SPRO on Nasdaq

Spero Therapeutics, Inc.

We are a clinical-stage biopharmaceutical company focused on identifying and developing novel treatments for rare diseases and diseases with high unmet need.4 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerSPRO on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersCambridge, United States2
  • Incorporated inDE3
  • Business address675 Massachusetts Avenue, 14Th Floor, Cambridge, Ma 021393
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI54930074G13LHWJT23232
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 54482872

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We are a clinical-stage biopharmaceutical company focused on identifying and developing novel treatments for rare diseases and diseases with high unmet need. Since our inception in 2013, we have focused our efforts and financial resources on acquiring and developing product and technology rights, building our intellectual property portfolio and conducting research and development activities for our product candidates. We do not have any products approved for sale and have not generated any revenue from product sales.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

50.2%Operating margin5
68.1%Net margin5
3292.5%Revenue growth, 20255
14.5%Return on equity5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Collaboration Revenue Related Party brought in 70% of the revenue Spero Therapeutics, Inc. broke down this way in fiscal 2025.

  1. Collaboration Revenue Related Party$47.0M570%up 74% from 2024
  2. Collaboration Revenue$12.6M519%up 3292% from 2024
  3. Grant revenue$7.2M511%down 65% from 2024
Products and services by year
Products and services20242025
Collaboration Revenue Related Party$27.0M$47.0M
Collaboration Revenue$371.0K$12.6M
Grant revenue$20.6M$7.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development81¢$38.5M
  • Income tax1¢$261.0K
  • Profit18¢$8.6M

Out of $12.6M in revenue.5

Financial statements

Revenue6789105$12.6M in 2025+165% since 2019
0$5.0M$10.0M$15.0M2019: $4.7M$4.7M20192020: $258.0K$258.0K2020−95%2021: $3.1M$3.1M2021+1090%2022: $2.5M$2.5M2022−18%2023: $933.0K$933.0K2023−63%2024: $371.0K$371.0K2024−60%2025: $12.6M$12.6M2025+3292%
Operating income6789105$6.3M in 2025
-$100.0M-$50.0M0$50.0M2019: -$63.2M-$63.2M20192020: -$79.1M-$79.1M2020+25%2021: -$88.0M-$88.0M2021+11%2022: -$42.2M-$42.2M2022−52%2023: $21.5M$21.5M20232024: -$73.4M-$73.4M20242025: $6.3M$6.3M2025
Net income679105$8.6M in 2025
-$100.0M-$50.0M0$50.0M2019: -$60.9M-$60.9M20192020: -$78.3M-$78.3M2020+29%2021: -$89.8M-$89.8M2021+15%2022: -$46.4M-$46.4M2022−48%2023: $22.8M$22.8M20232024: -$68.6M-$68.6M20242025: $8.6M$8.6M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Grant revenue$7.2M$20.6M
Collaboration revenue - related party$47.0M$27.0M
Collaboration revenue$12.6M$371.0K
Total revenues$66.8M$48.0M
Research and development$38.5M$96.8M
General and administrative$21.2M$23.7M
Impairment of long-term asset$587.0K$0
Restructuring$258.0K$877.0K
Total operating expenses$60.5M$121.3M
Income (loss) from operations$6.3M-$73.4M
Interest income$2.5M$4.7M
Other income (expense), net$7.0K$60.0K
Total other income, net$2.5M$4.8M
Net income (loss) before income taxes$8.8M-$68.6M
Income tax expense-$261.0K$0
Net income (loss) and comprehensive income (loss)$8.6M-$68.6M
Net income (loss) per share attributable to common stockholders, basic$0.15-$1.27
Net income (loss) per share attributable to common stockholders, diluted$0.15-$1.27
Weighted average common shares outstanding, basic:56.0M shares54.0M shares
Weighted average common shares outstanding, diluted:59.0M shares54.0M shares

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Leadership

Who has led Spero Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Sath Shukla2023–now

President

  1. Sath Shukla2023–now

Chief financial officer

  1. Joel Sendek2017–2019
  2. Stephen J. Dipalma2019
  3. Sath Shukla2021–2023
  4. Esther Rajavelu2024–now

Chief operating officer

  1. Cristina Larkin2017–2022
  2. Timothy Keutzer2023–now
20202025
Board members and other officers (21)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorAnkit Mahadevia named Nov 15, 202240
  • Executive OfficerSatyavrat Shukla named Nov 15, 202240

Former names

  • Spero Therapeutics, LLCMar 21, 2017 to Mar 21, 20173

Timeline

  1. Aug 3, 2023New chief executive Sath Shukla becomes CEO13
  2. Dec 12, 2013Founded Spero Therapeutics, Inc. is founded2

Filings

243 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 61 major events, 112 insider forms, 15 large holders, 1 private raises, 34 other. The latest 20:

