{"filing":{"accession_number":"0001193125-26-302473","cik":"0001701108","ticker":"SPRO","company_name":"Spero Therapeutics, Inc.","form":"8-K","filing_date":"2026-07-14","report_date":null,"primary_document":"d320658d8k.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1701108/000119312526302473/d320658d8k.htm"},"events":[{"id":17719,"run_id":15886,"accession_number":"0001193125-26-302473","anchor_item_number":"1.01","event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.92,"summary":"Spero entered into an exclusive license agreement with Innovent Biologics on July 8, 2026, acquiring worldwide rights (excluding Greater China) to develop, manufacture, and commercialize SP001, a Phase 2-ready anti-CD40L monoclonal antibody. The transaction includes an upfront payment of $35 million, up to $1.05 billion in milestone payments, and tiered royalties, establishing the foundation of Spero's new immunology pipeline.","company_name":"Spero Therapeutics, Inc.","ticker":"SPRO","filing_date":"2026-07-14","form":"8-K","submitted_at":null,"items":[{"id":16293,"accession_number":"0001193125-26-302473","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.92,"reasoning":"Spero entered into an exclusive license agreement with Innovent Biologics on July 8, 2026, granting Spero worldwide rights (excluding Greater China) to develop, manufacture, and commercialize SP001, a Phase 2-ready anti-CD40L monoclonal antibody. The agreement involves an upfront payment of $35 million, up to $1.05 billion in milestone payments, and tiered royalties on net sales. This constitutes a material acquisition of intellectual property and development rights that establishes the foundation of Spero's new immunology pipeline, as explicitly stated by the CEO.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"","ticker":null,"filing_date":""},{"id":16295,"accession_number":"0001193125-26-302473","item_number":"7.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.85,"reasoning":"The filing discloses entry into an exclusive license agreement with Innovent Biologics for SP001 (IBI355), a Phase 2-ready anti-CD40L antibody, with Spero receiving global rights excluding Greater China. The deal structure includes an upfront payment and up to approximately $1.1 billion in development, regulatory, and commercial milestones plus tiered royalties. This constitutes a material acquisition of intellectual property and development rights that establishes the foundation of Spero's new immunology pipeline, as stated by the CEO. While technically a licensing transaction rather than a traditional M\u0026A, it represents a material strategic transaction involving acquisition of substantial asset rights.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"","ticker":null,"filing_date":""},{"id":16296,"accession_number":"0001193125-26-302473","item_number":"8.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.85,"reasoning":"The Item 8.01 disclosure centers on two material transactions: (1) an exclusive license agreement with Innovent Biologics for SP001 (IBI355), a Phase 2-ready anti-CD40L antibody, with total deal value of approximately $1.1 billion in upfront, milestone, and royalty payments; and (2) a $105 million non-recourse royalty financing transaction with Healthcare Royalty (KKR affiliate) backed by Utebzi milestones and royalties. The license agreement constitutes a material acquisition of intellectual property and development rights, while the royalty financing is a capital transaction supporting the company's strategic pivot to immunology. Both transactions are transformative to Spero's pipeline and financial position.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"","ticker":null,"filing_date":""}]},{"id":17720,"run_id":15886,"accession_number":"0001193125-26-302473","anchor_item_number":"2.03","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.92,"summary":"Spero entered into a $105 million non-recourse royalty financing transaction with Healthcare Royalty (a KKR affiliate), receiving $105 million in exchange for rights to future milestone and royalty payments from Utebzi sales, with Healthcare Royalty receiving quarterly principal and interest payments derived from GSK payments.","company_name":"Spero Therapeutics, Inc.","ticker":"SPRO","filing_date":"2026-07-14","form":"8-K","submitted_at":null,"items":[{"id":16294,"accession_number":"0001193125-26-302473","item_number":"2.03","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.92,"reasoning":"Item 2.03 discloses the creation of a direct financial obligation through a $105 million non-recourse royalty financing transaction with Healthcare Royalty (KKR affiliate). Under the agreement, Spero receives $105 million in exchange for rights to future milestone and royalty payments from Utebzi sales, with HCRx receiving quarterly principal and interest payments derived from GSK payments. This constitutes a new direct financial obligation—a debt-like instrument secured by future royalty streams—which is the core purpose of Item 2.03 disclosures.