Spero’s stock jumps 188% after GSK licenses experimental antibiotic

Shares of Spero Therapeutics Inc.
soared 188.4% in trading on Thursday morning after the company signed an exclusive license agreement with GlaxoSmithKline
for its experimental antibiotic for complicated urinary tract infections. Spero’s therapy, tebipenem HBr, is expected to enter Phase 3 clinical trials next year. If approved, it would offer patients an oral medication option instead of in-hospital intravenous therapy, the companies said. Spero is receiving $66 million upfront, with at least $375 million in milestone payments. Spero’s stock is down 85.4% this year, while the S&P 500
has declined 20.5%.