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Spero secures $10M capital raise

Jun. 13, 2019 8:11 AM ETSpero Therapeutics, Inc. (SPRO) StockBy: Douglas W. House, SA News Editor
  • Spero Therapeutics (NASDAQ:SPRO) has agreed to sell $10M of its common stock to Novo Holdings A/S in a direct transaction.
  • It will sell the stock in two tranches, ~466K shares at $10.73 (expected to close by tomorrow, June 14) for gross proceeds of $5M and $5M triggered by the earlier of Spero's announcement of pharmacokinetic data from the lead-in cohort in its Phase 3 study of SPR994 or June 30, 2020.
  • Net proceeds will fund its SPR720 program.
  • Yesterday's close was $10.61.

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