$SPRO
Spero Therapeutics Inc

2018 Q1 Form 10-K Financial Statement

#000156459018007402 Filed on April 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 2016 Q4
Revenue $1.153M $1.979M $335.0K
YoY Change 723.57% 490.75%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.040M $10.84M $2.220M
YoY Change 74.71% 50.14%
% of Gross Profit
Research & Development $8.925M $32.87M $6.930M
YoY Change 48.77% 24.82%
% of Gross Profit
Depreciation & Amortization $95.00K $363.0K $90.00K
YoY Change 9.2% 30.11%
% of Gross Profit
Operating Expenses $11.97M $43.71M $9.145M
YoY Change 54.66% 30.26%
Operating Profit -$10.82M -$41.73M
YoY Change 42.33% 25.61%
Interest Expense $172.0K $303.0K $620.0K
YoY Change -1663.64% -47.76%
% of Operating Profit
Other Income/Expense, Net $172.0K $1.844M $0.00
YoY Change -85.52% 217.93%
Pretax Income -$10.64M -$38.71M -$8.200M
YoY Change 65.99% 42.57%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$10.64M -$38.70M -$7.211M
YoY Change 81.14% 51.76%
Net Earnings / Revenue -923.16% -1955.53% -2152.54%
Basic Earnings Per Share
Diluted Earnings Per Share -$740.4K -$2.696M -$518.7K
COMMON SHARES
Basic Shares Outstanding 14.37M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.40M $87.30M
YoY Change 747.57%
Cash & Equivalents $52.55M $87.30M $10.32M
Short-Term Investments $22.80M
Other Short-Term Assets $1.200M $1.800M
YoY Change 38.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $79.74M $92.10M $11.87M
YoY Change 673.95%
LONG-TERM ASSETS
Property, Plant & Equipment $1.070M $1.200M $1.500M
YoY Change -20.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $300.0K
YoY Change 0.0%
Total Long-Term Assets $1.321M $1.400M $1.900M
YoY Change -26.32%
TOTAL ASSETS
Total Short-Term Assets $79.74M $92.10M $11.87M
Total Long-Term Assets $1.321M $1.400M $1.900M
Total Assets $81.06M $93.50M $13.77M
YoY Change 577.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $982.0K $3.500M $1.139M
YoY Change 218.18%
Accrued Expenses $4.500M $4.300M
YoY Change 48.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.834M $8.200M $6.918M
YoY Change 18.84%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K $400.0K
YoY Change -20.0%
Total Long-Term Liabilities $300.0K $400.0K
YoY Change -20.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.834M $8.200M $6.918M
Total Long-Term Liabilities $300.0K $400.0K
Total Liabilities $6.161M $8.900M $7.411M
YoY Change 147.22%
SHAREHOLDERS EQUITY
Retained Earnings -$107.5M -$45.44M
YoY Change
Common Stock $14.00K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $74.54M $84.60M -$45.44M
YoY Change
Total Liabilities & Shareholders Equity $81.06M $93.50M $13.77M
YoY Change 577.54%

Cashflow Statement

Concept 2018 Q1 2017 2016 Q4
OPERATING ACTIVITIES
Net Income -$10.64M -$38.70M -$7.211M
YoY Change 81.14% 51.76%
Depreciation, Depletion And Amortization $95.00K $363.0K $90.00K
YoY Change 9.2% 30.11%
Cash From Operating Activities -$11.96M -$39.11M -$9.200M
YoY Change 71.36% 35.06%
INVESTING ACTIVITIES
Capital Expenditures $27.00K -$260.0K
YoY Change -96.75%
Acquisitions
YoY Change
Other Investing Activities -$22.83M
YoY Change
Cash From Investing Activities -$22.83M -$27.00K -$260.0K
YoY Change -96.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 116.1M 8.500M
YoY Change -100.0% 237.4%
NET CHANGE
Cash From Operating Activities -11.96M -39.11M -9.200M
Cash From Investing Activities -22.83M -27.00K -260.0K
Cash From Financing Activities 0.000 116.1M 8.500M
Net Change In Cash -34.79M 76.97M -960.0K
YoY Change -196.57% 1564.64%
FREE CASH FLOW
Cash From Operating Activities -$11.96M -$39.11M -$9.200M
Capital Expenditures $27.00K -$260.0K
Free Cash Flow -$39.14M -$8.940M
YoY Change 31.38%