  1. Sep 10, 2026EFFECT EDGAR
  2. Aug 28, 20268-K EDGAR
  3. Aug 28, 2026S-3 EDGAR
  4. Aug 12, 20268-K EDGAR
  5. Aug 12, 202610-Q EDGAR
  6. Aug 6, 20264 EDGAR
  7. Aug 6, 20263 EDGAR
  8. Jul 14, 20268-K EDGAR
  9. Jun 25, 20264 EDGAR
  10. Jun 25, 20264 EDGAR
  11. Jun 25, 20264 EDGAR
  12. Jun 25, 20264 EDGAR
  13. Jun 25, 20264 EDGAR
  14. Jun 25, 20264 EDGAR
  15. Jun 25, 20264 EDGAR
  16. Jun 25, 20268-K EDGAR
  17. Jun 23, 2026S-8 EDGAR
  18. Jun 22, 20268-K EDGAR
  19. May 13, 202610-Q EDGAR
  20. May 13, 20268-K EDGAR

The 243 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

53 open-market trades by officers, directors and large owners since October 2021: 13 buys and 40 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 4, 2026Rajavelu EstherSee RemarksSale25,240$2.51$63.4KForm 4
Feb 6, 2026Rajavelu EstherSee RemarksSale87,917$2.36$207.5KForm 4
Feb 6, 2026Keutzer TimothyChief Operating OfficerSale18,652$2.36$44.0KForm 4
Feb 4, 2026Keutzer TimothyChief Operating OfficerSale3,471$2.24$7.8KForm 4
Feb 3, 2026Keutzer TimothyChief Operating OfficerSale24,224$2.14$51.8KForm 4
Feb 2, 2026Keutzer TimothyChief Operating OfficerSale18,891$2.20$41.6KForm 4
Feb 2, 2026Rajavelu EstherSee RemarksSale18,442$2.20$40.6KForm 4
Nov 7, 2025Rajavelu EstherSee RemarksSale40,270$2.37$95.4KForm 4
Aug 28, 2025Mahadevia AnkitDirectorSale6,572$1.97$12.9KForm 4
Aug 28, 2025Keutzer TimothyChief Operating OfficerSale1,695$1.97$3.3KForm 4
Feb 5, 2025Keutzer TimothyChief Operating OfficerSale56,537$0.78$44.1KForm 4
Feb 5, 2025Rajavelu EstherSee RemarksSale20,689$0.78$16.1KForm 4
Feb 5, 2025Shukla SathCEO & PresidentSale155,333$0.78$121.2KForm 4
Feb 5, 2025Mahadevia AnkitDirectorSale69,219$0.78$54.0KForm 4
Nov 8, 2024Rajavelu EstherSee RemarksSale17,245$1.30$22.4KForm 4
Nov 7, 2024Rajavelu EstherSee RemarksSale23,351$1.31$30.6KForm 4
Aug 27, 2024Mahadevia AnkitDirectorSale5,912$1.35$8.0KForm 4
Aug 27, 2024Keutzer TimothyChief Operating OfficerSale2,213$1.35$3.0KForm 4
Aug 27, 2024Shukla SathCEO & PresidentSale2,757$1.35$3.7KForm 4
Aug 5, 2024Shukla SathCEO & PresidentSale17,641$1.31$23.1KForm 4

All 53 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Nov 7, 2022Raised $9 million in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 60. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
GSK plc9,190,606$20.3M3.4%No change
Pfizer Inc2,362,348$5.3M3.1%No change
Vanguard Capital Management LLC2,036,226$4.5M0.0%+236,346
Renaissance Technologies LLC947,904$2.1M0.0%−241,331
Alphabet Inc.889,979$2.0M0.0%No change
Susquehanna International Group, Llp759,290$1.7M0.0%+426,175
BlackRock, Inc.594,404$1.3M0.0%+161,202
Geode Capital Management, LLC566,329$1.3M0.0%+46,407
Raymond James Financial Inc521,705$1.2M0.0%New
Two Sigma Investments, LP382,814$846.0K0.0%−502,817
Arrowstreet Capital, Limited Partnership332,970$735.9K0.0%New
Vanguard Fiduciary Trust Co287,648$635.7K0.0%+23,533
Dimensional Fund Advisors LP274,820$607.6K0.0%+245,052
Goldman Sachs Group Inc256,985$567.9K0.0%New
State Street Corp214,751$474.6K0.0%No change
Jane Street Group, LLC158,097$349.4K0.0%+51,752
UBS Group AG139,680$308.7K0.0%+136,671
Bridgeway Capital Management, LLC114,800$253.7K0.0%No change
Northern Trust Corp108,274$239.3K0.0%−12,710
Point72 Asset Management, L.P.104,377$230.7K0.0%+44,709
Ionic Capital Management LLC102,698$227.0K0.2%−93,241
Federation des caisses Desjardins du Quebec91,900$202.2K0.0%New
Shay Capital LLC72,391$160.0K0.0%+2,037
Invesco Ltd.64,245$142.0K0.0%+18,871
Simplex Trading, LLC61,312$135.5K0.0%+31,008

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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