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Spero Therapeutics (SPRO) investor relations material
Spero Therapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Phase 3 PIVOT-PO trial for tebipenem HBr in cUTI met its primary endpoint and was stopped early for efficacy, positioning it as a potential first-in-class oral carbapenem; GSK will handle regulatory filings, aiming for FDA submission in 2H 2025.
Spero is eligible for up to $351M in milestones and tiered royalties from GSK, with $25M upon U.S. regulatory filing; final $23.8M milestone payment received in Q3 2025.
SPR720 program suspended after Phase 2a trial failed to meet its primary endpoint; SPR206 discontinued after strategic reprioritization.
Esther Rajavelu appointed President, CEO, CFO, and Treasurer in May 2025 following leadership transition.
Cost savings from early trial completion are expected to extend the cash runway into 2028.
Financial highlights
Cash and cash equivalents as of June 30, 2025, were $31.2M, with an additional $23.8M milestone payment from GSK received in Q3 2025.
Total revenue for Q2 2025 was $14.2M, up from $10.2M in Q2 2024, mainly due to GSK collaboration revenue.
R&D expenses decreased to $10.7M in Q2 2025 from $23.7M in Q2 2024, reflecting lower clinical trial costs.
G&A expenses rose to $5.9M in Q2 2025 from $5.5M in Q2 2024, attributed to increased personnel, professional services, and retention/severance costs.
Net loss for Q2 2025 was $1.7M, a significant improvement from $17.9M in Q2 2024; diluted net loss per share was $0.03 versus $0.33.
Outlook and guidance
Existing cash and milestone payments from GSK are expected to fund operations and capital expenditures into 2028.
Focus remains on advancing tebipenem HBr through regulatory approval as the primary value driver.
Additional funding may be required beyond 2028 or if operating plans change; options include equity, debt, collaborations, or further cost reductions.
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