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ProceedsFromIssuanceInitialPublicOffering
77749000
CY2017 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3574000
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
30000
CY2017 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1175000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
116111000
CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
34413000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
15275000
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
76973000
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4624000
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5435000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5691000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
256000
CY2017 spro Conversion Of Bridge Units Into Preferred Units
ConversionOfBridgeUnitsIntoPreferredUnits
8500000
CY2015 spro Conversion Of Bridge Units Into Preferred Units
ConversionOfBridgeUnitsIntoPreferredUnits
8000000
CY2017 spro Conversion Of Preferred Stock To Common Stock
ConversionOfPreferredStockToCommonStock
107018000
CY2017 spro Settlement Of Derivative Liability Upon Issuance Of Preferred Units
SettlementOfDerivativeLiabilityUponIssuanceOfPreferredUnits
944000
CY2015 spro Settlement Of Derivative Liability Upon Issuance Of Preferred Units
SettlementOfDerivativeLiabilityUponIssuanceOfPreferredUnits
888000
CY2016 spro Issuance Of Tranche Rights With Preferred Units
IssuanceOfTrancheRightsWithPreferredUnits
909000
CY2015 spro Issuance Of Tranche Rights With Preferred Units
IssuanceOfTrancheRightsWithPreferredUnits
2401000
CY2016 spro Deemed Contribution Of Capital
DeemedContributionOfCapital
2408000
CY2015 spro Deemed Contribution Of Capital
DeemedContributionOfCapital
1419000
CY2016 spro Settlement Of Derivative Liability Upon Issuance Of Bridge Units
SettlementOfDerivativeLiabilityUponIssuanceOfBridgeUnits
305000
CY2016 us-gaap Payments Of Derivative Issuance Costs
PaymentsOfDerivativeIssuanceCosts
908000
CY2017 spro Accretion Of Redeemable Convertible Preferred Units And Stock To Redemption Value
AccretionOfRedeemableConvertiblePreferredUnitsAndStockToRedemptionValue
632000
CY2016 spro Accretion Of Redeemable Convertible Preferred Units And Stock To Redemption Value
AccretionOfRedeemableConvertiblePreferredUnitsAndStockToRedemptionValue
969000
CY2015 spro Accretion Of Redeemable Convertible Preferred Units And Stock To Redemption Value
AccretionOfRedeemableConvertiblePreferredUnitsAndStockToRedemptionValue
34000
CY2017 spro Accretion Of Bridge Units To Redemption Value
AccretionOfBridgeUnitsToRedemptionValue
576000
CY2016 spro Accretion Of Bridge Units To Redemption Value
AccretionOfBridgeUnitsToRedemptionValue
27000
CY2015 spro Accretion Of Bridge Units To Redemption Value
AccretionOfBridgeUnitsToRedemptionValue
2307000
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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, the accrual for research and development expenses, the valuation of common shares prior to the Company&#8217;s IPO, the valuation of share-based awards and the valuation of derivative liabilities. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. 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. </p></div>
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of Credit Risk and of Significant Suppliers </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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. </p></div>
CY2017 spro Entity Incorporation Month And Year
EntityIncorporationMonthAndYear
2013-12
CY2017 dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Delaware
CY2017 us-gaap Business Acquisition Date Of Acquisition Agreement1
BusinessAcquisitionDateOfAcquisitionAgreement1
2017-06-30
CY2017 spro Business Combination Exchange Ratio
BusinessCombinationExchangeRatio
1
CY2016Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2017Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2016Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2017Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2016Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2017Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2016Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2017Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2016Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1807000
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1790000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
643000
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
290000
CY2017Q4 spro Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
1770000
CY2016Q4 spro Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
627000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1369000
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1018000
CY2017Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
878000
CY2016Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1062000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
304000
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
221000
CY2017Q2 spro Convertible Preferred Shares To Common Shares Conversion Ratio
ConvertiblePreferredSharesToCommonSharesConversionRatio
1
CY2017 spro Minimum Value Of Proceeds From Initial Public Offering For Conversion Of Preferred Units
MinimumValueOfProceedsFromInitialPublicOfferingForConversionOfPreferredUnits
50000000
CY2017 spro Temporary Equity Percentage Of Voting To Be Held By Holders Of Senior Preferred Stock For Deemed Liquidation Preference
TemporaryEquityPercentageOfVotingToBeHeldByHoldersOfSeniorPreferredStockForDeemedLiquidationPreference
0.60
CY2017 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.08
CY2017 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0
CY2016 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0
CY2017 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0
CY2016 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0
CY2017 spro Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2021-02-01
CY2017Q4 spro Temporary Equity Redemption Number Of Annual Installments
TemporaryEquityRedemptionNumberOfAnnualInstallments
3
CY2017 spro Preferred Stock Notice Period For Redemption
PreferredStockNoticePeriodForRedemption
P60D
CY2017Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
61917986
CY2017Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders.
CY2016 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
21116
CY2016Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.001
CY2017Q4 spro Unvested Restricted Common Units Outstanding
UnvestedRestrictedCommonUnitsOutstanding
0
CY2016Q4 spro Unvested Restricted Common Units Outstanding
UnvestedRestrictedCommonUnitsOutstanding
7062
CY2015Q4 spro Unvested Restricted Common Units Outstanding
UnvestedRestrictedCommonUnitsOutstanding
75210
CY2016Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
800000
CY2016 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D
CY2017Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
5.90
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.013
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.015
