Spero Therapeutics(US:SPRO)2025-03-28 00:31Financial Data and Key Metrics Changes - As of December 31, 2024, Spero had cash and cash equivalents of $52.9 million [22] - Total revenue for Q4 2024 was $15 million, down from $73.5 million in Q4 2023; total revenue for the year ended December 31, 2024, was $48 million compared to $103.8 million in 2023 [23] - R&D expenses for Q4 2024 were $28.8 million, up from $16.6 million in Q4 2023; for the year, R&D expenses were $97 million compared to $51.4 million in 2023 [24] - The company reported a net loss of $20.7 million for Q4 2024 and a net loss of $68.4 million for the year [25] Business Line Data and Key Metrics Changes - The tebipenem HBr program is the most advanced, currently in a Phase 3 trial aimed at treating complicated urinary tract infections [7] - SPR720, a novel gyrase B inhibitor, did not meet its primary endpoint in a Phase IIa proof-of-concept study [10][11] - Development of SPR206 has been discontinued following a thorough review and reprioritization [12] Market Data and Key Metrics Changes - There are an estimated 3.4 million episodes of complicated UTIs reported annually in the U.S., which are a leading cause of hospitalizations [14] - Complicated UTIs are often caused by multidrug-resistant pathogens, highlighting the need for effective treatments [15] Company Strategy and Development Direction - The primary focus for 2025 is the advancement of the tebipenem program, which could change the treatment paradigm for complicated UTIs by providing an oral option [8] - Following the completion of the tebipenem HBr Phase 3 trial, GSK is expected to take over regulatory and commercialization responsibilities [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about completing the interim analysis for the tebipenem trial in Q2 2025 and the potential for significant milestones from GSK [13][45] - The company is assessing the full data set from the SPR720 trial to determine next steps, indicating a cautious but proactive approach to its pipeline [41] Other Important Information - The company has approximately $47.5 million in earned and noncontingent development milestones from GSK, which will support operations into Q2 2026 [22] Q&A Session Summary Question: Does the trial get unblinded if the interim is successful? - Yes, if the interim is successful, the independent data monitoring committee will manage the unblinding process [29] Question: Is there any reason to keep running the trial longer even if the trial is positive early on? - Management cannot speculate on that until the interim analysis is completed [32] Question: What are the potential paths forward for SPR720? - The first step is to complete the data analysis of the full 25 patients dosed in the trial, which will inform the next steps [40]