Spero Therapeutics Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
SPRO$1.03+1.0%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $76,290 | $76,333 |
| Collaboration receivable, current - related party | 50,586 | 49,152 |
| Other receivables | 2,696 | 1,545 |
| Prepaid expenses and other current assets | 2,055 | 4,178 |
| Total current assets | 131,627 | 131,208 |
| Property and equipment, net | — | 2 |
| Operating lease right of use assets | 3,381 | 4,155 |
| Collaboration receivable, non-current - related party | — | 46,590 |
| Other assets | 153 | 435 |
| Total assets | $135,161 | $182,390 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | 6,090 | 1,378 |
| Accrued expenses and other current liabilities | 15,328 | 6,557 |
| Operating lease liabilities | 1,739 | 1,718 |
| Income taxes payable | 97 | 387 |
| Deferred revenue, current | 788 | 2,132 |
| Deferred revenue, current - related party | 25,054 | 24,981 |
| Total current liabilities | 49,096 | 37,153 |
| Non-current operating lease liabilities | 2,883 | 3,825 |
| Deferred revenue, non-current | 11,850 | 10,825 |
| Deferred revenue, non-current - related party | 5,812 | 23,606 |
| Other long-term liabilities | 13 | 87 |
| Total liabilities | 69,654 | 75,496 |
| Commitments and contingencies (Note 7) | ||
| Stockholders' equity: | ||
| Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2024 and December 31, 2023 | — | — |
| Common stock, $0.001 par value; 120,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 54,314,415 shares issued and outstanding as of September 30, 2024 and 52,999,680 shares issued and outstanding as of December 31, 2023 | 54 | 53 |
| Additional paid-in capital | 504,203 | 497,913 |
| Accumulated deficit | (438,750) | (391,072) |
| Total stockholders' equity | 65,507 | 106,894 |
| Total liabilities and stockholders' equity | $135,161 | $182,390 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(In thousands, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Grant revenue | $5,650 | $2,091 | $14,893 | $5,349 |
| Collaboration revenue - related party | 7,754 | 23,164 | 17,721 | 24,200 |
| Collaboration revenue | 65 | 218 | 319 | 710 |
| Total revenues | 13,469 | 25,473 | 32,933 | 30,259 |
| Operating expenses: | ||||
| Research and development | 26,864 | 16,393 | 67,921 | 34,883 |
| General and administrative | 5,198 | 5,708 | 16,648 | 19,121 |
| Impairment of long-term asset | — | 5,306 | — | 5,306 |
| Total operating expenses | 32,062 | 27,407 | 84,569 | 59,310 |
| Loss from operations | (18,593) | (1,934) | (51,636) | (29,051) |
| Other income (expense): | ||||
| Interest income | 1,182 | 950 | 3,707 | 2,894 |
| Other income (expense), net | (26) | (10) | (39) | (17) |
| Total other income (expense), net | 1,156 | 940 | 3,668 | 2,877 |
| Net loss before income taxes | (17,437) | (994) | (47,968) | (26,174) |
| Income tax benefit (expense) | 290 | (2,211) | 290 | (2,211) |
| Net loss and comprehensive loss | $(17,147) | $(3,205) | $(47,678) | $(28,385) |
| Net loss per share attributable to common stockholders, basic and diluted | $(0.32) | $(0.06) | $(0.89) | $(0.54) |
| Weighted average common shares outstanding, basic and diluted: | 54,124,862 | 52,710,280 | 53,869,824 | 52,603,709 |
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