Spero Therapeutics CEO says risk of drug-resistant bacteria driving need for new treatments
The chief executive of Spero Therapeutics (NASDAQ:SPRO) said on Monday there is an urgent need to develop medication to combat the proliferation of drug-resistant bacteria, and an equity research company said the treatment being developed by Spero could transform the standard of care in the field.
“Antibiotic-resistant bacteria are one of the largest threats to global health, and their prevalence is increasing which highlights the critical need for novel therapies,” Ankit Mahadevia said in an email interview with Proactive Investors.
The company recently reported successful results from the final analysis of its Phase 1 test for SPR994, a candidate medication designed to treat infections that are resistant to multiple drugs or antibiotics.
One such disease is complicated urinary tract infections which is an unmet medical need.
Spero said they “anticipate heading directly into a pivotal Phase 3 trial” for this indication around the end of 2018.
Shares of Spero are up almost 1% to trade at $10.61 on Monday.
READ: Spero Therapeutics given Outperform rating and US$30 price target at Oppenheimer
Oppenheimer Equity Research analysts Jay Olson and Silvan Tuerkcan said in a research note to clients the potential of the drug being developed by Spero is compelling and may be a game-changer.
“We believe this study should set the stage for a potentially paradigm-shattering transformation from IV standard of care to oral SPR994 that would result in substantial benefits to patients, physicians and payers,” they said while maintaining their Outperform rating.
“Our bullish thesis on SPRO is based on our view of multiple well-differentiated pipeline assets, two of which we consider relatively de-risked, and further upside potential provided by additional assets. We believe Spero is poised to enter an area of high unmet medical need with innovative treatment options and facilitated regulatory pathways. We forecast Spero’s cash to fund operations into 2019, getting the company past many value-enhancing catalysts,” the Oppenheimer note said.
According to Spero, SPR994, is designed to be the first broad-spectrum oral carbapenem-class antibiotic.
“Treatment with effective orally administrable antibiotics may prevent hospitalizations for serious infections and enable earlier, more convenient and cost-effective treatment of patients after hospitalization,” the company said.
The company has scheduled a pre-Phase 3 meeting with the US Food and Drug Administration (FDA) in the fourth quarter of 2018.
Spero Therapeutics is a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments for multidrug-resistant (MDR) bacterial infections.
The company is based in Cambridge, Massachusetts.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/206112/spero-therapeutics-ceo-says-risk-of-drug-resistant-bacteria-driving-need-for-new-treatments-206112.html
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