Spero halts tebipenem HBr commercialization, cuts workforce 75%; shifts focus to SPR720/SPR206

Spero Therapeutics, Inc.

Immediately stopping tebipenem HBr commercialization after FDA indicated insufficient data for approval in current review cycle.
Workforce reduction of ~75% (from 146 to ~35 FTEs); expects ~$8M in severance costs in Q2 2022.
COO Cristina Larkin and CMO David Melnick separating; both to receive severance and remain as consultants for 10 months.
Focus shifts to Phase 2-ready programs SPR720 (NTM lung disease) and SPR206 (MDR Gram-negative infections).
Cash runway extended through late 2023; $146.4M in cash at Dec 31, 2021.

item 2.05 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Cristina Larkin

Chief Operating Officer

SPRO · Spero Therapeutics, Inc.

Effective: 2022-07-02
Filed: May 3, 2022, 7:59 PM ET

Chief Operating Officer Effective as of July 2, 2022 (the "Effective Date"), Cristina Larkin will separate from the Company as its Chief Operating Officer pursuant to the Restructuring.

Departed

David Melnick

Chief Medical Officer

SPRO · Spero Therapeutics, Inc.

Effective: 2022-07-02
Filed: May 3, 2022, 7:59 PM ET

Chief Medical Officer Effective as of the Effective Date, David Melnick, M.D. will separate from the Company as its Chief Medical Officer pursuant to the Restructuring.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Cristina Larkin departed as Chief Operating Officer at Spero Therapeutics, Inc..

Action: separated
Role: Chief Operating Officer

Exact text from the filing

Chief Operating Officer Effective as of July 2, 2022 (the "Effective Date"), Cristina Larkin will separate from the Company as its Chief Operating Officer pursuant to the Restructuring.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

David Melnick departed as Chief Medical Officer at Spero Therapeutics, Inc..

Action: separated
Role: Chief Medical Officer

Exact text from the filing

Chief Medical Officer Effective as of the Effective Date, David Melnick, M.D. will separate from the Company as its Chief Medical Officer pursuant to the Restructuring.

View on SEC.gov

Spero Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-137586

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