Docoh
Loading...

SPRO Spero Therapeutics

Spero Therapeutics, Inc. is a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments for multi-drug-resistant (MDR) bacterial infections and rare diseases.

Company profile

Ticker
SPRO
Exchange
CEO
Ankit Mahadevia
Employees
Incorporated
Location
Fiscal year end
Former names
Spero Therapeutics, LLC
SEC CIK
Subsidiaries
New Pharma License Holdings • Spero Cantab, Inc. • Spero Cantab UK Limited • Spero Europe, Ltd. • Spero Legacy STI, Inc. • Spero Potentiator, Inc. • Spero Potentiator PTY LTD • Spero Securities Corporation ...

SPRO stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 21
21 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 71.56M 71.56M 71.56M 71.56M 71.56M 71.56M
Cash burn (monthly) 1.83M (positive/no burn) 6.18M 6.31M 5.52M 5.81M
Cash used (since last report) 6.78M n/a 22.93M 23.42M 20.48M 21.54M
Cash remaining 64.79M n/a 48.64M 48.14M 51.08M 50.02M
Runway (months of cash) 35.5 n/a 7.9 7.6 9.2 8.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Sep 21 Aquilo Capital Management Common Stock, $0.001 par value Buy Acquire P Yes No 18.6496 134,543 2.51M 4,563,688
14 Sep 21 Aquilo Capital Management Common Stock, $0.001 par value Buy Acquire P Yes No 18.4937 2,156 39.87K 4,429,145
13 Sep 21 Aquilo Capital Management Common Stock, $0.001 par value Buy Acquire P Yes No 18.5631 44,210 820.67K 4,426,989
9 Sep 21 Aquilo Capital Management Common Stock, $0.001 par value Buy Acquire P Yes No 18.4974 24,749 457.79K 4,382,779
31 Aug 21 Aquilo Capital Management Common Stock, $0.001 par value Buy Acquire P Yes No 18.9261 48,645 920.66K 4,358,030
30 Aug 21 Aquilo Capital Management Common Stock, $0.001 par value Buy Acquire P Yes No 17.8661 44,042 786.86K 4,309,385

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

83.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 88 95 -7.4%
Opened positions 14 18 -22.2%
Closed positions 21 12 +75.0%
Increased positions 28 27 +3.7%
Reduced positions 21 26 -19.2%
13F shares
Current Prev Q Change
Total value 419.82M 655.3M -35.9%
Total shares 26.74M 25.45M +5.1%
Total puts 50.4K 97.2K -48.1%
Total calls 68.1K 50.6K +34.6%
Total put/call ratio 0.7 1.9 -61.5%
Largest owners
Shares Value Change
Aquilo Capital Management 3.83M $53.46M 0.0%
Biotechnology Value Fund L P 2.77M $53.68M 0.0%
PFE Pfizer 2.36M $32.98M NEW
BVF 2.14M $29.85M 0.0%
BLK Blackrock 1.78M $24.83M +0.1%
GSK Glaxosmithkline 1.74M $24.18M 0.0%
Atlas Venture Associates IX 1.38M $19.22M 0.0%
Atlas Venture Fund IX 1.38M $26.7M 0.0%
Vanguard 1.28M $17.82M +15.4%
Atlas Venture Fund X 1.03M $20.98M 0.0%
Largest transactions
Shares Bought/sold Change
PFE Pfizer 2.36M +2.36M NEW
STT State Street 810.74K -545.81K -40.2%
Assenagon Asset Management 0 -181.58K EXIT
Vanguard 1.28M +170.09K +15.4%
GS Goldman Sachs 136.26K -119.54K -46.7%
MS Morgan Stanley 69.77K -119.18K -63.1%
Geode Capital Management 413.76K +50.15K +13.8%
Alyeska Investment 0 -49.6K EXIT
JPM JPMorgan Chase & Co. 115.86K +47.29K +69.0%
C Citigroup 39.33K -46.62K -54.2%