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M18D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M18D
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.771
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.765
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.626
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-38706000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-27148000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1180000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-5493000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-321000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-39886000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-32641000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.033
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.017
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.053
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.044
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.001
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.023
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.001
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.048
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.238
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.188
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.330
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
21754000
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
16406000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12076000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
76000000
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
2022000
CY2016Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
697000
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
743000
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
49000
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
24519000
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
17152000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
24519000
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17152000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
76400000
CY2017 spro Operating Loss Carryforward Federal And State Expiration Year Start
OperatingLossCarryforwardFederalAndStateExpirationYearStart
2033
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
4300000
CY2017 spro Ownership Change Increase In Ownership By Maximum Percentage
OwnershipChangeIncreaseInOwnershipByMaximumPercentage
0.50
CY2017 spro Ownership Change Increase In Ownership Percentage Term
OwnershipChangeIncreaseInOwnershipPercentageTerm
P3Y
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
6157000
CY2017 spro Valuation Allowance Deferred Tax Asset Increase In Amount
ValuationAllowanceDeferredTaxAssetIncreaseInAmount
7367000
CY2016 spro Valuation Allowance Deferred Tax Asset Increase In Amount
ValuationAllowanceDeferredTaxAssetIncreaseInAmount
10995000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2017 spro Tax Cuts And Jobs Act Of2017 Net Operating Losses Limitation Percentage
TaxCutsAndJobsActOf2017NetOperatingLossesLimitationPercentage
0.80
CY2017 spro Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Decrease In Deferred Tax Asset
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateDecreaseInDeferredTaxAsset
9400000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
820000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
808000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
499000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2127000
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
800000
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
400000
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2011296
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2642784
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1428971
CY2017 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0
CY2016 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0
CY2015 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0
CY2017Q1 us-gaap Revenue From Grants
RevenueFromGrants
140000
CY2017Q2 us-gaap Revenue From Grants
RevenueFromGrants
249000
CY2017Q3 us-gaap Revenue From Grants
RevenueFromGrants
597000
CY2017Q4 us-gaap Revenue From Grants
RevenueFromGrants
993000
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
7739000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
10414000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
10563000
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
14993000
CY2017Q1 us-gaap Profit Loss
ProfitLoss
-6411000
CY2017Q2 us-gaap Profit Loss
ProfitLoss
-9763000
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-9844000
CY2017Q4 us-gaap Profit Loss
ProfitLoss
-13868000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-5876000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-9169000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-9836000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-13862000
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7130000
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12121000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
7914000
CY2017Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14770000
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-21.60
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-36.21
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-36.02
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.59
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
330075
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
334788
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
335285
CY2017Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9273783
CY2016Q4 us-gaap Revenue From Grants
RevenueFromGrants
335000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
8417000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
8080000
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
9145000
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-8430000
CY2016Q2 us-gaap Profit Loss
ProfitLoss
-8096000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-7918000
CY2016Q4 us-gaap Profit Loss
ProfitLoss
-8197000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-5905000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-6059000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-6316000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-7211000
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6257000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7928000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7410000
CY2016Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8333000
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-21.51
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-25.30
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-23.23
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-25.68
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
290884
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
313414
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
318948
CY2016Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
324521

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