Business
Spero Therapeutics Announces First Quarter 2022 Operating Results and Provides Business Update
New Strategic Direction Focuses on Advancing the Clinical Stage Pipeline and Identifying Tebipenem’s Optimal Path to Value Creation Initiation of a Phase 2
About this update from Spero Therapeutics, Inc.
[{"type":"text","content":"New Strategic Direction Focuses on Advancing the Clinical Stage Pipeline and Identifying Tebipenem’s Optimal Path to Value Creation Initiation of a Phase 2 Trial of SPR720 in Nontuberculous Mycobacterial-Pulmonary Disease Expected in 2H 2022 SPR206’s Phase 1 Data Support Further Development in Complicated Urinary Tract Infection, Hospital-acquired and Ventilator-associated Bacterial Pneumonia, and Bloodstream Infections Conference Call and Live Webcast at 4:30 p.m. ET Today CAMBRIDGE, Mass., May 16, 2022 (GLOBE NEWSWIRE) -- Spero Therapeutics, Inc. (Nasdaq: SPRO) today announced financial results for the first quarter ended March 31, 2022 and provided a business update. “While our recent decision to restructure the company’s operations was immensely difficult, we remain optimistic about our future outlook,” said Ankit Mahadevia, M.D., Chief Executive Officer of Spero Therapeutics. “Our plan for Spero going forward is to focus on delivery of key clinical and regulatory milestones, clarify and execute the path forward for tebipenem, and do so while being good stewards of capital and continuing to pursue creative partnerships. Both SPR720 and SPR206 seek to address pressing unmet needs for patients with serious drug-resistant infections and are supported by robust clinical and preclinical datasets that we believe clearly differentiate them from competing approaches. We expect their advancement into Phase 2 trials in NTM-pulmonary disease and multi-drug resistant Gram-negative infections, respectively, will provide us with a steady cadence of value inflection points moving forward.” Dr. Mahadevia continued, “We also believe tebipenem HBr has the potential to deliver substantial clinical value to healthcare providers, payers, and patients, if approved. We are pleased to maintain stewardship of the asset and are committed to pursuing a potential path forward to regulatory approval, either independently or with a partner. As we look ahead, we believe the diverse nature of our multi-asset pipeline, together with cash runway through late 2023, leaves us positioned to execute on our strategic objectives.” Program Highlights and Upcoming Milestones SPR720: On January 4, 2022, Spero announced that the United States Food and Drug Administration (FDA) had lifted the clinical hold previously placed on the Phase 2 trial of SPR720, Spero’s inves...