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SPRO · Spero Therapeutics, Inc.

Company guidance, FDA catalysts, dilution risk and cash runway, built from SEC, FDA and ClinicalTrials.gov filings and updated every day.

$50.8M Cash on Hand

CF+ Cash Runway

2% Short Interest

$5 Analyst Target (2)

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📣 What SPRO Says Is Next

Q2 2027 · “Spero currently expects to advance SP001 into a Phase 2 study in IgG4-RD patients in Q2 2027; Innovent expects to initiate a Phase 2 trial in China for SjD by early 2027.”
Company press release, Jul 14, 2026 · SEC filing
early 2027 · “Innovent plans to initiate a Phase 2 trial in China by early 2027 for Sjögren’s disease (SjD), a chronic autoimmune disorder with limited therapeutic options CAMBRIDGE, Mass., SAN FRANCISCO and SUZHOU, China, July 14, 2026 – Spero Therapeutics, Inc. (Nasdaq: SPRO) and Innovent Biologics, Inc. (01801.HK) today announced an exclusive license agreement for SP001 (Innovent R&D code: IBI355), a third-generation Fc-silent anti-CD40L antibody.”
Company press release, Jul 14, 2026 · SEC filing
Q2 2027 · “Spero plans to initiate a Phase 2 trial for SP001 in Q2 2027 in IgG4-related disease (IgG4-RD), a serious, chronic fibroinflammatory condition with significant treatment burden and limited therapeutic options”
Company press release, Jul 14, 2026 · SEC filing

Quoted word for word from the company's press releases filed with the SEC. Timing is the company's own guidance, not a BioRadar estimate.

🧪 Trial & FDA Catalysts

2026-06-22 · PDUFA date · PDUFA Date Mentioned in 8-K Filing
Disclosed by the company in an SEC filing
2026-05-13 · PDUFA date · PDUFA Date Mentioned in 8-K Filing
Disclosed by the company in an SEC filing
2026-03-26 · PDUFA date · PDUFA Date Mentioned in 8-K Filing
Disclosed by the company in an SEC filing
Apr 2025 · Phase 1 · Results Expected · A Study to Characterize Single and Repeat Dose Pharmacokinetics of Tebipenem-Pivoxil-Hydro
Registry primary completion date, not a results date
Jan 2025 · Phase 3 · Results Expected · A Study of Oral Tebipenem Pivoxil Hydrobromide (TBP-PI-HBr) Compared to Intravenous Imipen
Registry primary completion date, not a results date
Oct 2024 · Phase 2 · Results Expected · A Study to Evaluate the Efficacy, Safety, Tolerability, and Pharmacokinetics of SPR720 as
Registry primary completion date, not a results date

📊 Drug Pipeline

Drug	Indication	Most advanced trial	Status
TBP-PI-HBr	Urinary Tract Infection	Phase 3 · NCT06059846	Completed
Dummy Infusion	Urinary Tract Infection	Phase 3 · NCT06059846	Completed
TBPM-PI-HBr	Complicated Urinary Tract Infection	Phase 3 · NCT03788967	Completed
Imipenem-cilastatin	Urinary Tract Infection	Phase 3 · NCT06059846	Completed
SPR720	Nontuberculous Mycobacterial Pulmonary Disease (NT	Phase 2 · NCT05496374	Completed
Tebipenem Pivoxil Hydrobromide	Diabetes	Phase 1 · NCT04919954	Completed
Tebipenem pivoxil hydrobromide (TBPM-PI-	Healthy Volunteers	Phase 1 · NCT04421885	Completed
SPR994	Healthy Volunteers	Phase 1 · NCT03395249	Completed
SPR741	Healthy Volunteers	Phase 1 · NCT03376529	Completed
SPR720 for SAD	Healthy Volunteers	Phase 1 · NCT03796910	Completed
Tebipenem pivoxil hydrobromide (TBPM-PI-	Healthy Volunteers	Phase 1 · NCT04421885	Completed
Tebipenem tablet form	Relative Bioavailability	Phase 1 · NCT05296382	Completed
SPR206	Renal Impairment	Phase 1 · NCT04865393	Completed
SPR720 for MAD	Healthy Volunteers	Phase 1 · NCT03796910	Completed
Orapenem®	Healthy Volunteers	Phase 1 · NCT03395249	Completed
Moxifloxacin	TQT Study	Phase 1 · NCT04238195	Completed

Also used in these trials (approved or third-party drugs, not SPRO's own candidates): Ertapenem Sodium, Piperacillin Sodium, Tazobactam Sodium, Omeprazole, Ceftazidime, Aztreonam, Azithromycin.