Financial report summary

?
Risks
  • We have not generated any revenue from the sale of our products, have a history of losses and expect to incur substantial future losses. The report of our auditor on our consolidated financial statements expresses substantial doubt about our ability to continue as a going concern; if we are unable to obtain additional capital, we may not be able to continue our operations on the scope or scale as currently conducted, and that could have a material adverse effect on our business, results of operations and financial condition.
  • We expect that we will need substantial additional funding. If we are unable to raise capital when needed, or do not receive payment under our government awards, we could be forced to delay, reduce or eliminate our product development programs or commercialization efforts.
  • Our ability to use our net operating loss carryforwards may be limited.
  • We have a limited operating history and no history of commercializing pharmaceutical products, which may make it difficult to evaluate the prospects for our future viability.
  • We are heavily dependent on the success of tebipenem HBr, which is still under development, and our ability to develop, obtain marketing approval for and successfully commercialize tebipenem HBr. If we are unable to develop, obtain marketing approval for and successfully commercialize tebipenem HBr, or if we experience significant delays in doing so, our business could be materially harmed.
  • If clinical trials of product candidates that we advance to clinical trials fail to demonstrate safety and efficacy to the satisfaction of the FDA or comparable foreign regulatory authorities or do not otherwise produce favorable results, we may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development and commercialization of such product candidates.
  • If we experience delays or difficulties in the enrollment of patients in clinical trials, clinical development activities could be delayed or otherwise adversely affected.
  • To support our accelerated clinical development strategy for tebipenem HBr, we are relying, in part, on clinical data from two exploratory Phase 2 clinical trials conducted by Meiji (ME1211) and Global Pharma (L-084 04) in Japan, which were not conducted in accordance with FDA guidance for clinical trials in patients with cUTI. To the extent that these clinical trial design differences limit our use of the clinical data, our proposed clinical trial plan for tebipenem HBr with the FDA could be materially delayed and we may incur material additional costs.
  • Preliminary or interim data from our clinical studies that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • Serious adverse events or undesirable side effects or other unexpected properties of tebipenem HBr or any other product candidate may be identified during development or after approval that could delay, prevent or cause the withdrawal of regulatory approval, limit the commercial potential, or result in significant negative consequences following marketing approval.
  • We may expend our limited resources to pursue a particular product candidate or indication and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • If we are unable to establish sales, marketing and distribution capabilities or enter into sales, marketing and distribution agreements with third parties, we may not be successful in commercializing tebipenem HBr or any other product candidate if such product candidate is approved.
  • Even if we are able to commercialize tebipenem HBr or any other product candidate, the product may become subject to unfavorable pricing regulations, or third-party payor coverage and reimbursement policies that could harm our business.
  • We cannot predict whether bacteria may develop resistance to tebipenem HBr or our other product candidates, which could affect their revenue potential.
  • If we are not successful in discovering, developing and commercializing additional product candidates, our ability to expand our business and achieve our strategic objectives would be impaired.
  • Product liability lawsuits against us could divert our resources, cause us to incur substantial liabilities and limit commercialization of any products that we may develop.
  • If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on our business.
  • Our internal computer systems, or those of our contract research organizations or other contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our product development programs, and could subject us to liability.
  • We or third parties upon whom we depend may be adversely affected by natural disasters and/or health epidemics, and our business, financial condition and results of operations could be adversely affected.
  • We expect to depend on collaborations with third parties for the development and commercialization of some of our product candidates. Our prospects with respect to those product candidates will depend in part on the success of those collaborations.
  • We may have to alter our development and commercialization plans if we are not able to establish collaborations.
  • Our use of government funding for certain of our programs adds complexity to our research and commercialization efforts with respect to those programs and may impose requirements that increase the costs of commercialization and production of product candidates developed under those government-funded programs.
  • United States government agencies have special contracting requirements that give them the ability to unilaterally control our contracts.
  • Our business is subject to audit by the United States government and other potential sources for grant funding, including under our contracts with BARDA, NIAID and DoD, and a negative outcome in an audit could adversely affect our business
  • Provisions in our United States government contracts, including our contracts with BARDA, may affect our intellectual property rights.
  • If we are unable to obtain and maintain sufficient patent protection for our technology or our product candidates, or if the scope of the patent protection is not sufficiently broad, our competitors could develop and commercialize technology and products similar or identical to ours, and our ability to successfully commercialize our technology and product candidates may be adversely affected.
  • We may become involved in lawsuits to protect or enforce our patents or other intellectual property, which could be expensive, time consuming and unsuccessful.
