Micro Cap Up Over +100% In Premarket

Micro Cap Up Over +100% In Premarket

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, September 22, 2022

A Massachusetts-based biotech firm is grabbing the attention of traders across the board during Thursday’s premarket after it was announced that the company has entered into an exclusive license agreement with GSK (NYSE:GSK) for the company’s late-stage antibiotic asset, tebipenem HBr. According to the release, “tebipenem HBr is being developed as the first oral carbapenem antibiotic for the treatment of complicated urinary tract infections (cUTI), including pyelonephritis, caused by certain bacteria.” This sent shares of Spero Therapeutics Inc. (Nasdaq:SPRO) soaring before the bell.

Spero Therapeutics Inc is a clinical-stage biopharmaceutical firm. It focuses on identifying, developing and commercializing novel treatments for MDR (Multi-drug-resistant) bacterial infections and rare diseases. The company's product candidate, tebipenem pivoxil hydrobromide or tebipenem HBr, is designed to be an oral carbapenem-class antibiotic for use in adults to treat MDR Gram-negative infections. It is also developing SPR720, a novel oral antibiotic designed for the treatment of a rare, orphan disease caused by pulmonary non-tuberculous mycobacterial infections, or NTM disease. Besides, it is also focused on SPR206, a next-generation polymyxin investigational product candidate, being developed as an IV-administered medicine to treat MDR Gram-negative infections in the hospital.

Traders are apparently extremely optimistic after the announcement seeing that shares are currently bid up at $2.08/share (+153.13% implied open for sellers) at the time of writing. This should be an exciting session for this micro cap!

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