Spero Therapeutics falls as FDA declines to approve UTI drug

Spero Therapeutics

28/06/2022 11:18

** Shares of drug developer Spero Therapeutics Inc  SPRO.O 
fall 8.5% to 86 cents premarket
    ** U.S. FDA declines to approve co's oral antibiotic drug
for treatment of patients with complicated urinary tract
infections  urn:newsml:reuters.com:*:nL4N2YE2WD
    ** Agency says SPRO's late-stage study testing the drug,
tebipenem, was insufficient and an additional study will be
required
    ** Cowen says the decision was expected after prior negative
FDA meetings
    ** Brokerage still has confidence in the drug's "ultimate
approvability" but says SPRO cannot fund another late-stage
trial in the near term, and may seek a partnership deal for
tebipenem
    ** Up to last close, stock had lost more than 94% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))