$SPRO
Spero Therapeutics Inc

2024 Q2 Form 10-Q Financial Statement

#000095017024060400 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $10.20M $9.267M
YoY Change 275.44% 347.9%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.533M $5.917M
YoY Change -9.24% -19.13%
% of Gross Profit
Research & Development $23.73M $17.33M
YoY Change 149.47% 93.03%
% of Gross Profit
Depreciation & Amortization $2.000K $0.00
YoY Change -98.15% -100.0%
% of Gross Profit
Operating Expenses $29.26M $23.25M
YoY Change 87.48% 42.67%
Operating Profit -$19.06M -$13.98M
YoY Change 47.87% -1.72%
Interest Expense $1.198M $1.327M
YoY Change 22.0% 37.8%
% of Operating Profit
Other Income/Expense, Net $1.199M $1.313M
YoY Change 22.85% 36.63%
Pretax Income -$17.86M -$12.67M
YoY Change 49.92% -4.5%
Income Tax
% Of Pretax Income
Net Earnings -$17.90M -$12.70M
YoY Change 50.42% -4.51%
Net Earnings / Revenue -175.54% -137.05%
Basic Earnings Per Share -$0.33 -$0.24
Diluted Earnings Per Share -$0.33 -$0.24
COMMON SHARES
Basic Shares Outstanding 53.99M 53.87M
Diluted Shares Outstanding 53.96M 53.52M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $63.53M $82.27M
YoY Change -18.23% -14.53%
Cash & Equivalents $63.53M $82.27M
Short-Term Investments
Other Short-Term Assets $3.196M $3.668M
YoY Change -62.71% 3.53%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $122.2M $140.2M
YoY Change 38.34% 37.86%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $2.000K
YoY Change -100.0% -99.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $434.0K $434.0K
YoY Change -92.44% -92.44%
Total Long-Term Assets $27.66M $27.55M
YoY Change 162.56% 153.11%
TOTAL ASSETS
Total Short-Term Assets $122.2M $140.2M
Total Long-Term Assets $27.66M $27.55M
Total Assets $149.9M $167.7M
YoY Change 51.57% 49.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.696M $3.066M
YoY Change 105.8% 425.9%
Accrued Expenses $11.74M $7.105M
YoY Change 60.75% -32.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.63M $41.82M
YoY Change 163.41% 81.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $23.75M $29.63M
YoY Change -11.32% 19.87%
Total Long-Term Liabilities $23.75M $29.63M
YoY Change -11.32% 19.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.63M $41.82M
Total Long-Term Liabilities $23.75M $29.63M
Total Liabilities $69.38M $71.45M
YoY Change 57.32% 49.78%
SHAREHOLDERS EQUITY
Retained Earnings -$421.6M -$403.7M
YoY Change -3.99% -5.48%
Common Stock $502.1M $500.0M
YoY Change 1.67% 1.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $80.50M $96.25M
YoY Change
Total Liabilities & Shareholders Equity $149.9M $167.7M
YoY Change 51.57% 49.01%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$17.90M -$12.70M
YoY Change 50.42% -4.51%
Depreciation, Depletion And Amortization $2.000K $0.00
YoY Change -98.15% -100.0%
Cash From Operating Activities -$18.74M $5.938M
YoY Change 0.97% -146.2%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -18.74M 5.938M
Cash From Investing Activities 0.000
Cash From Financing Activities 0.000
Net Change In Cash -18.74M 5.938M
YoY Change 0.97% -146.2%
FREE CASH FLOW
Cash From Operating Activities -$18.74M $5.938M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001701108
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2023#LicenseMember
CY2023Q1 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2023#LicenseMember
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-38266
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
SPERO THERAPEUTICS, INC.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-4590683
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
675 Massachusetts Avenue,
CY2024Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
14th Floor
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Cambridge
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02139
CY2024Q1 dei City Area Code
CityAreaCode
857
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
242-1600
CY2024Q1 dei Security12b Title
Security12bTitle
Common Stock, $0.001 par value per share
CY2024Q1 dei Trading Symbol
TradingSymbol
SPRO
CY2024Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
53986639
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
82271000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76333000
CY2024Q1 spro Collaboration Receivable Related Parties Current
CollaborationReceivableRelatedPartiesCurrent
49198000
CY2023Q4 spro Collaboration Receivable Related Parties Current
CollaborationReceivableRelatedPartiesCurrent
49152000
CY2024Q1 us-gaap Other Receivables
OtherReceivables
5017000
CY2023Q4 us-gaap Other Receivables
OtherReceivables
1545000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3668000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4178000
CY2024Q1 us-gaap Assets Current
AssetsCurrent
140154000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
131208000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3902000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4155000
CY2024Q1 spro Collaboration Receivable Related Parties Non Current
CollaborationReceivableRelatedPartiesNonCurrent
23211000
CY2023Q4 spro Collaboration Receivable Related Parties Non Current
CollaborationReceivableRelatedPartiesNonCurrent
46590000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
434000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
435000
CY2024Q1 us-gaap Assets
Assets
167703000
CY2023Q4 us-gaap Assets
Assets
182390000
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
3066000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1378000
CY2024Q1 spro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
5380000
CY2023Q4 spro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
6557000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1725000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1718000
CY2024Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
387000
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
387000
CY2024Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2868000
CY2023Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2132000
CY2024Q1 spro Deferred Revenue Current Related Party
DeferredRevenueCurrentRelatedParty
28395000
CY2023Q4 spro Deferred Revenue Current Related Party
DeferredRevenueCurrentRelatedParty
24981000
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
41821000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
37153000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3519000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3825000
CY2024Q1 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
9948000
CY2023Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
10825000
CY2024Q1 spro Deferred Revenue Non Current Related Partys
DeferredRevenueNonCurrentRelatedPartys
16128000
CY2023Q4 spro Deferred Revenue Non Current Related Partys
DeferredRevenueNonCurrentRelatedPartys
23606000
CY2024Q1 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
38000
CY2023Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
87000
CY2024Q1 us-gaap Liabilities
Liabilities
71454000
CY2023Q4 us-gaap Liabilities
Liabilities
75496000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-13266000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
120000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
120000000
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
53869139
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
53869139
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
52999680
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
52999680
CY2024Q1 us-gaap Common Stock Value
CommonStockValue
54000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
53000
CY2024Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
499936000
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
497913000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-403741000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-391072000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
96249000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
106894000
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
167703000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
182390000
CY2024Q1 spro Grant Revenue
GrantRevenue
5063000
CY2023Q1 spro Grant Revenue
GrantRevenue
1329000
CY2024Q1 spro Collaboration Revenue Related Party
CollaborationRevenueRelatedParty
4064000
CY2023Q1 spro Collaboration Revenue Related Party
CollaborationRevenueRelatedParty
517000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
140000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
223000
CY2024Q1 us-gaap Revenues
Revenues
9267000
CY2023Q1 us-gaap Revenues
Revenues
2069000
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17332000
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8979000
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5917000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7317000
CY2024Q1 us-gaap Operating Expenses
OperatingExpenses
23249000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
16296000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-13982000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-14227000
