Spero Therapeutics Q3 net loss widens on SP001 licensing payment

Overview

• US biopharma firm's Q3 revenue fell to zero from $5.4 mln a year earlier

• Net loss for Q3 widened to $44.3 mln, mainly due to $35 mln SP001 licensing payment

• Company ended Q3 with $107.9 mln cash, expects runway into H2 2029

Outlook

• Spero expects to initiate Phase 2 study for SP001 in IgG4-RD in Q2 2027

• Company says cash and equivalents expected to fund operations into second half of 2029

• Company continues to evaluate additional indications for SP001 beyond IgG4-RD

Result Drivers

• SP001 LICENSING PAYMENT - Q3 R&D expenses rose mainly due to $35 mln upfront payment for SP001 licensing

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Spero Therapeutics, Inc. is $6.00, about 488.2% above its November 11 closing price of $1.02

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)