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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Spero Therapeutics Inc | NASDAQ:SPRO | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.06 | 4.20% | 1.49 | 1.45 | 1.63 | 1.51 | 1.42 | 1.44 | 165,357 | 05:00:12 |
From Apr 2022 to Apr 2024
By Colin Kellaher
Shares of Spero Therapeutics Inc. nearly doubled in premarket trading Thursday after the clinical-stage biopharmaceutical company agreed to license tebipenem HBr, its late-stage antibiotic asset, to U.K. pharma major GSK PLC in a deal potentially worth hundreds of millions of dollars to Spero.
Under the agreement, Spero will receive an upfront payment of $66 million from GSK, which also will invest $9 million to buy 7.45 million Spero shares at around $1.21 apiece, a 47% premium to Wednesday's closing price of about 82.2 cents for the Cambridge, Mass., company.
Spero said it is also eligible for up to $525 million in future milestone payments, along with royalties on sales.
Spero shares were recently up 92% to $1.58 in premarket trading Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 22, 2022 06:15 ET (10:15 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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