CY2024Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1327000
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
963000
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-14000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000
CY2024Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1313000
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
961000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-12669000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53524037
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53524037
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52527018
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52527018
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-12669000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-13266000
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
0
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
113000
CY2024Q1 spro Non Cash Lease Cost
NonCashLeaseCost
254000
CY2023Q1 spro Non Cash Lease Cost
NonCashLeaseCost
236000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2023000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2170000
CY2024Q1 spro Increase Decrease In Collaboration Receivable Related Party Current And Noncurrent
IncreaseDecreaseInCollaborationReceivableRelatedPartyCurrentAndNoncurrent
-23333000
CY2023Q1 spro Increase Decrease In Collaboration Receivable Related Party Current And Noncurrent
IncreaseDecreaseInCollaborationReceivableRelatedPartyCurrentAndNoncurrent
0
CY2024Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
3472000
CY2023Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
781000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-510000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
164000
CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
0
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1688000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-34000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1177000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-111000
CY2024Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-141000
CY2023Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-224000
CY2024Q1 spro Increase Decrease In Deferred Revenue Related Party
IncreaseDecreaseInDeferredRevenueRelatedParty
-4064000
CY2023Q1 spro Increase Decrease In Deferred Revenue Related Party
IncreaseDecreaseInDeferredRevenueRelatedParty
-516000
CY2024Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-49000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-11000
CY2024Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-299000
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-265000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5938000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12853000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5938000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12853000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
76333000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
109107000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
82271000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
96254000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
106894000
CY2024Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
1000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2023000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-12669000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
96249000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
75934000
CY2023Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
1000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2170000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-13266000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
64839000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-12700000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-13300000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-403700000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="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="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-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>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="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="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-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="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-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-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">March 31, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and December 31, 2023, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;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>
CY2024Q1 us-gaap Concentration Risk Credit Risk Financial Instruments Off Balance Sheet Risk
ConcentrationRiskCreditRiskFinancialInstrumentsOffBalanceSheetRisk
As of March 31, 2024 and December 31, 2023, the Company had no off-balance sheet risks, including but not limited, to foreign exchange contracts, option contracts, or other hedging arrangements.
CY2024Q1 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
0
CY2023Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
0
CY2024Q1 spro Percentage Of Tax Benefit Recognized
PercentageOfTaxBenefitRecognized
0.50
CY2024Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
700000
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
700000
CY2024Q1 spro Fair Value Liabilities Of Level2 To Level1 Transfers Amount
FairValueLiabilitiesOfLevel2ToLevel1TransfersAmount
0
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1302000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3339000
CY2024Q1 spro Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
2995000
CY2023Q4 spro Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
2274000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
875000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
708000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
208000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
236000
CY2024Q1 spro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
5380000
CY2023Q4 spro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
6557000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2865594
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.89
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y9M3D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
35604
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.52
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
20135
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
13.66
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2881063
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.75
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M3D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2881063
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.75
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y6M3D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
8000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2488009
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.37
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y2M19D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
2000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2023000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2170000
CY2024Q1 spro Milestone Payment Upon Submission Of A New Drug Application
MilestonePaymentUponSubmissionOfANewDrugApplication
225000000
CY2024Q1 spro Sales Milestone Events
SalesMilestoneEvents
1000000000
CY2023Q4 spro Total Milestone
TotalMilestone
95000000
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12669000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13266000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53524037
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53524037
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52527018
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52527018
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10424306
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8373094
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
CY2024Q1 ecd Trd Arr Ind Name
TrdArrIndName
Satyavrat Shukla
CY2024Q1 ecd Trd Arr Ind Title
TrdArrIndTitle
President and Chief Executive Officer
CY2024Q1 ecd Trd Arr Termination Date
TrdArrTerminationDate
February 15, 2024

Files In Submission

Name View Source Status
0000950170-24-060400-index-headers.html Edgar Link pending
0000950170-24-060400-index.html Edgar Link pending
0000950170-24-060400.txt Edgar Link pending
0000950170-24-060400-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
spro-20240331.htm Edgar Link pending
spro-20240331.xsd Edgar Link pending
spro-ex10_1.htm Edgar Link pending
spro-ex10_4.htm Edgar Link pending
spro-ex31_1.htm Edgar Link pending
spro-ex31_2.htm Edgar Link pending
spro-ex32.htm Edgar Link pending
spro-20240331_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable