Spero Therapeutics Dodges Investor Suit Over FDA Approval (1)

Spero Therapeutics Inc. investors can’t proceed with a proposed class action over the drugmaker’s optimistic statements about a clinical trial and the prospects for a treatment’s FDA approval, a federal court ruled.

The investors didn’t adequately allege the company and its top leaders acted with the necessary level of intent for securities fraud, the US District Court for the Eastern District of New York said Monday.

They’d sued Spero after the US Food and Drug Administration gave negative feedback in 2022 about tebipenem pivoxil hydrobromide, an anti-bacterial pill intended to treat complicated urinary tract infections.

Spero’s March 31, 2022, announcement ...