SPRB Research | Milton Maxwell

SPRB

Spruce Biosciences, Inc.

78.00

-2.67-3.31%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

83.49M

P/E (TTM)

Basic EPS (TTM)

-84.32

Dividend Yield

Recent Filings

8-K

Terminates Japan tildacerfont deal

3/20/26Mar 20, 2026

Spruce Biosciences mutually terminated its Collaboration and License Agreement with Kaken Pharmaceutical, effective March 31, 2026, ending exclusive rights for tildacerfont in Japan CAH treatment after a program assessment. No penalties hit; future milestones and royalties vanish. Spruce pivots fully to TA-ERT.

10-K

FY2025 results

3/9/26Mar 9, 2026

Spruce Biosciences posted FY2025 results for the fiscal year ended December 31, 2025, with no revenue as a clinical-stage biopharma chasing approvals for TA-ERT in MPS IIIB; financial statements and quarterly breakdowns not included in the filing. The company advanced clinical data showing TA-ERT normalized CSF HS-NRE levels over five years in integrated studies. Cash burn persists. No products approved. Substantial doubt exists on going concern.

8-K

Hooks named CCO

3/9/26Mar 9, 2026

Spruce Biosciences appointed Corwin Dale Hooks as Chief Commercial Officer effective March 9, 2026, with $480,000 base salary and 11,000 RSU inducement grant vesting over four years. This bolsters commercial readiness ahead of TA-ERT BLA submission in Q4 2026, following positive FDA Type B meetings. New at-the-market sales pact with Jefferies replaces prior deal. Hired firepower for launch.

8-K

TA-ERT stabilizes MPS IIIB outcomes

2/5/26Feb 5, 2026

Spruce Biosciences presented long-term data at WORLDSymposium showing tralesinidase alfa (TA-ERT) normalized CSF HS-NRE and stabilized cognitive/motor skills in MPS IIIB patients over six years versus natural history decline. TA-ERT demonstrated consistent safety across ~6,000 doses. Company eyes BLA submission and potential FDA approval.

8-K

Secures $50M loan facility

1/8/26Jan 8, 2026

Spruce Biosciences inked a $50M loan deal with Avenue Capital on January 7, 2026, securing $15M upfront while tying further $35M to TA-ERT regulatory milestones for MPS IIIB. Cash hit $48.9M at year-end 2025, stretching runway into 2027 sans financial covenants. Loans mature July 1, 2029.

About

Spruce Biosciences, Inc. is a biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders. The company develops TA-ERT, a fusion protein comprised of recombinant human alpha-N-acetylglucosaminidase, which is an enzyme replacement therapy for patients with Sanfilippo Syndrome Type B. It also develops Tildacerfont for treating a highly debilitating mental disorder characterized by depressed mood with cognitive-affective and somatic changes, including anhedonia, weight alterations, and altered sleeping patterns. In addition, the company develops SPR202 for the treatment of Congenital Adrenal Hyperplasia (CAH), a chronic and potentially life-threatening rare disease with no cure, and SPR204, a monoclonal antibody antagonist for Post-Bariatric Hypoglycemia. The company has a license agreement with Eli Lilly and Company to research, develop, and commercialize various pharmaceutical compounds. It also has a collaboration and license agreement with Kaken Pharmaceutical Co. Ltd. to develop, manufacture, and commercialize Tildacerfont for the treatment of CAH in Japan. Spruce Biosciences, Inc. was incorporated in 2014 and is headquartered in South San Francisco, California.

CEO

Mr. Michael G. Grey

IPO

10/9/2020

Website

https://sprucebio.com

Employees

Sector

Healthcare

Industry

Biotechnology