  • If we are sued for infringing intellectual property rights of third parties, or otherwise become involved in disputes regarding our intellectual property rights, such litigation could be costly and time consuming and could prevent or delay us from developing or commercializing our product candidates.
  • We may be subject to claims that we or our employees, consultants or contractors have misappropriated the intellectual property of a third party, or claims asserting ownership of what we regard as our own intellectual property.
  • We have registered trademarks and pending trademark applications. Failure to enforce our registered marks or secure registration of our pending trademark applications could adversely affect our business.
  • If we are not able to obtain, or if there are delays in obtaining, required regulatory approvals, we will not be able to commercialize tebipenem HBr or our other product candidates, and our ability to generate revenue will be materially impaired.
  • In March 2020, the FDA granted orphan drug designation for SPR720. We may seek orphan drug designation for certain of our other product candidates. We may not be able to obtain or maintain orphan drug designations for any of our other product candidates, and we may be unable to take advantage of the benefits associated with orphan drug designation, including the potential for market exclusivity.
  • If we are unable to obtain marketing approval in international jurisdictions, we will not be able to market our product candidates abroad.
  • If we receive regulatory approval for any product candidate, we will be subject to ongoing obligations and continuing regulatory review, which may result in significant additional expense. Our product candidates, if approved, could be subject to restrictions or withdrawal from the market, and we may be subject to penalties if we fail to comply with regulatory requirements or if we experience unanticipated problems with our product candidates, when and if approved.
  • Our relationships with customers and third-party payors will be subject to applicable anti-kickback, fraud and abuse and other healthcare laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm and diminished profits and future earnings.
  • Recently enacted and future policies and legislation may increase the difficulty and cost for us to obtain marketing approval of and commercialize our product candidates and may affect the reimbursement made for any product candidate for which we receive marketing approval.
  • Our employees, independent contractors, principal investigators, contract research organizations, consultants or vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • Inadequate funding for the FDA, the SEC and other government agencies could hinder their ability to hire and retain key leadership and other personnel, prevent our product candidates from being developed or commercialized in a timely manner or otherwise prevent those agencies from performing normal business functions on which the operation of our business relies, which could negatively impact our business.
  • Our future success depends on our ability to retain our chief executive officer and other key executives and to attract, retain and motivate qualified personnel.
  • If foreign approvals are obtained, we will be subject to additional risks in conducting business in international markets.
  • We may engage in acquisitions that could disrupt our business, cause dilution to our stockholders or reduce our financial resources.
  • The price of our common stock may be volatile and fluctuate substantially, which could result in substantial losses for our stockholders.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.
  • We have broad discretion in the use of our cash reserves and may not use them effectively.
  • We are an “emerging growth company,” and the reduced disclosure requirements applicable to emerging growth companies may make our common stock less attractive to investors.
  • We have incurred and will continue to incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.
  • Failure to maintain effective internal controls in accordance with Section 404 of Sarbanes-Oxley in the future could have a material adverse effect on our ability to produce accurate financial statements and on our stock price.
  • A significant portion of our total outstanding shares may be sold into the market in the near future, which could cause the market price of our common stock to decline significantly, even if our business is doing well.
  • We do not anticipate paying any cash dividends on our capital stock in the foreseeable future. Accordingly, stockholders must rely on capital appreciation, if any, for any return on their investment.
  • Provisions in our corporate charter documents and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
Management Discussion
  • Our financial statements have been presented on the basis that we are a going concern, which contemplates the realization of revenues and the satisfaction of liabilities in the normal course of business. We have incurred losses from the inception of our operations. These factors raise substantial doubt about our ability to continue as a going concern.
  • Grant revenue recognized during 2020 and 2019 consisted of the reimbursement of qualifying expenses incurred in connection with our various government awards. The decrease in revenue during 2020 was primarily due to decreased funding received under our BARDA contract for tebipenem HBr.
  • During the years December 31, 2020 and 2019, we recognized $0.3 million and $4.7 million of revenue, respectively, related to our agreement with Everest, consisting of the performance of research and development services.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: absent, absorption, ADME, alveolar, cohort, constraint, cumulative, drafting, ELF, epithelial, ESRD, excretion, forty, fulfill, Hainan, herewith, hybrid, Indonesia, infused, infusion, input, instrument, intrapulmonary, Island, Kingdom, macrophage, Malaysian, marketplace, metabolism, nephrotoxicity, output, PK, point, predominant, proportion, Republic, resale, reversal, shareholder, Singapore, Socialist, stable, Taiwan, Thailand, therapeutic, thirty, unconstrained, upcoming, VAP, Vietnam, Yen
Removed: analogy, assume, chapter, check, classification, electronically, Employer, expressed, expressly, half, harbor, incidence, instance, Interactive, job, mark, par, preceding, prevalence, proper, Qualitative, rational, registrant, remote, shell, shorter, SPRO, terminology, Title, undue, Washington

