Wed, May 15, 8:08 PM (304 days ago)
Spero Therapeutics, Inc. reported a net loss of $12.7 million for Q1 2024, a slight improvement from a $13.3 million loss in Q1 2023. Total revenues increased significantly to $9.3 million from $2.1 million, driven by higher grant and collaboration revenues. Research and development expenses rose to $17.3 million from $9.0 million, primarily due to increased spending on tebipenem HBr and SPR720 clinical activities. General and administrative expenses decreased to $5.9 million from $7.3 million, reflecting lower personnel-related costs. Cash and cash equivalents were $82.3 million as of March 31, 2024, with a projected cash runway into late 2025. The company anticipates needing additional funding to continue its operations and advance its clinical programs. Key risks include regulatory challenges, competition, and potential delays in clinical trials.