Spero Therapeutics (SPRO) soars 244.57% on positive trial results

Spero Therapeutics (SPRO) shares soared 244.57% today, reaching their highest level since September 2022, with an intraday gain of 264.71%.

The strategy of buying SPRO shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 7.56% annualized return and a 37.12% overall return. However, the strategy underperformed the market, as evidenced by the 14.56% annualized return and 64.89% overall return of the SPY ETF over the same period. The results suggest that while the strategy captured some of the subsequent momentum, it did not keep pace with broader market performance.

Spero Therapeutics and GSK have decided to halt a late-stage trial of an experimental oral drug for complicated urinary tract infections due to positive results. The decision to stop the trial early for efficacy was based on the recommendation of an independent data monitoring committee after reviewing interim data from 1,690 patients. This development has had a significant impact on the company's stock price.

Spero Therapeutics' stock surged following the positive results from the pivotal Phase 3 PIVOT-PO study of tebipenem HBr in complicated urinary tract infections. The study met its primary endpoint of non-inferiority compared to intravenous imipenem-cilastatin in hospitalized adult patients, which has boosted investor confidence in the company's prospects.

Spero Therapeutics’ stock has been trading up significantly following FDA designations and promising results, which have further enhanced investor confidence in the company's future performance.