Spero’s stock jumps 188% after GSK licenses experimental antibiotic

Shares of Spero Therapeutics Inc.
SPRO,
+204.20%
soared 188.4% in trading on Thursday morning after the company signed an exclusive license agreement with GlaxoSmithKline
GSK,
-0.12%
for its experimental antibiotic for complicated urinary tract infections. Spero’s therapy, tebipenem HBr, is expected to enter Phase 3 clinical trials next year. If approved, it would offer patients an oral medication option instead of in-hospital intravenous therapy, the companies said. Spero is receiving $66 million upfront, with at least $375 million in milestone payments. Spero’s stock is down 85.4% this year, while the S&P 500
SPX,
-0.68%
has declined 20.5%.