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"","ticker":null,"filing_date":""},{"id":16296,"accession_number":"0001193125-26-302473","item_number":"8.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.85,"reasoning":"The Item 8.01 disclosure centers on two material transactions: (1) an exclusive license agreement with Innovent Biologics for SP001 (IBI355), a Phase 2-ready anti-CD40L antibody, with total deal value of approximately $1.1 billion in upfront, milestone, and royalty payments; and (2) a $105 million non-recourse royalty financing transaction with Healthcare Royalty (KKR affiliate) backed by Utebzi milestones and royalties. The license agreement constitutes a material acquisition of intellectual property and development rights, while the royalty financing is a capital transaction supporting the company's strategic pivot to immunology. Both transactions are transformative to Spero's pipeline and financial position.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":16293,"accession_number":"0001193125-26-302473","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.92,"reasoning":"Spero entered into an exclusive license agreement with Innovent Biologics on July 8, 2026, granting Spero worldwide rights (excluding Greater China) to develop, manufacture, and commercialize SP001, a Phase 2-ready anti-CD40L monoclonal antibody. The agreement involves an upfront payment of $35 million, up to $1.05 billion in milestone payments, and tiered royalties on net sales. This constitutes a material acquisition of intellectual property and development rights that establishes the foundation of Spero's new immunology pipeline, as explicitly stated by the CEO.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"Spero Therapeutics, Inc.","ticker":"SPRO","filing_date":"2026-07-14"},{"id":16294,"accession_number":"0001193125-26-302473","item_number":"2.03","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.92,"reasoning":"Item 2.03 discloses the creation of a direct financial obligation through a $105 million non-recourse royalty financing transaction with Healthcare Royalty (KKR affiliate). Under the agreement, Spero receives $105 million in exchange for rights to future milestone and royalty payments from Utebzi sales, with HCRx receiving quarterly principal and interest payments derived from GSK payments. This constitutes a new direct financial obligation—a debt-like instrument secured by future royalty streams—which is the core purpose of Item 2.03 disclosures.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"Spero Therapeutics, Inc.","ticker":"SPRO","filing_date":"2026-07-14"},{"id":16295,"accession_number":"0001193125-26-302473","item_number":"7.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.85,"reasoning":"The filing discloses entry into an exclusive license agreement with Innovent Biologics for SP001 (IBI355), a Phase 2-ready anti-CD40L antibody, with Spero receiving global rights excluding Greater China. The deal structure includes an upfront payment and up to approximately $1.1 billion in development, regulatory, and commercial milestones plus tiered royalties. This constitutes a material acquisition of intellectual property and development rights that establishes the foundation of Spero's new immunology pipeline, as stated by the CEO. While technically a licensing transaction rather than a traditional M\u0026A, it represents a material strategic transaction involving acquisition of substantial asset rights.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"Spero Therapeutics, Inc.","ticker":"SPRO","filing_date":"2026-07-14"},{"id":16296,"accession_number":"0001193125-26-302473","item_number":"8.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.85,"reasoning":"The Item 8.01 disclosure centers on two material transactions: (1) an exclusive license agreement with Innovent Biologics for SP001 (IBI355), a Phase 2-ready anti-CD40L antibody, with total deal value of approximately $1.1 billion in upfront, milestone, and royalty payments; and (2) a $105 million non-recourse royalty financing transaction with Healthcare Royalty (KKR affiliate) backed by Utebzi milestones and royalties. The license agreement constitutes a material acquisition of intellectual property and development rights, while the royalty financing is a capital transaction supporting the company's strategic pivot to immunology. Both transactions are transformative to Spero's pipeline and financial position.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T10:31:54.066495+00:00","company_name":"Spero Therapeutics, Inc.","ticker":"SPRO","filing_date":"2026-07-14"}]}