Shares of Spero Therapeutics Inc.
rose 188.4% in trading Thursday morning after the company signed an exclusive licensing deal with GlaxoSmithKline
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
has fallen by 20.5%.