Shares of Spero Therapeutics Inc. SPRO, +228.67% soared 188.4% in trading on Thursday morning after the company signed an exclusive license agreement with GlaxoSmithKline GSK, -0.60% 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, -1.06% has declined 20.5%.
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