$SPRO
Spero Therapeutics, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023062897 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $73.52M $25.47M $2.006M
YoY Change 54.98% 1169.84% -34.53%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.433M $5.710M $6.632M
YoY Change -0.95% -13.9% -40.53%
% of Gross Profit
Research & Development $16.56M $16.39M $7.360M
YoY Change 9.73% 122.73% -49.02%
% of Gross Profit
Depreciation & Amortization $38.00K $110.0K $257.0K
YoY Change -70.54% -57.2% 73.65%
% of Gross Profit
Operating Expenses $22.99M $27.41M $13.84M
YoY Change 6.51% 98.03% -45.91%
Operating Profit -$1.934M -$11.83M
YoY Change -83.66% -47.46%
Interest Expense $1.043M $950.0K $182.0K
YoY Change 21.85% 421.98% 102.22%
% of Operating Profit
Other Income/Expense, Net $3.000K $940.0K $159.0K
YoY Change -133.33% 491.19% 5200.0%
Pretax Income $51.58M -$990.0K -$11.68M
YoY Change 92.66% -91.52% -48.16%
Income Tax $387.0K $2.200M $0.00
% Of Pretax Income 0.75%
Net Earnings $51.19M -$3.200M -$11.70M
YoY Change 91.22% -72.65% -48.0%
Net Earnings / Revenue 69.63% -12.56% -583.25%
Basic Earnings Per Share -$0.06 -$0.33
Diluted Earnings Per Share $0.95 -$0.06 -$0.33
COMMON SHARES
Basic Shares Outstanding 53.00M 52.70M 35.07M
Diluted Shares Outstanding 52.71M 35.88M

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.33M $93.80M $50.45M
YoY Change -30.04% 85.94% -59.13%
Cash & Equivalents $76.33M $93.83M $50.45M
Short-Term Investments $0.00
Other Short-Term Assets $4.178M $5.400M $1.488M
YoY Change 23.65% 262.9% -74.2%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $131.2M $102.2M $52.89M
YoY Change 15.53% 93.28% -59.86%
LONG-TERM ASSETS
Property, Plant & Equipment $2.000K $41.00K $494.0K
YoY Change -99.46% -91.7% -59.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $435.0K $434.0K $5.739M
YoY Change -92.42% -92.44% 10.11%
Total Long-Term Assets $51.18M $4.879M $11.59M
YoY Change 355.68% -57.9% -10.32%
TOTAL ASSETS
Total Short-Term Assets $131.2M $102.2M $52.89M
Total Long-Term Assets $51.18M $4.879M $11.59M
Total Assets $182.4M $107.1M $64.48M
YoY Change 46.14% 66.11% -55.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.378M $1.103M $2.582M
YoY Change 123.34% -57.28% -18.32%
Accrued Expenses $8.275M $8.300M $9.776M
YoY Change -22.4% -15.1% -21.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $37.15M $25.46M $16.23M
YoY Change 71.62% 56.92% -5.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $38.34M $27.90M $15.77M
YoY Change 40.87% 76.95% 1.47%
Total Long-Term Liabilities $38.34M $27.90M $15.77M
YoY Change 40.87% 76.95% 1.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.15M $25.46M $16.23M
Total Long-Term Liabilities $38.34M $27.90M $15.77M
Total Liabilities $75.50M $53.40M $31.99M
YoY Change 54.49% 66.9% -2.45%
SHAREHOLDERS EQUITY
Retained Earnings -$391.1M -$442.3M -$440.6M
YoY Change -5.51% 0.39% 30.28%
Common Stock $498.0M $496.0M $473.1M
YoY Change 1.66% 4.83% 5.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $106.9M $53.71M $32.48M
YoY Change
Total Liabilities & Shareholders Equity $182.4M $107.1M $64.48M
YoY Change 46.14% 66.11% -55.44%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $51.19M -$3.200M -$11.70M
YoY Change 91.22% -72.65% -48.0%
Depreciation, Depletion And Amortization $38.00K $110.0K $257.0K
YoY Change -70.54% -57.2% 73.65%
Cash From Operating Activities -$17.49M $15.92M -$957.0K
YoY Change -139.33% -1763.53% -80.67%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$129.0K
YoY Change -100.0% -100.76%
Cash From Investing Activities $0.00 $0.00 -$129.0K
YoY Change -100.0% -100.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.000K 220.0K 6.131M
YoY Change -99.99% -96.41% -79.02%
NET CHANGE
Cash From Operating Activities -17.49M 15.92M -957.0K
Cash From Investing Activities 0.000 0.000 -129.0K
Cash From Financing Activities 1.000K 220.0K 6.131M
Net Change In Cash -17.49M 16.14M 5.045M
YoY Change -129.82% 219.92% -87.78%
FREE CASH FLOW
Cash From Operating Activities -$17.49M $15.92M -$957.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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ProfitLoss
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us-gaap Depreciation Depletion And Amortization
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NonCashLeaseCost
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Share Based Compensation
ShareBasedCompensation
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ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
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us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
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spro Non Cash Interest Expense Associated With The Sale Of Future Royalties
NonCashInterestExpenseAssociatedWithTheSaleOfFutureRoyalties
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spro Non Cash Interest Expense Associated With The Sale Of Future Royalties
NonCashInterestExpenseAssociatedWithTheSaleOfFutureRoyalties
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spro Loss On Extinguishment Of Liability Related To The Sale Of Future Royalties
LossOnExtinguishmentOfLiabilityRelatedToTheSaleOfFutureRoyalties
0
spro Loss On Extinguishment Of Liability Related To The Sale Of Future Royalties
LossOnExtinguishmentOfLiabilityRelatedToTheSaleOfFutureRoyalties
3581000
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
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us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
0
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
486000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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IncreaseDecreaseInOtherNoncurrentLiabilities
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IncreaseDecreaseInOperatingLeaseLiability
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IncreaseDecreaseInOperatingLeaseLiability
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IncomeTaxesPaidNet
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IncomeTaxesPaidNet
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NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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spro Repayment Of Liability Related To The Sale Of Future Royalties
RepaymentOfLiabilityRelatedToTheSaleOfFutureRoyalties
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spro Repayment Of Liability Related To The Sale Of Future Royalties
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54485000
us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
220000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q2 us-gaap Stockholders Equity
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CY2023Q3 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
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CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1908000
CY2023Q3 us-gaap Profit Loss
ProfitLoss
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
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us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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us-gaap Profit Loss
ProfitLoss
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2022Q3 us-gaap Stock Issued During Period Value New Issues
