AI-extracted from the 10-Q filed 2026-08-12 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Spero recorded no revenue in Q2 2026, down $14.2M from a year earlier, and a $9.6M net loss as GSK collaboration and BARDA grant revenue ceased.
Biggest Revenue Drivers
Collaboration revenue - related party (GSK)$0-$11.8M YoY
Decrease "primarily related to the achievement of remaining development milestone activities under the agreement"
Grant revenue (BARDA contract, tebipenem pivoxil)$0-$2.4M YoY
Decrease "primarily due to a decrease of $2.4 million of committed funds remaining available under our BARDA contract"
Biggest Revenue Drivers
Total revenue: $0-$14.2M YoY
Collaboration revenue - related party (GSK)$0-$11.8M YoY
Decrease "primarily related to the achievement of remaining development milestone activities under the agreement"
Grant revenue (BARDA contract, tebipenem pivoxil)$0-$2.4M YoY
Decrease "primarily due to a decrease of $2.4 million of committed funds remaining available under our BARDA contract"
Largest Expense Items
General and administrative$6.5M+$0.6M YoY
Professional and consultant fees rose $2.2M on business development, legal and consulting; personnel costs fell $1.6M on lower headcount
Research and development$3.4M-$7.2M YoY
Tebipenem pivoxil direct costs fell $5.4M on decreased Phase 3 PIVOT-PO activity; personnel costs fell $1.3M
Professional and consultant fees (within G&A)$4.2M+$2.2M YoY
Increase in business development, legal and consulting expenses in the quarter
Margins: No margin discussion; the filing reports a $9.9M loss from operations versus $2.4M a year ago, driven by revenue falling to zero against $9.9M of operating expenses.
Watch Items from the Filing
BARDA contract mutually terminated July 6, 2026 with all remaining funds deobligated; no further BARDA funding, after $65.1M of $65.6M committed was already recognized.
July 2026 $105.0M HCRx royalty financing: notes accrue 10% interest and Spero retains only 35% of GSK Proceeds arising after the notes are repaid.
Innovent license for SP001 obligates a $35.0M upfront payment plus up to ~$1.05 billion in milestones and high single-digit to mid-teen royalties.
Remaining GSK upside: $101.0M of commercial milestones and $225.0M of sales milestones, with royalties of 1% on annual net sales up to $750.0M.
Cash of $50.8M plus royalty financing proceeds funds operations into the second half of 2029; accumulated deficit is $467.8M with no product sales revenue.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About Spero Therapeutics, Inc. (SPRO): stock profile, AI score and financials
Spero Therapeutics, Inc. (SPRO) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores SPRO at 49.2/100 on a composite quality score built from its SEC filings, placing it at rank #1,698 of 2,925 stocks — the bottom half of the AI-ranked universe. SPRO scores in the top quartile across free cash flow (92.1), balance sheet strength (90.3), earnings quality (87.9). Areas of concern include revenue growth (1.3) and revenue scale (8.6), which score below median versus the broader universe. Shareholder dilution risk is elevated at 20.9/100, reflecting ongoing share issuance or stock-based compensation. Top institutional holders of SPRO by reported 13-F value include GSK plc, PFIZER, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. SPRO trades on the Nasdaq exchange and files with the SEC under CIK 1701108. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SPRO daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Spero Therapeutics, Inc. directly from SEC EDGAR.