Spero Therapeutics rises after upbeat results

Spero Therapeutics

31/03/2023 10:50

** Shares of drug developer Spero Therapeutics Inc  SPRO.O 
rise 13.2% to $1.63 premarket
    ** Posts higher total revenue of 47.4 mln vs revenue of $2.7
mln last year, primarily due to $46.1 mln in collaboration
revenue related to agreements with GSK and Pfizer
    ** Q4 net income was $26.8 million vs net loss of $29.2
million last year
    ** Says it has cash and cash-equivalents of $109.1 million,
sufficient to fund operating expenses and capex requirements
beyond 2024
    ** Up to last close, stock had fallen 16.8% this year

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))