Source: ClinicalTrials.gov trials sponsored by the company, one row per candidate at its most advanced registered trial. FDA approvals: Drugs@FDA. Wrong or missing drug? Report it

💰 Cash Runway & Dilution Risk

SPRO holds $50.8M in cash and short-term investments (as of Jun 30, 2026) and its operations are currently cash-flow neutral or positive.

Dilution pressure: 0 · Low

No operating cash burn in latest filings

Recent financing filings on SEC EDGAR:

Aug 28, 2026 · Shelf registration with ATM program, up to $100M · S-3
Mar 15, 2024 · Shelf registration with ATM program, up to $75M · S-3

Source: SEC EDGAR (XBRL cash flow and financing filings). Dilution Watch: every company ranked → · Get an alert when SPRO files for a raise →

👥 Who Owns SPRO

Insiders 8.5% Institutions 31.3% Public and other holders 60.2%

Holder	Type	Shares	% of shares	As of
GSK PLC	Institution (13G, 5%+)	9,190,606	15.78%	2025-03-27
Pfizer Inc	Institution (13F)	2,362,348	4.06%	2026-06-30
Vanguard Capital Management LLC	Institution (13F)	2,036,226	3.50%	2026-06-30
Sath Shukla CEO & President	Insider	1,736,883	2.98%	2025-02-03
Esther Rajavelu Chief Executive Officer, Chief Financial · +498,000 options	Insider	986,851	1.69%	2026-05-04
Renaissance Technologies, LLC	Institution (13F)	947,904	1.63%	2026-06-30
Alphabet Inc.	Institution (13F)	889,979	1.53%	2026-06-30
Susquehanna International Group, LLP	Institution (13F)	759,290	1.30%	2026-06-30
Timothy Keutzer Chief Operating Officer	Insider	742,506	1.28%	2026-02-06
Ankit Mahadevia Director	Insider	703,294	1.21%	2025-08-28
Blackrock Inc.	Institution (13F)	594,404	1.02%	2026-06-30
Geode Capital Management, LLC	Institution (13F)	566,329	0.97%	2026-06-30

Share count 58,234,827 (latest 10-Q/10-K). Insiders: each officer's, director's and 10% owner's latest Form 3, 4 or 5, direct and indirect shares; options are not counted. 5%+ holders: latest Schedule 13D or 13G of each holder above 5%. Institutions: the largest 13F holders (13F quarter ending 2026-06-30). Sources have different dates, so the split is approximate. Source: SEC EDGAR.

📈 Recent Insider Activity (Form 4)

Trade date	Insider	Transaction	Shares	Price	Owned after
2026-08-03 filed 2026-08-06	Zack Debra	Award (A)	162,311	–	162,311
2026-08-03 filed 2026-08-06	Zack Debra	Option award (A)	324,675	–	–
2026-06-23 filed 2026-06-25	THOMAS FRANK E	Option award (A)	20,000	–	–
2026-06-23 filed 2026-06-25	THOMAS FRANK E	Award (A)	10,000	–	85,000
2026-06-23 filed 2026-06-25	Pottage John C Jr	Award (A)	10,000	–	85,000

Only open-market purchases (P) and sales (S) are trading decisions. Awards (A), option exercises (M) and tax withholding (F) are compensation mechanics. Source: SEC Form 4.

📅 Past FDA Decisions & Stock Reactions

Date	Drug	Type	Run-up 30d	Decision 1d	After 5d
2026-06-18	Utebzi	NDA	-18.2%	+8.1%	-4.3%

Browse all historical PDUFA outcomes →

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Data: SEC EDGAR, FDA, ClinicalTrials.gov, Yahoo Finance • Informational purposes only, not investment advice. • All tracked stocks A–Z