Spero Therapeutics Announces Phase 2a Proof-Of-Concept Study Of SPR720 For The Treatment Of Nontuberculous Mycobacterial Pulmonary Disease Did Not Meet Its Primary Endpoint, Based On Planned Interim Analysis Of 16 Patients; As A Result Of The Suspension Of The Current SPR720 Development Program, Spero Will Undergo A Restructuring And Reduction In Force Of ~39%, Which Will Extend Cash Runway And Support Operations Into Mid-2026
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Spero Therapeutics announced that its Phase 2a study of SPR720 did not meet its primary endpoint, leading to the suspension of the program and a 39% workforce reduction. This restructuring will extend the company's cash runway into mid-2026.
October 29, 2024 | 8:15 pm
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Spero Therapeutics' Phase 2a study of SPR720 failed to meet its primary endpoint, resulting in the suspension of the program and a 39% reduction in workforce. This move is aimed at extending the cash runway to mid-2026.
The failure of the SPR720 study to meet its primary endpoint is a significant setback for Spero Therapeutics, leading to the suspension of the program. The company's decision to reduce its workforce by 39% is a direct consequence, aimed at conserving cash and extending its operational runway. This news is likely to negatively impact SPRO's stock price in the short term due to the halted development and restructuring.
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