The Q1 results are backward-looking and secondary to the June 18 FDA decision on tebipenem HBr. Monitor for any pre-PDUFA documents or commentary. Approval could trigger milestone payments and a re-rating; denial would likely require strategic alternatives given minimal revenue.
Price Chart
Executive Summary
Spero Therapeutics reported Q1 2026 results with revenue plunging 95% to $0.3M as the Phase 3 trial ended, but net loss narrowed to $7.2M from $13.9M due to lower R&D expenses. Cash position grew to $56.1M, and guidance for runway into 2028 was reaffirmed. The market remains focused on the June 18 PDUFA decision for tebipenem HBr, which will determine the company's near-term trajectory.
Key Financial Metrics
Key Facts
- Q1 2026 net loss of $7.2M vs $13.9M in Q1 2025 (narrowed 48%)
- Diluted EPS: -$0.13 vs -$0.25 year over year
- Total revenue fell to $0.3M from $5.9M, a 95% decline
- R&D expenses dropped to $2.9M from $13.6M as PIVOT-PO trial completed
- Cash and cash equivalents: $56.1M at March 31, 2026, up from $40.3M at year-end
- Cash runway guidance maintained into 2028
- PDUFA date for tebipenem HBr NDA remains June 18, 2026
- GSK is the licensing partner for tebipenem HBr commercialization
Financial Impact
Revenue collapsed to near zero as collaboration milestones concluded; operating loss improved by ~$7M as clinical trial costs fell. No change to cash runway guidance.
Risk Factors
- FDA denial or complete response letter for tebipenem HBr
- Revenue dependence on GSK milestones; no approved products
- Dilution risk if additional financing needed post-PDUFA decision
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-221567 |
| Document: d147628d8k.htm | 0001193125-26-221567 |
| Document: 0001193125-26-221567-index-headers.html | 0001193125-26-221567 |
| Document: 0001193125-26-221567-index.html | 0001193125-26-221567 |
| Document: 0001193125-26-221567.txt | 0001193125-26-221567 |
| 8-K Data (Synthetic) | 0001193125-26-221567 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 21d ago | EFFECT | $1.13 $1.13 | · 0.00% | ▼ −0.34% | $1.19 (−5.31%) |
Aug 28, 2026 4w ago | 8-K | $1.22 $1.19 | ▲ +2.46% | ▲ +2.32% | $1.19 (+2.46%) |
Aug 28, 2026 5w ago | S-3 | $1.22 $1.19 | ▲ +2.46% | ▲ +2.32% | $1.19 (+2.46%) |
Aug 12, 2026 7w ago | Press Release | $1.24 $1.22 | ▼ −1.61% | ▲ +0.35% | $1.19 (−4.03%) |
Jul 14, 2026 11w ago | 8-K | $1.70 $1.44 | ▼ −15.29% | ▼ −14.00% | $1.19 (−30.00%) |
Jul 14, 2026 11w ago | Press Release | $1.70 $1.44 | ▼ −15.29% | ▼ −14.00% | $1.19 (−30.00%) |
Jun 25, 2026 14w ago | 8-K | $2.26 $2.20 | ▼ −2.65% | ▼ −4.82% | $1.19 (−47.35%) |
Jun 22, 2026 14w ago | 8-K | $2.15 $2.26 | ▲ +5.12% | ▲ +4.10% | $1.19 (−44.65%) |
Jun 17, 2026 15w ago | Press Release | $2.11 $2.10 | ▼ −0.47% | ▲ +0.57% | $1.19 (−43.60%) |
May 13, 2026 20w ago | 8-K | $2.76 $2.69 | ▼ −2.54% | ▼ −1.82% | $1.19 (−56.88%) |
US Market Status
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