Spero Therapeutics Q3 net loss narrows to $11.7M; secures $75M from GSK license and equity investment

Spero Therapeutics, Inc.

2022-Q3 EPS reported -$2.16 revenue$6,068,000

Net loss $11.7M ($0.33/shr) vs $22.5M ($0.70/shr) in Q3 2021; revenue $2M down from $3.1M.
Cash $50.4M at Sep 30; post-Q3 received $9M GSK equity, $66M upfront invoiced; runway extended beyond 2024.
GSK license for tebipenem HBr closed; $66M upfront, $9M equity, up to $525M milestones plus tiered royalties.
SPR720 Phase 2 trial initiated for NTM pulmonary disease; top line data expected 1H 2024.
Kamal Hamed joined as CMO in Sep 2022; received inducement awards of 210k RSUs and 140k PSUs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Spero Therapeutics, Inc. reported financial results for the quarter ended September 30, 2022.

Period: the quarter ended September 30, 2022
Result: reported results

Exact text from the filing

On November 14, 2022, Spero Therapeutics, Inc. (the “Company”) issued a press release announcing its results for the quarter ended September 30, 2022.

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Spero Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-284579

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