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Equity Financing / Related

Spero Therapeutics Announces $40 Mln Equity Investment From Pfizer And Licensing Agreement For SPR206

Published: 06/30/2021 22:59 GMT
Pfizer Inc. (PFE) - Spero Therapeutics Announces $40 Million Equity Investment From Pfizer Inc. and Licensing Agreement for Spr206.
Spero - Pfizer Purchased 2,362,348 Shares of Spero's Common Stock at $16.93 per Share, Pursuant to a Securities Purchase Agreement Between Parties.
Has Granted Pfizer Rights to Develop, Manufacture, and Commercialize Spr206 in Ex-u.s. and Ex-asia Territories.
Spero - in Exchange for the Rights, Spero is Eligible to Receive Up to $80 Million in Development and Sales Milestones.
Spero Therapeutics - Co Believes Net Proceeds From Newly Announced $40 Million Equity Investment Will Extend Its Cash Runway Into Second Half of 2022.