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CAMBRIDGE, MA - Spero Therapeutics , Inc. (NASDAQ:SPRO), a pharmaceutical company, has been notified by the Nasdaq Stock Market that its stock price has failed to meet the minimum bid price requirement. Currently trading at $0.78, down significantly from its 52-week high of $1.89, the company received a deficiency letter on Monday, indicating that its common stock had closed below the $1.00 per share threshold for 30 consecutive trading days, violating Nasdaq’s continued listing standards. According to InvestingPro analysis, the company maintains a strong financial health score despite recent price challenges.
Despite the notice, Spero Therapeutics’ shares continue to trade on the Nasdaq Global Select Market under the ticker "SPRO". With a current market capitalization of $42.31 million and a healthy current ratio of 2.68, the company has been granted a period until August 25, 2025, to regain compliance with the minimum bid price rule. Compliance can be achieved if the stock’s closing bid price reaches at least $1.00 for a minimum of 10 consecutive business days before the deadline.
Should Spero Therapeutics fail to meet the requirement by August 25, it may be granted an additional 180 days to comply, provided it transfers its listing to the Nasdaq Capital Market and meets all other initial listing criteria except for the bid price. In such a scenario, the company would consider a reverse stock split among other options to address the deficiency.
The company has expressed its intention to closely monitor its stock price and explore all available avenues to regain compliance with Nasdaq’s requirements. However, if Spero Therapeutics ultimately cannot meet the standards, it faces the risk of delisting. The company would have the right to appeal such a decision to a Nasdaq Listing Qualifications Panel, but there is no guarantee of a successful outcome.
This report is based on a press release statement from Spero Therapeutics and reflects the company’s current status with respect to Nasdaq listing requirements.
In other recent news, Spero Therapeutics has announced interim leadership changes amid an SEC inquiry into public disclosures made between March 31, 2022, and May 3, 2022. Esther Rajavelu has been appointed as Interim President and CEO, while Frank Thomas takes on the role of Chairman of the Board. The company is cooperating with the SEC following a Wells Notice, which is a recommendation for enforcement action but not a formal charge. In parallel, Spero Therapeutics is making progress on its Phase 3 PIVOT-PO trial for Tebipenem HBr, an investigational oral antibiotic for complicated urinary tract infections, with enrollment surpassing 60% and expected to complete by the second half of 2025. H.C. Wainwright has reiterated a Buy rating for Spero Therapeutics, emphasizing the company’s progress in the PIVOT-PO trial and maintaining a 12-month price target of $5.00. The firm expressed confidence that top-line results could be available by early 2026, assuming the trial’s timeline remains on track. Additionally, Spero’s Phase 2a trial of SPR720 for Non-Tuberculous Mycobacterial-Pulmonary Disease did not meet its primary endpoint, while SPR206 is set for a Phase 2 trial pending funding. The company continues to focus on its clinical programs, including the development of Tebipenem HBr.
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