Spero Therapeutics (SPRO) to Raise $75 Million in IPO
Spero Therapeutics (SPRO) expects to raise $75 million in an initial public offering on Thursday, November 2nd, IPO Scoop reports. The company plans to issue 5,000,000 shares at a price of $14.00-$16.00 per share.
Spero Therapeutics has a market-cap of $201 million.
BofA Merrill Lynch, Cowen and Stifel served as the underwriters for the IPO and Oppenheimer & Co. was co-manager.
Spero Therapeutics provided the following description of their company for its IPO: “We are a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments for MDR bacterial infections. Our most advanced product candidate, SPR994, is designed to be the first broad-spectrum oral carbapenem-class antibiotic for use in adults to treat 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. We also have a platform technology known as our Potentiator Platform that we believe will enable us to develop drugs that will expand the spectrum and potency of existing antibiotics, including formerly inactive antibiotics, against Gram-negative bacteria. “.
Spero Therapeutics was founded in 2013 and has 25 employees. The company is located at 675 Massachusetts Avenue, Cambridge, MA 02139, US and can be reached via phone at (857) 242-1600 or on the web at http://www.sperotherapeutics.com.
Receive News & Ratings for Spero Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spero Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.