Business
Spero Therapeutics Announces Fourth Quarter and Full Year 2022 Operating Results and Provides Business Update
Initiated proof-of-concept Phase 2 trial of SPR720 in nontuberculous mycobacterial pulmonary disease (NTM-PD); top line data expected in 1H 2024 Exclusive
About this update from Spero Therapeutics, Inc.
[{"type":"text","content":"Initiated proof-of-concept Phase 2 trial of SPR720 in nontuberculous mycobacterial pulmonary disease (NTM-PD); top line data expected in 1H 2024 Exclusive license agreement with GSK for tebipenem HBr provided Spero with $66 million upfront, a $9 million direct equity investment, and eligibility for future milestone payments and tiered royalties Conference call and live webcast at 4:30 p.m. ET today CAMBRIDGE, Mass., March 30, 2023 (GLOBE NEWSWIRE) -- Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset clinical-stage biopharmaceutical company, focused on identifying, developing and commercializing treatments in high unmet need areas involving rare diseases and multi-drug resistant (MDR) bacterial infections, today announced financial results for the fourth quarter and full-year ended December 31, 2022, and provided a business update. “We were pleased to recently initiate our Phase 2 trial of SPR720 in NTM-PD,” said Ankit Mahadevia, M.D., Chief Executive Officer of Spero Therapeutics. “A key objective of the trial is to provide clinical proof-of-concept for SPR720 by demonstrating its ability to drive microbiological response against NTM as a single agent versus placebo. We believe achieving clinical proof of concept would substantially de-risk SPR720 and further demonstrate its potential to address the pressing unmet need for an effective, durable, and tolerable first-line therapy for patients with NTM-PD.” Dr. Mahadevia continued, “We were also delighted to close our exclusive license agreement with GSK for tebipenem HBr last quarter, adding strength to our balance sheet and shareholder base with a $66 million upfront payment, a $9 million equity investment, and potentially significant, near and long-term milestones and royalties. We believe our collaboration with GSK will help position tebipenem HBr to be the first potential oral treatment for complicated urinary tract infections. We also remain on track to advance SPR206 into an externally funded Phase 2 trial in patients with either hospital-acquired or ventilator-associated bacterial pneumonia, with an expectation to file the IND, later this year. This further demonstrates our ability to leverage creative partnerships to advance our multi-asset pipeline with a capital-efficient approach.” Full Year 2022 and Recent Program Highlights and Upcoming Milestones SPR720: Spero r...