towards submitting a new drug application for tebipenem-HBr. Pfizer’s advanced position will help SPRO successfully commercialize SPR206 on its terms in the Pfizer territories, as it is uniquely positioned to profitably develop this asset. SPRO expects its cash runway to extend into the second half of 2022 with the net proceeds of its recently announced $40 million equity investment.