Spero Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:02 pm EST
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Spero Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 25.47 million compared to USD 2.01 million a year ago. Net loss was USD 3.21 million compared to USD 11.68 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.33 a year ago.
For the nine months, revenue was USD 30.26 million compared to USD 6.07 million a year ago. Net loss was USD 28.39 million compared to USD 73.19 million a year ago. Basic loss per share from continuing operations was USD 0.54 compared to USD 2.16 a year ago.
Spero Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on focused on identifying and developing novel treatments for rare diseases and multi-drug resistant (MDR) bacterial infections with unmet need. Its lead product candidate, SPR720, is an oral antimicrobial agent in development for the treatment of nontuberculous mycobacterial (NTM) pulmonary disease, a rare orphan disease. Its partnership-directed programs consist of tebipenem HBr and SPR206. The tebipenem HBr is designed to be the oral carbapenem-class antibiotic for use to treat certain bacterial infections that cause complicated urinary tract infections (cUTIs), including pyelonephritis, caused by certain microorganisms, in adult patients who have limited oral treatment options. SPR206 is a direct acting intravenous (IV)-administered product candidate being developed as an option to treat MDR Gram-negative bacterial infections in the hospital setting.