BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
Spero Therapeutics Inc. (NASDAQ:SPRO) stock has reached a notable milestone, hitting a 52-week high of $2.53 USD. This peak reflects a significant turnaround for the biopharmaceutical company, which has seen its stock value climb by an impressive 50% over the past year. Investors have shown increased confidence in Spero’s pipeline and strategic initiatives, propelling the stock to this new high. The company’s focus on developing treatments for multi-drug resistant bacterial infections appears to be resonating with the market, as evidenced by the stock’s strong performance and the positive 1-year change data.
In other recent news, Spero Therapeutics reported its financial results for the fourth quarter of 2024, revealing a diluted net loss per share of $0.38, slightly missing the forecast of $0.36. However, the company achieved a revenue of $15 million, significantly surpassing the expected $4.5 million. Spero’s financial stability was further bolstered by a $47.5 million milestone payment from its collaboration with GSK, extending its cash runway to the second quarter of 2026. The company also announced positive outcomes from its Phase 3 PIVOT-PO trial for tebipenem HBr, a development in partnership with GSK. This trial achieved its primary endpoint, demonstrating the non-inferiority of tebipenem HBr compared to an intravenous antibiotic in treating complicated urinary tract infections. Additionally, Spero Therapeutics appointed Esther Rajavelu as its new President and Chief Executive Officer, a role she has held on an interim basis since January 2025. Meanwhile, the company’s development of SPR-720 was discontinued due to safety concerns. These recent developments highlight Spero’s ongoing efforts in advancing its clinical programs and strategic partnerships.
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