On Monday, H.C. Wainwright reaffirmed its Buy rating and $5.00 price target for Spero Therapeutics (NASDAQ:SPRO), highlighting the company's progress in its Phase 3 trial for tebipenem HBr.
The trial, named PIVOT-PO, is evaluating the efficacy of tebipenem HBr in treating patients with complicated urinary tract infections (cUTI) or acute pyelonephritis (AP). This global study is a randomized, double-blinded comparison of the oral medication to the intravenously-administered imipenem cilastatin in hospitalized adult patients. With a market capitalization of $62 million and an "GOOD" overall Financial Health score from InvestingPro, the company maintains a strong balance sheet with more cash than debt.
The primary goal of the trial is to assess the overall response, which is a combination of clinical cure and favorable microbiological response at the Test-of-Cure (TOC) visit. Spero Therapeutics has reported that enrollment for the trial is proceeding as planned, with a total target enrollment of 2,648 patients. The completion of enrollment is expected in the second half of 2025.
"We believe that top-line results from the PIVOT-PO program could be released in early 2026, assuming timely enrollment completion," the analysts added.
In other recent news, TD Cowen downgraded Spero Therapeutics from Buy to Hold due to uncertainties in the timeline of upcoming catalysts, following the discontinuation of the company's Phase 2 program for a drug candidate.
The company reported Q2 2024 revenues of $10.2 million and a net loss of $17.9 million. In a restructuring move, Spero Therapeutics reduced its workforce by approximately 39%. Despite these changes, the company continues to advance its other programs, including a Phase 3 trial for tebipenem pivoxil hydrobromide in complicated urinary tract infections, in partnership with GlaxoSmithKline (NYSE:GSK).
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.