Company Quick10K Filing
Spero Therapeutics
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 19 $230
10-Q 2019-11-04 Quarter: 2019-09-30
10-Q 2019-08-08 Quarter: 2019-06-30
10-Q 2019-05-09 Quarter: 2019-03-31
10-K 2019-03-14 Annual: 2018-12-31
10-Q 2018-11-08 Quarter: 2018-09-30
S-1 2018-07-09 Public Filing
10-Q 2018-08-09 Quarter: 2018-06-30
10-Q 2018-05-10 Quarter: 2018-03-31
10-K 2018-04-02 Annual: 2017-12-31
10-Q 2017-12-14 Quarter: 2017-09-30
8-K 2019-12-16 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-12-05 Regulation FD, Exhibits
8-K 2019-11-04 Earnings, Exhibits
8-K 2019-10-03 Regulation FD, Exhibits
8-K 2019-09-04 Officers
8-K 2019-08-08 Earnings, Exhibits
8-K 2019-06-12 Enter Agreement, Exhibits
8-K 2019-06-05 Shareholder Vote
8-K 2019-05-09 Earnings, Exhibits
8-K 2019-04-18 Officers
8-K 2019-03-19 Officers, Exhibits
8-K 2019-03-14 Earnings, Exhibits
8-K 2019-01-04 Enter Agreement, Other Events, Exhibits
8-K 2018-11-15 Enter Agreement, Sale of Shares, Shareholder Rights, Amend Bylaw, Exhibits
8-K 2018-11-13 Regulation FD, Other Events, Exhibits
8-K 2018-11-08 Earnings, Exhibits
8-K 2018-09-27 Regulation FD, Exhibits
8-K 2018-08-14 Officers, Exhibits
8-K 2018-08-09 Earnings, Exhibits
8-K 2018-07-17 Amend Bylaw, Exhibits
8-K 2018-07-16 Other Events, Exhibits
8-K 2018-07-09 Regulation FD, Exhibits
8-K 2018-07-09 Earnings, Other Events, Exhibits
8-K 2018-06-05 Shareholder Vote
8-K 2018-05-10 Earnings, Exhibits
8-K 2018-04-02 Earnings, Exhibits
8-K 2018-02-01 Officers, Exhibits
8-K 2018-01-17 Enter Agreement, Off-BS Arrangement, Exhibits
SPRO 2019-09-30
Part I-Financial Information
Item 1. Financial Statements.
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
Item 4. Controls and Procedures.
Part Ii-Other Information
Item 1A. Risk Factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 5. Other Information.
Item 6.Exhibits
EX-31.1 spro-ex311_9.htm
EX-31.2 spro-ex312_10.htm
EX-32.1 spro-ex321_8.htm
EX-32.2 spro-ex322_6.htm

Spero Therapeutics Earnings 2019-09-30

SPRO 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
CYAD 238 94 0 0 0 0 197 0%
CHMA 237 61 10 0 0 -32 -32 216 -6.7 -53%
UROV 235 76 29 0 0 -109 -108 186 -1.7 -142%
ABEO 234 159 52 -0 0 -76 -71 172 -0% -2.4 -48%
LCI 231 1,187 853 655 244 -572 -439 860 37% -2.0 -48%
SPRO 230 122 13 12 0 -39 -39 159 0% -4.1 -32%
GALT 227 53 1 0 0 -11 -11 175 -16.0 -21%
ATHX 225 53 20 10 0 -47 -47 180 0% -3.8 -88%
ENOB 222 180 7 0 0 -18 -18 210 -11.7 -10%
REPH 221 162 181 92 43 -59 -15 316 47% -21.2 -37%

10-Q 1 spro-10q_20190930.htm 10-Q spro-10q_20190930.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2019

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from                   to                     

Commission File Number: 001-38266

 

SPERO THERAPEUTICS, INC.

(Exact name of registrant as specified in its charter)

 

 

Delaware

46-4590683

 

 

( State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

 

 

675 Massachusetts Avenue, 14th  Floor

Cambridge, Massachusetts

02139

 

 

(Address of principal executive offices)

(Zip Code)

 

(857) 242-1600

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value per share

SPRO

The Nasdaq Global Select Market

 

 

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES  NO 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YES  NO 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

 

Accelerated filer

Non-accelerated filer

 

☐  

 

Smaller reporting company

 

 

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    YES     NO 

As of October 31, 2019, the registrant had 19,128,146 shares of common stock, $0.001 par value per share, outstanding.

