Biotech Finds Mid-Week Success After Meeting Primary Endpoint
Traders wasted no time snatching up shares of Spero Therapeutics Inc. (Nasdaq:SPRO), pushing the small cap to close the session up at $2.35/share (+244.57%). This move was a massive breakout from the multi-month downtrend this stock was stuck in since last year.
Spero Therapeutics Inc is a clinical-stage biopharmaceutical firm. It focuses on identifying, developing and commercializing novel treatments for MDR (Multi-drug-resistant) bacterial infections and rare diseases. The company's product candidate, tebipenem pivoxil hydrobromide or tebipenem HBr, is designed to be an oral carbapenem-class antibiotic for use in adults to treat MDR Gram-negative infections. It is also developing SPR720, a novel oral antibiotic designed for the treatment of a rare, orphan disease caused by pulmonary non-tuberculous mycobacterial infections, or NTM disease. Besides, it is also focused on SPR206, a next-generation polymyxin investigational product candidate, being developed as an IV-administered medicine to treat MDR Gram-negative infections in the hospital.
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