Spero Therapeutics reports Q3 EPS (95c), consensus (85c)
Reports Q3 revenue $4.64M, consensus $2.45M. "In the third quarter, we were pleased to announce a positive outcome from the SPR994 Phase 3 interim pharmacokinetic analysis where an independent data review committee determined that SPR994 plasma PK levels in patients were comparable to levels seen in the Phase 1 trial of healthy volunteers. As plasma exposure is a strong determinant of clinical efficacy, these data support the dose selected for the Phase 3 trial and give us additional confidence in SPR994's activity in complicated urinary tract infections, a therapeutic area where a significant unmet need exists for effective oral agents that have the potency to fight resistant pathogens," said Ankit Mahadevia, CEO of Spero Therapeutics. "We are in a strong financial position with approximately $94 million in cash as of the end of the third quarter of 2019 and we have upcoming clinical data for all of our clinical-stage pipeline programs scheduled to read out within the next 12 months, including top-line SPR994 Phase 3 data in the third quarter of 2020."