 

 

 

 

 

 


Forward-Looking STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements that involve risks and uncertainties. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue” or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements about:

 

the initiation, timing, design, progress and results of, including interim data from, our preclinical studies and clinical trials, and our research and development programs;

 

our ability to retain the continued service of our key professionals and to identify, hire and retain additional qualified professionals;

 

our ability to advance product candidates into, and successfully complete, clinical trials;

 

the timing or likelihood of regulatory filings and approvals;

 

the commercialization of our product candidates, if approved;

 

the pricing, coverage and reimbursement of our product candidates, if approved;

 

the implementation of our business model and strategic plans for our business and product candidates and our Potentiator Platform;

 

the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates and our Potentiator Platform;

 

our ability to enter into strategic arrangements and/or collaborations and the potential benefits of such arrangements;

 

our estimates regarding expenses, capital requirements and needs for additional financing;

 

our financial performance;

 

developments relating to our competitors and our industry; and

 

other risks and uncertainties, including those listed under Part II, Item 1A. “Risk Factors”.

Any forward-looking statements in this Quarterly Report on Form 10-Q reflect our current views with respect to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under Part II, Item 1A. “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

This Quarterly Report on Form 10-Q also contains estimates, projections and other information concerning our industry, our business, and the markets for certain diseases, including data regarding the estimated size of those markets, and the incidence and prevalence of certain medical conditions. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information. Unless otherwise expressly stated, we obtained this industry, business, market and other data from reports, research surveys, studies and similar data prepared by market research firms and other third parties, industry, medical and general publications, government data and similar sources.

 

 

i


Spero Therapeutics, Inc.

Table of Contents

 

 

 

 

Page

 

 

PART I – FINANCIAL INFORMATION

 

Item 1.

 

Financial Statements (Unaudited)

3

 

 

Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018

3

 

 

Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2019 and 2018

4

 

 

Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018

5

 

 

Condensed Consolidated Statements of Stockholders’ Equity for the nine months ended September 30, 2019 and 2018  

6

 

 

Notes to Unaudited Condensed Consolidated Financial Statements

8

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

26

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

40

Item 4.

 

Controls and Procedures

40

 

 

 

 

 

 

PART II – OTHER INFORMATION

 

Item 1A.

 

Risk Factors

41

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds

76

Item 5.

 

Other Information

76

Item 6.

 

Exhibits

76

 

 

 

 

Signatures

78

 

 

 

ii


PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

SPERO THERAPEUTICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

(Unaudited)

 

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

45,597

 

 

$

34,080

 

Marketable securities

 

 

48,259

 

 

 

81,363

 

Other receivables

 

 

5,013

 

 

 

376

 

Tax incentive receivable, current

 

 

1,425

 

 

 

922

 

Prepaid expenses and other current assets

 

 

3,676

 

 

 

7,478

 

Total current assets

 

 

103,970

 

 

 

124,219

 

Property and equipment, net

 

 

2,519

 

 

 

2,893

 

Tax incentive receivable

 

 

 

 

 

233

 

Operating lease right of use assets

 

 

3,944

 

 

 

 

Other assets

 

 

2,077

 

 

 

1,661

 

Total assets

 

$

112,510

 

 

$

129,006

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

2,524

 

 

$

3,603

 

Accrued expenses and other current liabilities

 

 

11,869

 

 

 

8,263

 

Derivative liabilities

 

 

223

 

 

 

223

 

Deferred rent

 

 

 

 

 

229

 

Operating lease liabilities

 

 

442

 

 

 

 

Total current liabilities

 

 

15,058

 

 

 

12,318

 

Deferred rent, net of current portion

 

 

 

 

 

833

 

Non-current operating lease liabilities

 

 

4,162

 

 

 

 

Other long-term liabilities

 

 

256

 

 

 

 

Total liabilities

 

 

19,476

 

 

 

13,151

 

Commitments and contingencies (Note 9)

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

 

 

Preferred stock, $0.001 par value; 10,000,000 shares authorized, 2,720 shares issued and outstanding as of September 30, 2019 and 3,220 shares issued and outstanding as of December 31, 2018

 

 

 

 

 

 

Common stock, $0.001 par value; 60,000,000 shares authorized as of September 30, 2019 and December 31, 2018;18,663,030 shares issued and outstanding as of September 30, 2019 and 17,205,962 shares issued and outstanding as of December 31, 2018

 

 

19

 

 

 

17

 

Additional paid-in capital

 

 

267,083

 

 

 

254,013

 

Accumulated deficit

 

 

(174,441

)

 

 

(138,502

)

Accumulated other comprehensive gain (loss)

 

 

18

 

 

 

(28

)

Total Spero Therapeutics, Inc. stockholders' equity

 

 

92,679

 

 

 

115,500

 

Non-controlling interests

 

 

355

 

 

 

355

 

Total stockholders' equity

 

 

93,034

 

 

 

115,855

 

Total liabilities and stockholders' equity

 

$

112,510

 

 

$

129,006

 

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

3


SPERO THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share data)

(Unaudited)

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grant revenue

 

$

4,471

 

 

$

658

 

 

$

10,471

 

 

$

2,274

 

Collaboration revenue

 

 

172

 

 

 

 

 

 

4,046

 

 

 

 

Total revenues

 

 

4,643

 

 

 

658

 

 

 

14,517

 

 

 

2,274

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

18,495

 

 

 

8,459

 

 

 

40,047

 

 

 

24,758

 

General and administrative

 

 

4,133

 

 

 

3,134

 

 

 

11,803

 

 

 

9,238

 

Total operating expenses

 

 

22,628

 

 

 

11,593

 

 

 

51,850

 

 

 

33,996

 

Loss from operations

 

 

(17,985

)

 

 

(10,935

)

 

 

(37,333

)

 

 

(31,722

)

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income and other income (expense), net

 

 

268

 

 

 

472

 

 

 

1,394

 

 

 

659

 

Total other income (expense), net

 

 

268

 

 

 

472

 

 

 

1,394

 

 

 

659

 

Net loss

 

$

(17,717

)

 

$

(10,463

)

 

$

(35,939

)

 

$

(31,063

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share attributable to common stockholders, basic and diluted

 

$

(0.95

)

 

$

(0.60

)

 

$

(2.01

)

 

$

(2.01

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding, basic and diluted:

 

 

18,659,079

 

 

 

17,471,462

 

 

 

17,859,829

 

 

 

15,417,087

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

(17,717

)

 

 

(10,463

)

 

 

(35,939

)

 

 

(31,063

)

Other comprehensive gain (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on marketable securities

 

 

12

 

 

 

(8

)

 

 

40

 

 

 

(23

)

Reclassification adjustment for gains included in net loss

 

 

 

 

 

 

 

 

6

 

 

 

 

Net unrealized gains (losses) on securities

 

 

12

 

 

 

(8

)

 

 

46

 

 

 

(23

)

Total comprehensive loss

 

$

(17,705

)

 

$

(10,471

)

 

$

(35,893

)

 

$

(31,086

)

The accompanying notes are an integral part of these condensed consolidated financial statements.

4


SPERO THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(35,939

)

 

$

(31,063

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

861

 

 

 

270

 

Loss on disposal of fixed assets

 

 

 

 

 

248

 

Share-based compensation

 

 

2,847

 

 

 

1,980

 

Realized (gain) loss on investments

 

 

(1

)

 

 

 

Unrealized foreign currency transaction (gain) loss

 

 

164

 

 

 

237

 

Accretion of discount on marketable securities

 

 

(663

)

 

 

(346

)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Other receivables

 

 

(4,637

)

 

 

679

 

Prepaid expenses and other current assets

 

 

3,802

 

 

 

706

 

Tax incentive receivables

 

 

(319

)

 

 

980

 

Other assets

 

 

(432

)

 

 

 

Accounts payable

 

 

(1,041

)

 

 

(2,088

)

Accrued expenses and other current liabilities

 

 

2,749

 

 

 

2,372

 

Deferred rent

 

 

 

 

 

(91

)

Other long-term liabilities

 

 

(44

)

 

 

 

Net cash used in operating activities

 

 

(32,653

)

 

 

(26,116

)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchases of marketable securities

 

 

(76,523

)

 

 

(104,421

)

Proceeds from maturities of marketable securities

 

 

110,337

 

 

 

14,000

 

Purchases of property and equipment

 

 

(185

)

 

 

(22

)

Net cash provided by (used in) investing activities

 

 

33,629

 

 

 

(90,443

)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Proceeds from the issuance of common stock, net of commissions

 

 

10,289

 

 

 

70,500

 

Payment of offering costs

 

 

(158

)

 

 

(996

)

Proceeds from stock option exercises

 

 

410

 

 

 

197

 

Net cash provided by financing activities

 

 

10,541

 

 

 

69,701

 

Net increase (decrease) in cash and cash equivalents

 

 

11,517

 

 

 

(46,858

)

Cash, cash equivalents and restricted cash at beginning of period

 

 

34,080

 

 

 

87,338

 

Cash, cash equivalents and restricted cash at end of period

 

$

45,597

 

 

$

40,480

 

 

 

 

 

 

 

 

 

 

Supplemental disclosure of non-cash investing and financing activities:

 

 

 

 

 

 

 

 

Offering costs included in accounts payable and accrued expenses

 

$

 

 

$

246

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

5


 

SPERO THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands, except share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Series A and B

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

Spero

 

 

 

 

 

 

 

 

 

 

 

Convertible

 

 

 

 

 

Additional

 

 

 

 

 

 

Comprehensive

 

 

Therapeutics, Inc.

