Spero Therapeutics reports Q3 EPS (6c), consensus (3c)

Reports Q3 revenue $25.47M, consensus $14.97M. Revenues were approximately $23.5M higher year over year primarily due to $23.2M in collaboration revenue related to the license agreement with GSK in the third quarter of 2023. “Having made substantial progress across our late-stage programs throughout 2023, we look forward to important milestones before year-end,” said Sath Shukla, President, and Chief Executive Officer of Spero. “In our SPR720 program, enrollment for our Phase 2 clinical proof-of-concept trial, evaluating the product in non-tuberculous mycobacterial pulmonary disease, continues to advance. Enrollment of our first patients in the Phase 3 PIVOT-PO clinical trial of tebipenem HBr is expected to begin in the fourth quarter. Further, we expect to file an IND for SPR206, in the fourth quarter of this year, as well, with the goal of conducting a Phase 2 clinical trial in patients with hospital-acquired or ventilator-associated bacterial pneumonia.”