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CY2022Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2022Q3 us-gaap Profit Loss
ProfitLoss
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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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StockIssuedDuringPeriodValueStockOptionsExercised
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us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
2000
us-gaap Profit Loss
ProfitLoss
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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
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NetIncomeLoss
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CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, revenue recognition, the accrual for clinical trial costs and other research and development expenses and the valuation of share-based awards. There may be changes to those estimates in future periods. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Actual results may differ from those estimates or assumptions.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk and of Significant Suppliers</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains most of its cash and cash equivalents at one accredited financial institution. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is dependent on third-party manufacturers to supply products for research and development activities in its programs. In particular, the Company relies and expects to continue to rely on a small number of manufacturers to supply it with its requirements for the active pharmaceutical ingredients and formulated drugs related to these programs. These programs could be adversely affected by a significant interruption in the supply of active pharmaceutical ingredients and formulated drugs. </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, and December 31, 2022, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> off-balance sheet risks, including but not limited to foreign exchange contracts, option contracts, or other hedging arrangements.</span></span></p>
us-gaap Concentration Risk Credit Risk Financial Instruments Off Balance Sheet Risk
ConcentrationRiskCreditRiskFinancialInstrumentsOffBalanceSheetRisk
As of September 30, 2023, and December 31, 2022, the Company had no off-balance sheet risks, including but not limited to foreign exchange contracts, option contracts, or other hedging arrangements.
CY2023Q3 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
0
CY2022Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
0
CY2023Q3 spro Percentage Of Tax Benefit Recognized
PercentageOfTaxBenefitRecognized
0.50
spro Number Of Equity Compensation Plans
NumberOfEquityCompensationPlans
2
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
250000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.29
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.94
CY2023Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
700000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
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spro Fair Value Liabilities Of Level2 To Level1 Transfers Amount
FairValueLiabilitiesOfLevel2ToLevel1TransfersAmount
0
CY2023Q3 spro Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
2148000
CY2022Q4 spro Accrued External Research And Development Expenses Current
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1823000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
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CY2022Q4 us-gaap Employee Related Liabilities Current
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CY2022Q4 us-gaap Accrued Professional Fees Current
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CY2023Q3 spro Accrued Restructuring Expenses
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CY2022Q4 spro Accrued Restructuring Expenses
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CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2022Q4 us-gaap Other Accrued Liabilities Current
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CY2023Q3 spro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
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CY2022Q4 spro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3979099
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
1110322
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2915190
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M13D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y10M13D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2346087
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
11845127
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2023Q3 us-gaap Share Based Compensation
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CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
5935000
us-gaap Share Based Compensation
ShareBasedCompensation
6626000
CY2023Q3 spro Milestone Payment Upon Submission Of A New Drug Application
MilestonePaymentUponSubmissionOfANewDrugApplication
225000000
CY2023Q3 spro Sales Milestone Events
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CY2023Q3 spro Milestone Allocated Research And Development Services
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CY2023Q3 us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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CY2022Q3 us-gaap Restructuring Charges
RestructuringCharges
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us-gaap Restructuring Charges
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CY2022Q4 us-gaap Restructuring Reserve
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us-gaap Restructuring Charges
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us-gaap Payments For Restructuring
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us-gaap Restructuring Reserve Settled Without Cash2
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CY2023Q3 us-gaap Restructuring Reserve
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CY2023Q3 us-gaap Income Tax Expense Benefit
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CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2023Q3 us-gaap Profit Loss
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CY2022Q3 us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11675000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-73186000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52710280
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52710280
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35882076
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35882076
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52603709
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52603709
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33834198
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33834198
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.16
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7747834
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5161421
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7747834
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5161421

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spro-20230930_htm.xml Edgar Link completed