GSK and Spero Therapeutics Announce Exclusive License Agreement for Late-Stage Antibiotic Asset, Tebipenem HBr – Latest $SPRO Stock Update – #ShortSqueeze Potential
The exclusive license allows GSK to commercialize tebipenem HBr in all territories, except Japan and certain other Asian countries
Spero Therapeutics receives $66 million upfront, with potential for future milestone payments, and tiered royalties.
SPRO STOCK UPDATE:
LONDON and CAMBRIDGE, Mass., Sept. 22, 2022 (GLOBE NEWSWIRE) — GSK (LSE/NYSE: GSK) and Spero
Therapeutics, Inc. (Nasdaq: SPRO) today announced they have entered into an exclusive license agreement for Spero’s late-stage antibiotic asset, tebipenem HBr. Tebipenem HBr is being developed as the first oral carbapenem antibiotic for the treatment of complicated urinary tract infections (cUTI), including pyelonephritis, caused by certain bacteria. Luke Miels, Chief Commercial Officer, GSK said, “There is a high unmet medical need for a novel oral antibiotic as an alternative to intravenous hospital therapy for drug-resistant complicated urinary tract infections. Tebipenem HBr complements GSK’s infectious disease strategy and is consistent with our commitment to find value-enhancing opportunities to build a strong late-stage portfolio. Tebipenem HBr has a clear US FDA regulatory path to potential
approval, which could significantly benefit patients with complicated urinary tract infections.”
“Spero’s agreement with GSK provides a critical step towards fully realizing the value tebipenem HBr can potentially provide to physicians, payors, and patients,” said Ankit Mahadevia, M.D., Chief Executive Officer of Spero. “We are thrilled to collaborate with GSK on developing tebipenem HBr for patients suffering from cUTI. With their antibiotic expertise and global commercial reach, GSK is ideally positioned to launch tebipenem HBr following regulatory approval as the first oral treatment for cUTI, providing patients with an alternative to in-hospital intravenous (IV) therapy.
Tebipenem HBr’s potential as an at-home, oral option can potentially be of significant benefit by reducing hospital resource utilization. In addition, our partnership with GSK strengthens our balance sheet and shareholder base.” Spero expects to start a new phase 3 clinical trial in 2023, following encouraging US FDA regulatory feedback on the proposed clinical trial design.
|Short Interest||275,546 shares – source: NASDAQ|
|Short Interest Ratio||0.51 Days to Cover|
|Short Interest % Float||1.14% – source: NASDAQ (short interest), Capital IQ (float)|
|Off-Exchange Short Volume||204,164 shares – source: FINRA (inc. Dark Pool volume)|
|Off-Exchange Short Volume Ratio||66.32% – source: FINRA (inc. Dark Pool volume)|
Last update: 18 minutes ago
|Timestamp (UTC)||SPRO Short Shares Availability|
|4 hours ago||2022-09-22 08:56:51.458||0|
|5 hours ago||2022-09-22 08:26:51.458||300,000|
|1 day ago||2022-09-21 12:10:11.007||450,000|