logo
  

Why Spero Therapeutics Stock Falling In Pre-market?

Spero Therapeutics, Inc. (SPRO) said the company will immediately defer current commercialization activities for tebipenem HBr based on feedback from a recent Late Cycle Meeting with the FDA regarding New Drug Application for tebipenem HBr. The discussion suggested that the data package may be insufficient to support approval during this review cycle, the company noted.

Spero also announced that it is undertaking a reduction in workforce by approximately 75% and a restructuring of operations to reduce operating costs and reallocate resources towards the clinical development programs of SPR720 and SPR206.

Shares of Spero Therapeutics were down 70% in pre-market trade on Tuesday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ride-hailing company Lyft announced its foray into the media and advertisement business with the launch of Lyft Media as part of its vision to build the world's largest transportation media network. Lyft Media has built a suite of new products to allow advertisers to engage with Lyft's growing audience throughout their transportation journeys. Sysco Corp. (SYY) Tuesday reported a more than a three-times surge in fourth-quarter earnings, supported by 17.5 percent growth in sales. The company projects fiscal 2023 adjusted earnings to grow. Earnings for the quarter spiked to $509.99 million from $151.09 million last year. On a per share basis,... Longmont Colorado -based Royal Crest Dairy is recalling 2% Chocolate Milk citing the potential to be contaminated with undeclared egg, a known allergen, the U.S. Food and Drug Administration said. The recall involves Farmer's 2% Reduced Fat Chocolate Milk Pints with the code date of AUG-22.
Follow RTT