Patents

APP
Utility
Compounds
12 Aug 21
Inventors: Pamela BROWN, Michael DAWSON, Mona SIMONOVIC, Steven BOAKES, Esther DUPERCHY, Dean RIVERS, Roy LESTER, Scott COLEMAN
APP
Utility
Polymyxin Derivatives and Their Use In Combination Therapy Together with Different Antibiotics
22 Jul 21
Inventors: Pamela BROWN, Michael DAWSON, Mona SIMONOVIC, Steven BOAKES, Esther DUPERCHY, Steven James STANWAY, Antoinette WILSON, Stephen Frederick MOSS
APP
Utility
Tebipenem Pivoxil Crystalline Forms, Compositions Including the Same, Methods of Manufacture, and Methods of Use
29 Apr 21
The disclosure is directed to new crystalline tebipenem pivoxil salt forms, including a crystalline tebipenem pivoxil ethane sulfonate salt form (Form A), a crystalline tebipenem pivoxil ketoglutarate salt form (Form A), tebipenem pivoxil maleate salt forms (Form A and Form B), a tebipenem pivoxil malate salt form (Form A), a tebipenem pivoxil methane sulfonate salt form (Form B), a tebipenem pivoxil hydrobromide salt form (Form B), and a tebipenem pivoxil edisylate salt form (Form A).
GRANT
Utility
Tebipenem pivoxil crystalline forms, compositions including the same, methods of manufacture, and methods of use
12 Jan 21
The disclosure is directed to new crystalline tebipenem pivoxil salt forms, including a crystalline tebipenem pivoxil ethane sulfonate salt form (Form A), a crystalline tebipenem pivoxil ketoglutarate salt form (Form A), tebipenem pivoxil maleate salt forms (Form A and Form B), a tebipenem pivoxil malate salt form (Form A), a tebipenem pivoxil methane sulfonate salt form (Form B), a tebipenem pivoxil hydrobromide salt form (Form B), and a tebipenem pivoxil edisylate salt form (Form A).
APP
Utility
Tebipenem Pivoxil Crystalline Forms, Compositions Including the Same, Methods of Manufacture, and Methods of Use
19 Feb 20
The disclosure is directed to new crystalline tebipenem pivoxil salt forms, including a crystalline tebipenem pivoxil ethane sulfonate salt form (Form A), a crystalline tebipenem pivoxil ketoglutarate salt form (Form A), tebipenem pivoxil maleate salt forms (Form A and Form B), a tebipenem pivoxil malate salt form (Form A), a tebipenem pivoxil methane sulfonate salt form (Form B), a tebipenem pivoxil hydrobromide salt form (Form B), and a tebipenem pivoxil edisylate salt form (Form A).