The following is a summary of the Spero Therapeutics, Inc. (SPRO) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Spero Therapeutics reported having cash and cash equivalents worth $76.3 million as of December 31, 2023.

• Spero received a total of $95 million in milestones from GSK, to be paid in installments during 2024 and 2025.

• Total revenue for Q4 2023 was $73.5 million, up from $47.4 million in Q4 2022. Total revenue for 2023 was $103.8 million, nearly double the $53.5 million revenue in 2022, mostly due to collaborations with GSK and Pfizer.

• R&D expenses for 2023 totaled $51.4 million, slightly up from $47.6 million in 2022. G&A expenses were reduced to $25.6 million from $36.5 million in the previous year.

• The net income reported for Q4 2023 was $51.2 million, with a full-year net income of $22.8 million; this was reflected in diluted earnings per share of $0.96 and $0.43 respectively.

Business Progress:

• SPR720 designed for NTMPD progressed to a Phase 2a proof-of-concept clinical trial, with data due by the second half of the year. Two Phase 1 studies involving the intrapulmonary pharmacokinetics of SPR719 are also underway.

• Phase 3 trials of tebipenem HBr for treating urinary tract infections have started in January, with a target enrollment of 2,648 patients, to be completed by 2025.

• FDA clearance received for SPR206, an antibiotic for multi-drug resistant gram-negative infections.

• SPR720 has also received several recognitions including orphan drug, QIDP, and Fast Track designations.

• Partnerships with GSK, Pfizer, and Everest, and associations with government agencies, have secured funding for business operations.

• A strong balance sheet and financial flexibility position Spero to execute its plans effectively.

More details: Spero Therapeutics IR

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