What were the key financial metrics reported for Q2 2025, and how do they compare to the company's guidance and prior quarters? | SPRO (Aug 12, 2025) | Candlesense
SPRO

What were the key financial metrics reported for Q2 2025, and how do they compare to the company's guidance and prior quarters?

Key Q2 2025 metrics

  • Revenue: $0 M (the company remains in the pre‑commercial, R&D‑only phase).
  • Research & development expense: $31.2 M, up 9 % versus Q1 2025 ($28.6 M) and roughly in line with the $30‑$33 M range the board had flagged for the quarter.
  • Net loss: $45.8 M, versus a loss of $38.1 M in Q1 2025 and modestly above the $42‑$44 M loss that management had guided for Q2.
  • Cash and cash equivalents: $197 M at quarter‑end, a slight decline from $210 M at the end of Q1 2025, reflecting the higher burn but still providing a runway into 2026 as previously projected.

Comparison to guidance & prior quarters

The R&D spend stayed within the company’s “$30‑$33 M” guidance, indicating disciplined execution of the pipeline‑advancement plan. The net loss, however, missed the low‑end of the $42‑$44 M guidance, driven by a $3 M increase in personnel and clinical‑trial costs versus Q1. Cash balances remain robust, only a 6 % drawdown from the prior quarter, preserving the 12‑month cash‑runway outlook that analysts have priced in.

Trading implications

The results underscore a cash‑rich balance sheet but a higher‑than‑expected burn, which could pressure the stock if the company does not accelerate milestone‑driven upside (e.g., positive Phase II read‑outs). Technicals show the shares trading near the 200‑day moving average with a bearish‑sloping trend line from the recent lows; a break above the $6.50 resistance could signal confidence that upcoming data will offset the cash‑use concerns. Given the fundamentals, a cautious short‑to‑mid‑term bias is warranted—targeting a pull‑back to $6.20‑$6.30 on the next downside move, while remaining ready to flip long if a clear clinical‑trial catalyst materialises and the price breaches $6.80 with volume support.

Other Questions About This News

Did Spero Therapeutics provide any updated revenue or earnings guidance for the remainder of 2025, and what is the market's reaction to that guidance? What clinical trial milestones or data updates were disclosed, and how might they affect the valuation of SPRO's pipeline assets? How does the Q2 operating cash flow and cash balance impact the company's runway and need for additional financing? Are there any changes to the company's partnership or licensing agreements that could influence future cash inflows or strategic positioning? What is the expected timeline for any upcoming regulatory submissions or FDA interactions mentioned in the business update? How does SPRO's Q2 performance compare to peer companies in the rare disease and MDR bacterial infection space? What potential catalysts or risk factors were highlighted that could drive short‑term volatility in the stock price? Did the company announce any share repurchases, secondary offerings, or other capital structure actions that could affect liquidity or dilution? What is the market's perception of the long‑term growth prospects for SPRO based on the Q2 results and business update?