BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
Spero Therapeutics Inc. (NASDAQ:SPRO) stock has tumbled to a 52-week low, touching down at $0.51, representing a steep 20.7% decline in just the past week. According to InvestingPro data, the stock's RSI indicates oversold territory, while the company maintains a healthy balance sheet with more cash than debt. This latest price level reflects a significant downturn from the previous year, with the stock experiencing a precipitous decline of 66.9% over the past year and 54.8% in the last six months. The decline to this 52-week low underscores the hurdles Spero Therapeutics confronts as it navigates through a complex healthcare landscape, with investors closely monitoring the company's strategic moves to regain momentum and improve its market position. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional ProTips available to subscribers for deeper insight into SPRO's financial health and market position.
In other recent news, Spero Therapeutics reported its financial results for the fourth quarter of 2024, noting a diluted net loss per share of $0.38, slightly missing the forecast of $0.36. However, the company's revenue for the quarter was $15 million, significantly surpassing the expected $4.5 million. Despite the revenue beat, Spero experienced a challenging quarter with a net loss of $20.7 million and revenue down from $73.5 million in the same quarter the previous year. The company extended its cash runway to Q2 2026, thanks to a $47.5 million milestone payment from GSK.
Spero also announced the discontinuation of its SPR-720 program due to safety concerns, which may impact future revenue streams. The company is focusing on advancing its lead candidate, Tebipenem HBR, with an interim analysis of the Phase III PIVOT PO trial expected in Q2 2025. Analysts are keeping a close eye on the potential milestone payments from GSK, contingent on the successful submission of a new drug application for Tebipenem HBR. The firm's research and development expenses rose to $97 million, reflecting increased clinical trial activity. Meanwhile, general and administrative expenses increased slightly to $7.1 million for the fourth quarter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.