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SPRO

Spero Therapeutics, Inc.

SPRO

Spero Therapeutics, Inc. • NASDAQ
$2.40 ▲ 3.00% (+0.07)
Market Cap $135.20 M
52w High $3.22
52w Low $0.51
Dividend Yield 0%
P/E -3.04
Volume 136.58K
Outstanding Shares 56.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.048M ▼ $10.964M ▼ $-7.382M ▼ -242.192% ▼ $-0.13 ▼ $-7.382M ▼
Q2-2025 $11.802M ▲ $14.246M ▲ $-1.7M ▲ -14.404% ▲ $-0.03 ▲ $-2.361M ▲
Q1-2025 $5.874M ▼ $6.999M ▲ $-13.866M ▲ -236.057% ▼ $-0.25 ▲ $-14.556M ▲
Q4-2024 $15.044M ▲ $-57.865M ▼ $-20.888M ▼ -138.846% ▼ $-0.39 ▼ $-20.848M ▼
Q3-2024 $13.469M $32.062M $-17.147M -127.307% $-0.32 $-18.591M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $48.616M ▲ $54.17M ▼ $27.676M ▼ $26.494M ▼
Q2-2025 $31.194M ▼ $62.119M ▼ $29.291M ▼ $32.828M ▼
Q1-2025 $48.887M ▼ $77.709M ▼ $43.895M ▼ $33.814M ▼
Q4-2024 $52.889M ▼ $110.543M ▼ $64.42M ▼ $46.123M ▼
Q3-2024 $76.29M $135.161M $69.654M $65.507M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.382M ▼ $17.422M ▲ $0 $0 $17.422M ▲ $17.422M ▲
Q2-2025 $-1.7M ▲ $-17.693M ▼ $0 $0 $-17.693M ▼ $-17.693M ▼
Q1-2025 $-13.866M ▲ $-4.002M ▲ $0 $0 $-4.002M ▲ $-4.002M ▲
Q4-2024 $-20.888M ▼ $-23.401M ▼ $0 $0 $-23.401M ▼ $-23.401M ▼
Q3-2024 $-17.147M $12.763M $0 $0 $12.763M $12.763M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Collaboration Revenue Related Party
Collaboration Revenue Related Party
 $10.00M ▲$10.00M ▲$0 ▼
Grant Revenue
Grant Revenue
 $0 ▲$0 ▲$0 ▲
Collaboration Revenue
Collaboration Revenue
 $0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Spero still looks like an early-stage biotech from its income statement. Revenue is very small and irregular, likely tied to partnership and milestone payments rather than true product sales. Most years show meaningful losses as research and development and overhead costs outweigh income. There was a brief move into profitability recently, but that appears driven by one-time or partnership-related items rather than a steady, repeatable business. Overall, the company remains dependent on external funding and deal structures, not yet on a commercial product engine.

Balance Sheet

Balance Sheet The balance sheet is modest but relatively clean. Cash makes up a large share of total assets, which is typical for a clinical-stage biotech, but that cash balance has trended down recently as the company funds operations. Debt levels are low and have even declined, which reduces financial pressure from interest payments. Equity remains positive but has been eroded by ongoing losses, which limits cushion if development setbacks occur. In practical terms, Spero looks financially lean, with some runway but clear dependence on future funding, milestones, or new deals.

Cash Flow

Cash Flow Cash flow tells the classic story of a development-stage biotech: money consistently flows out to fund research and operations, with no strong operating cash inflow yet. The cash burn has improved compared with a few years ago, suggesting tighter cost control or support from partners, but it is still negative. There is almost no spending on physical assets, which means most cash goes straight into people, trials, and intellectual property. Unless partnership cash or new capital comes in, the company will continue drawing down its cash balance to fund the pipeline.

Competitive Edge

Competitive Edge Spero’s competitive position rests on a focused niche: serious, drug-resistant bacterial infections where treatment options are limited. The lead candidate, an oral carbapenem for complicated urinary tract infections, would be the first of its kind in the U.S. if approved, offering a clear differentiation versus existing hospital-based intravenous therapies. The partnership with GSK significantly strengthens Spero’s market position by adding global commercial reach and validation of the science. That said, antibiotics remain a tough commercial field, with pricing pressure, stewardship rules that limit usage, and competition from generics and large pharma infectious-disease players. Success will depend heavily on regulatory approval, clinical positioning, and payer acceptance.

Innovation and R&D

Innovation and R&D Innovation is the core of Spero’s story. The company is pushing the boundaries of oral therapy for infections that traditionally require hospital-based IV drugs, which could change how complicated urinary infections are managed. Beyond the lead oral candidate, Spero is advancing a next-generation intravenous polymyxin designed to be safer on the kidneys, plus a platform aimed at boosting the performance of existing antibiotics. The decision to halt the SPR720 program after weak results shows discipline in cutting less promising assets and focusing resources. However, the pipeline is still concentrated in a few key programs, and further progress depends on clinical success, regulatory green lights, and securing non-dilutive funding for later-stage trials.

Summary

Overall, Spero looks like a classic high-risk, high-uncertainty clinical-stage biotech with a clearly defined focus in drug-resistant infections. Financial statements show a company that is still pre-commercial, with small, lumpy revenues, ongoing losses, and steady cash burn, though with low debt and some remaining cash cushion. The real value driver is the lead oral antibiotic partnered with GSK, which, if approved, could open a differentiated market position in complicated urinary tract infections. At the same time, the business is exposed to the usual biotech risks: trial outcomes, regulatory decisions, dependence on partners, potential need to raise capital, and the challenging economics of new antibiotics. The story is less about current financial strength and more about whether the pipeline can translate into durable, commercially viable products over the next few years.

NEWS

November 28, 2025 · 8:00 AM UTC

Spero Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

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November 13, 2025 · 4:05 PM UTC

Spero Therapeutics Announces Third Quarter 2025 Operating Results and Provides a Business Update

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November 4, 2025 · 4:05 PM UTC

Spero Therapeutics to Report Third Quarter 2025 Financial Results and Provide Business Update on November 13, 2025

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October 21, 2025 · 2:00 AM UTC

PIVOT-PO Phase 3 Data Show Tebipenem HBr's Potential as the First Oral Carbapenem Antibiotic for Patients with Complicated Urinary Tract Infections (cUTIs)

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October 14, 2025 · 8:00 AM UTC

Spero Therapeutics Announces Presentations on Tebipenem Hbr at IDWeek

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