Spero Therapeutics has purchased an asset from Innovent Biologics, a Chinese biotech/pharma that has relationships already with Pfizer and Lilly among others. To do this, they monetized future royalty payments from GSK on their Tebipenem Hbr asset.
Stock is down today based on this change in direction/focus. Spero monetized the royalty payments due on the antibiotic, but it looks like they will still receive milestone payments from GSK totalling up to $326 million?
Looks like they potentially have enough money on hand and coming in to run Phase 2 and Phase 3 trials on this asset with no dilution or debt? Potential payout from GSK buyout looks to be dead, unless GSK is looking at this asset with Spero doing the development? Doubtful on that one I think.
This is the article that tells a little about the deal.
[https://www.fiercebiotech.com/biotech/spero-shifts-focus-ii-11b-biobucks-antibody-licensing-deal-innovent-and-105m-raise](https://www.fiercebiotech.com/biotech/spero-shifts-focus-ii-11b-biobucks-antibody-licensing-deal-innovent-and-105m-raise)
Just an investor, no insider information, do your own due diligence if you are looking to purchase this stock