 

 

Non-

 

 

Total

 

 

 

Preferred Stock

 

 

Common Stock

 

 

Paid-in

 

 

Accumulated

 

 

Income

 

 

Stockholders'

 

 

controlling

 

 

Stockholders'

 

 

 

Shares

 

 

Par Value

 

 

Shares

 

 

Par Value

 

 

Capital

 

 

Deficit

 

 

(Loss)

 

 

Equity

 

 

Interests

 

 

Equity

 

Balances at June 30, 2019

 

 

2,720

 

 

$

 

 

 

18,650,375

 

 

$

19

 

 

$

266,013

 

 

$

(156,724

)

 

$

6

 

 

$

109,314

 

 

$

355

 

 

$

109,669

 

Issuance of common stock upon the exercise of stock options

 

 

 

 

 

 

 

 

8,704

 

 

 

 

 

 

51

 

 

 

 

 

 

 

 

 

51

 

 

 

 

 

 

51

 

Issuance of common stock, net of issuance costs

 

 

 

 

 

 

 

 

3,951

 

 

 

 

 

 

38

 

 

 

 

 

 

 

 

 

38

 

 

 

 

 

 

38

 

Share-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

981

 

 

 

 

 

 

 

 

 

981

 

 

 

 

 

 

981

 

Unrealized gain on available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12

 

 

 

12

 

 

 

 

 

 

12

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(17,717

)

 

 

 

 

 

(17,717

)

 

 

 

 

 

(17,717

)

Balances at September 30, 2019

 

 

2,720

 

 

$

 

 

 

18,663,030

 

 

$

19

 

 

$

267,083

 

 

$

(174,441

)

 

$

18

 

 

$

92,679

 

 

$

355

 

 

$

93,034

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Series A and B

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

Spero

 

 

 

 

 

 

 

 

 

 

 

Convertible

 

 

 

 

 

Additional

 

 

 

 

 

 

Comprehensive

 

 

Therapeutics, Inc.

 

 

Non-

 

 

Total

 

 

 

Preferred Stock

 

 

Common Stock

 

 

Paid-in

 

 

Accumulated

 

 

Income

 

 

Stockholders'

 

 

controlling

 

 

Stockholders'

 

 

 

Shares

 

 

Par Value

 

 

Shares

 

 

Par Value

 

 

Capital

 

 

Deficit

 

 

(Loss)

 

 

Equity

 

 

Interests

 

 

Equity

 

Balances at December 31, 2018

 

 

3,220

 

 

$

 

 

 

17,205,962

 

 

$

17

 

 

$

254,013

 

 

$

(138,502

)

 

$

(28

)

 

$

115,500

 

 

$

355

 

 

$

115,855

 

Issuance of common stock upon the exercise of stock options

 

 

 

 

 

 

 

 

62,072

 

 

 

 

 

 

410

 

 

 

 

 

 

 

 

 

410

 

 

 

 

 

 

410

 

Issuance of common stock, net of issuance costs

 

 

 

 

 

 

 

 

894,996

 

 

 

1

 

 

 

9,814

 

 

 

 

 

 

 

 

 

9,815

 

 

 

 

 

 

9,815

 

Conversion of convertible preferred stock to common stock

 

 

(500

)

 

 

 

 

 

500,000

 

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,847

 

 

 

 

 

 

 

 

 

2,847

 

 

 

 

 

 

2,847

 

Unrealized gain on available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

46

 

 

 

46

 

 

 

 

 

 

46

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(35,939

)

 

 

 

 

 

(35,939

)

 

 

 

 

 

(35,939

)

Balances at September 30, 2019

 

 

2,720

 

 

$

 

 

 

18,663,030

 

 

$

19

 

 

$

267,083

 

 

$

(174,441

)

 

$

18

 

 

$

92,679

 

 

$

355

 

 

$

93,034

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Series A and B

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

Spero

 

 

 

 

 

 

 

 

 

 

 

Convertible

 

 

 

 

 

Additional

 

 

 

 

 

 

Comprehensive

 

 

Therapeutics, Inc.

 

 

Non-

 

 

Total

 

 

 

Preferred Stock

 

 

Common Stock

 

 

Paid-in

 

 

Accumulated

 

 

Income

 

 

Stockholders'

 

 

controlling

 

 

Stockholders'

 

 

 

Shares

 

 

Par Value

 

 

Shares

 

 

Par Value

 

 

Capital