Spero Therapeutics Reports 38.9% Revenue Growth and Improved Net Loss in Q2 2025

Spero Therapeutics, Inc. reported its financial results for the second quarter of 2025, revealing total revenues of $14.2 million, a 38.9% increase from $10.2 million in the same period last year. The revenue growth was primarily driven by a significant rise in collaboration revenue from related parties, which surged to $11.8 million from $5.9 million in the prior year. However, grant revenue decreased to $2.4 million from $4.2 million, reflecting a decline in funding under government contracts, particularly from the Biomedical Advanced Research and Development Authority (BARDA).

The company’s operating expenses for the second quarter decreased to $16.6 million, down from $29.3 million in the previous year, marking a reduction of 43.2%. This decline was largely attributed to a significant decrease in research and development expenses, which fell to $10.7 million from $23.7 million, as clinical activities related to the tebipenem HBr program were reduced following the early termination of the Phase 3 PIVOT-PO trial due to positive interim results. General and administrative expenses saw a slight increase, rising to $5.9 million from $5.5 million, reflecting ongoing operational costs.

Spero's net loss for the second quarter was $1.7 million, a substantial improvement compared to a net loss of $17.9 million in the same quarter of 2024. The loss per share attributable to common stockholders was $0.03, compared to $0.33 in the prior year. The company reported an accumulated deficit of $475.2 million as of June 30, 2025, and cash and cash equivalents stood at $31.2 million, down from $52.9 million at the end of 2024.

Strategically, Spero has made significant adjustments to its pipeline, including the suspension of the SPR720 program and the discontinuation of the Phase 2 clinical trial for SPR206. The company is now focusing on the tebipenem HBr program, which has shown promising results in its Phase 3 trial. In May 2025, Spero announced that the PIVOT-PO trial met its primary endpoint and was stopped early for efficacy, which is expected to facilitate regulatory submissions in the near future.

Looking ahead, Spero anticipates continued operating losses as it invests in the development of its product candidates. The company expects its current cash position, along with anticipated milestone payments from GSK, to fund operations into 2028. However, Spero acknowledges the need for additional funding to support ongoing development and operational activities, which may involve equity offerings, debt financing, or collaborations. The company remains committed to advancing its clinical programs while managing its financial resources prudently.