Spero Therapeutics Announces Third Quarter 2024 Operating Results and Provides a Business Update

Core Viewpoint - Spero Therapeutics is progressing well with its Phase 3 PIVOT-PO trial of tebipenem HBr, expecting to complete enrollment in the second half of 2025, while also managing its financial resources effectively to extend its cash runway into mid-2026 [1][2][10]. Pipeline Update - Tebipenem HBr is an investigational oral carbapenem antibiotic aimed at treating complicated urinary tract infections (cUTI), potentially reducing hospitalizations [3][4]. - The PIVOT-PO trial is a randomized, double-blinded study comparing oral tebipenem HBr with intravenous imipenem cilastatin, targeting approximately 2,648 patients [4]. - SPR206 is another investigational drug showing activity against multi-drug resistant Gram-negative pathogens, with plans for a Phase 2 trial pending funding [5][6]. Financial Results - For Q3 2024, Spero reported a net loss of $17.1 million, or ($0.32) per share, compared to a net loss of $3.2 million, or ($0.06) per share in Q3 2023 [10][18]. - Total revenue for Q3 2024 was $13.5 million, down from$25.5 million in Q3 2023, primarily due to lower collaboration revenues [10][18]. - Research and development expenses increased to $26.9 million in Q3 2024 from$16.4 million in the same period in 2023, attributed to higher clinical trial costs [10][18]. Corporate Update - Following the suspension of the SPR720 development program, Spero underwent a restructuring that included a 39% reduction in workforce, which has extended its cash runway into mid-2026 [9][10].