Spero Therapeutics Shares Take Flight Premarket on GSK Pact
22 September 2022 - 08:30PM
Dow Jones News
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.
Gsk (LSE:GSK)
Historical Stock Chart
From Nov 2023 to Dec 2023
Gsk (LSE:GSK)
Historical Stock Chart
From Dec 2022 to Dec 2023
