Spero Therapeutics, Inc.
SPRO evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for SPRO—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · SPRO
Spero Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing novel treatments for bacterial infections, with its lead product candidate tebipenem HBr targeting complicated urinary tract infections. As of June 30, 2026, the company reported cash and equivalents of $50.8 million and a net loss of $9.6 million for the quarter.
Key risk: Regulatory approval uncertainty
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 3 clinical trials for Spero Therapeutics, Inc..
Spero Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing novel treatments for bacterial infections, with its lead product candidate tebipenem HBr targeting complicated urinary tract infections. As of June 30, 2026, the company reported cash and equivalents of $50.8 million and a net loss of $9.6 million for the quarter.
- Spero Therapeutics is developing tebipenem HBr, an oral carbapenem antibiotic for complicated urinary tract infections (cUTI) [sec_mda · as of 2026-08-12].
- As of June 30, 2026, the company had cash and cash equivalents of $50.8 million [sec_mda · as of 2026-08-12].
- The company reported a net loss of $9.6 million for the quarter ended June 30, 2026 [sec].
- Spero has completed the PIVOT-PO Phase 3 trial for tebipenem HBr and ceased related clinical expenses [sec_mda · as of 2025-11-13].
- The company has a royalty financing transaction that closed in 2026, providing additional funding [sec_mda · as of 2026-08-12].
What works
- Spero has a late-stage asset, tebipenem HBr, which completed a Phase 3 trial (PIVOT-PO) for cUTI, reducing clinical development risk [sec_mda · as of 2025-11-13].
- The company secured a royalty financing transaction in 2026, providing non-dilutive capital to extend its cash runway [sec_mda · as of 2026-08-12].
- Spero has a partnership with GSK, including earned and non-contingent development milestone payments, which provided $23.8 million in funding [sec_mda · as of 2025-08-12].
What to weigh
- Spero has no approved products and has not generated any revenue from product sales, as reflected in total revenue of $0.0 million for the quarter ended June 30, 2026 [sec].
- The company has a history of operating losses, with a net loss of $9.6 million for the quarter ended June 30, 2026 [sec].
- Spero's ability to continue as a going concern is dependent on its cash position and future financing, as the company evaluates conditions that raise substantial doubt about its viability [sec_mda · as of 2026-08-12].
- The company faces regulatory uncertainty regarding FDA approval of tebipenem HBr, including potential requirements for additional clinical data [sec · filed 2024-10-29].
From the filings
Quoted directly from source documents.
Cash position as of June 30, 2026
“As of June 30, 2026, we had cash and cash equivalents of $50.8 million.”
SEC MD&A · August 12, 2026
Completion of PIVOT-PO Phase 3 trial
“the decrease in clinical expense as a result of the completion of the PIVOT-PO Phase 3 trial for tebipenem HBr and the decision to cease”
SEC MD&A · November 13, 2025
Royalty financing transaction closed in 2026
“together with proceeds from the royalty financing transaction that closed in J”
SEC MD&A · August 12, 2026
Risks & what to watch (4)›
Key risks
- Regulatory approval uncertainty — FDA may require additional clinical data or delay approval of tebipenem HBr [sec · filed 2024-10-29].
- Going concern risk — Company must evaluate conditions that raise substantial doubt about its ability to continue as a going concern [sec_mda · as of 2026-08-12].
- No product revenue — Spero has no approved products and reported $0.0 million in total revenue for Q2 2026 [sec].
- Dependence on single asset — Company's pipeline is heavily reliant on tebipenem HBr for cUTI [sec_mda · as of 2026-08-12].
What to watch
- FDA decision on tebipenem HBr for complicated urinary tract infections [sec · filed 2024-10-29].
- Cash runway and potential need for additional financing given net losses [sec_mda · as of 2026-08-12].
- Progress of any partnership or licensing deals to expand pipeline [sec_mda · as of 2026-08-12].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
28.6 months
D/E 0.19 · 0% dilution
Lead: Phase 3
3 candidates
No upcoming catalysts tracked
0 buys · 1 sell (180d)
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
46
Total value held
$22.2M
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 3,599,760 | $8.4M |
| renaissance technologies llc | 1,189,235 | $2.8M |
| two sigma investments, lp | 885,631 | $2.1M |
| geode capital management, llc | 519,922 | $1.2M |
| blackrock, inc. | 433,202 | $1.0M |
| citadel advisors llc | 425,658 | $996K |
| susquehanna international group, llp | 381,615 | $893K |
| vanguard fiduciary trust co | 264,115 | $618K |
| state street corp | 214,751 | $503K |
| ionic capital management llc | 195,939 | $458K |
Showing top 10 of 46 institutional holders of Spero Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 1.3%
- Days to cover
- 1.9
- Shares short
- 605,311
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
SPRO short interestGovernance
Frequently asked questions
What is the AI investment thesis for Spero Therapeutics, Inc.?
Spero Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing novel treatments for bacterial infections, with its lead product candidate tebipenem HBr targeting complicated urinary tract infections. As of June 30, 2026, the company reported cash and equivalents of $50.8 million and a net loss of $9.6 million for the quarter.
What is Spero Therapeutics, Inc.'s lead drug candidate?
Spero Therapeutics, Inc.'s most advanced tracked candidate is spr206 (Phase 2) for MDR Gram-negative bacterial infections.
Who is the CEO of Spero Therapeutics, Inc.?
Ms. Esther P. Rajavelu is the chief executive officer of Spero Therapeutics, Inc. (SPRO).
Where is Spero Therapeutics, Inc. headquartered?
Spero Therapeutics, Inc. (SPRO) is headquartered in Cambridge, MA, United States.
What therapeutic areas does Spero Therapeutics, Inc. focus on?
Spero Therapeutics, Inc. develops therapies across Oncology, Infectious Disease, Metabolic, Respiratory.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.