Company: Spero Therapeutics, Inc.
Symbol: SPRO
Description: They are a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments for multi-drug resistant bacterial infections.
Shares: 5 million
Price Range: $14.00-$16.00
Trade Date: 11/2
Underwriter(s): BofA Merrill Lynch, Cowen & Company, Stifel
Co-Manager(s): Oppenheimer & Co.
Terms Added: 10-23-17
Business: Their most advanced product candidate, SPR994, is designed to be the first broad-spectrum oral carbapenem-class antibiotic for use in adults to treat multi-drug resistant, or MDR, Gram-negative infections. Treatment with effective orally administrable antibiotics may prevent hospitalizations for serious infections and enable earlier, more convenient and cost-effective treatment of patients after hospitalization. They also have a platform technology known as our Potentiator Platform that they believe will enable them to develop drugs that will expand the spectrum and potency of existing antibiotics, including formerly inactive antibiotics, against Gram-negative bacteria. Our lead product candidates generated from our Potentiator Platform are two intravenous, or IV,-administered agents, SPR741 and SPR206, designed to treat MDR Gram-negative infections in the hospital setting. In addition, they are developing SPR720, an oral antibiotic designed for the treatment of pulmonary non-tuberculous mycobacterial infections. They believe that our novel product candidates, if successfully developed and approved, would have a meaningful patient impact and significant commercial applications for the treatment of MDR infections in both the community and hospital settings.
Insider Buying: Certain of their existing stockholders, including certain affiliates of their directors, have indicated an interest in purchasing an aggregate of approximately $30.0 million of shares of common stock in this offering at the initial public offering price.
Sector Performance: Below is a chart of the Healthcare sector of the IPO market in 2017 for companies that raised greater than $25m. Prices are as of the close 10.26.17.
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