Spero Therapeutics Inc Reports Second Quarter 2024 Financial Results
Intellectia.AI2024-08-06
Spero Therapeutics, Inc. Reports Second Quarter 2024 Financial Results
Spero Therapeutics, Inc. has reported its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
The following table summarizes the key financial metrics for Spero Therapeutics, Inc.:
| Metric | Q2 2024 Actual | Q1 2024 Actual | Q2 2023 Actual | YoY Change Q2 | QoQ Change Q2 | Consensus Estimate Q2 |
|---|---|---|---|---|---|---|
| Total Revenue | $10.1M | $3.4M | $2.3M | +339.13% | +197.06% | $3.27M |
| Earnings Per Share (EPS) | $-0.32 | $-0.38 | $-0.28 | -14.29% | +15.79% | $-0.38 |
Interpretation : - Revenue : The company reported a significant increase in total revenue for Q2 2024 compared to both Q1 2024 and Q2 2023. The quarterly revenue also exceeded the consensus estimate of $3.27 million. - EPS : The earnings per share (EPS) is negative, indicating a loss, but it is slightly better than the expected EPS of $-0.38 and has shown improvement from Q1 2024.
Revenue Performance Across Major Segments
The following table shows the breakdown of revenue performance by major segments:
| Segment | Q2 2024 Revenue |
|---|---|
| Collaboration | $7.1M |
| Grant Revenue | $3.0M |
Interpretation : - Collaboration Revenue : Significant contribution to the total revenue primarily from collaboration agreements. - Grant Revenue : Additional financial support through grant revenue.
Summary of Comments from Company’s Officers
- The Chief Executive Officer, Satyavrat Shukla, stated, "We are pleased with our performance this quarter, reflecting our ongoing efforts in fortifying partnerships and advancing our clinical trials."
Dividends or Share Repo Program
- The earnings report did not mention any announced dividends or share repurchase programs.
Forward Guidance
No forward guidance was provided in the earnings release.
Stock Price Movement
- After the event, the company’s stock price increased by 2.29%.
Overall, Spero Therapeutics, Inc.’s financial results for the second quarter of 2024 indicate strong revenue performance primarily driven by collaboration initiatives, with a positive response in the stock market following the announcement.
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