BioXcel Therapeutics to announce phase 3 trial results for agitation treatment
In a challenging year for Spero Therapeutics (NASDAQ:SPRO), the biopharmaceutical company’s stock has tumbled to a 52-week low, touching down at $0.72. With a market capitalization of just $39.5 million, InvestingPro analysis suggests the stock is slightly undervalued at current levels, while maintaining a healthy balance sheet with more cash than debt. This latest price level reflects a significant downturn for the company, which has seen its stock value decrease by 60.5% over the past year. Investors have been closely monitoring Spero’s performance, as the company navigates through a competitive market while striving to advance its pipeline of novel treatments. Despite the challenges, InvestingPro data shows two analysts have revised their earnings upwards for the upcoming period, though revenue declined by 53.8% in the last twelve months. The 52-week low serves as a critical marker for the company, indicating a period of heightened scrutiny and potential reassessment of strategies moving forward. Get deeper insights with InvestingPro’s comprehensive research report, available along with 8 additional ProTips for SPRO.
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. The company’s revenue for the quarter was $15 million, significantly surpassing the forecast of $4.5 million. Despite the revenue beat, the company experienced a net loss of $20.7 million, and its full-year 2024 revenue decreased to $48 million from $103.8 million in 2023. Spero’s cash runway has been extended to Q2 2026, aided by a $47.5 million milestone payment from its partnership with GSK. However, the development of SPR-720 was discontinued due to safety concerns, which could 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. Analyst feedback from firms such as Evercore ISI and TD Cowen highlighted the importance of the upcoming trial results for Tebipenem HBR. Additionally, Spero is exploring potential milestone payments from GSK, contingent on the successful submission of a new drug application for Tebipenem HBR.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.