Spero Therapeutics (SPRO) said late Tuesday it will suspend its development program for SPR720 as a potential treatment for nontuberculous mycobacterial pulmonary disease after a phase 2a trial failed to achieve its primary endpoint.
Data from the trial did not show sufficient separation from placebo, while highlighting potential safety issues in some subjects, the company said.
As a result of the suspension, the company plans to cut its workforce by about 39% and restructure its operations in order to extend the company's cash runway into mid-2026.
Shares of Spero Therapeutics were down nearly 24% in premarket activity Wednesday.
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