Spero Q2 Loss Widens to $9.6M as Revenue Drops to Zero
SPRO is trading near its 52-week low of $1.08 (14% above the low).
Summary
Spero reported a Q2 net loss of $9.6 million, up from $1.7 million a year ago, with revenue falling to zero from $14.2 million. The revenue decline reflects the completion of prior collaboration and grant revenue recognition. R&D spending dropped to $3.4 million from $10.7 million, reflecting a shift in pipeline focus. The company also named Debra Jeske Zack as Chief Medical Officer. This follows the June FDA approval of Utebzi and the July SP001 license and $105 million royalty financing, which extended cash runway. The widening loss and revenue gap are the key new data points for traders.
At the time of this announcement, SPRO was trading at $1.23 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $68.9M. The 52-week trading range was $1.08 to $3.08. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.