Spero Stock Falls With Two Weeks Left Until FDA Decision
Spero Therapeutics shares slipped late Wednesday, missing gains seen in the wider biotech sector. Traders watched for a June 18 U.S. decision on tebipenem HBr, Spero’s antibiotic that’s partnered with GSK. The stock changed hands at $2.80, off 1.1%, giving the company a market cap around $151 million. The SPDR S&P Biotech ETF was ahead 1.5%. Spero shares traded with a clear catalyst ahead. The biotech said the Food and Drug Administration gave a June 18 PDUFA date for tebipenem HBr’s new drug application. That's the target for an FDA decision on whether to approve the drug.