Tech

Spero’s stock rises 188% after GSK licenses an experimental antibiotic

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Shares of Spero Therapeutics Inc.
SPRO,
+170.27%

rose 188.4% in trading Thursday morning after the company signed an exclusive licensing deal with GlaxoSmithKline
GSK,
+0.08%

for his 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 provide patients with an option for oral medications rather than in-hospital intravenous therapy, the companies said. Spero will receive $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
spx,
-0.81%

has fallen by 20.5%.

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