SPRUCE BIOSCIENCES, INC. (SPRB)
Spruce Biosciences, Inc., founded in 2014 and situated in Daly City, California, operates as a biopharmaceutical enterprise. Its primary objective is to advance and bring to market innovative treatments, particularly for uncommon endocrine conditions. A central component of its therapeutic pipeline is tildacerfont, a non-steroidal drug candidate. This compound is currently undergoing Phase 2b clinical assessments in adult patients with congenital adrenal hyperplasia (CAH), with the aim of optimizing disease management and lessening dependence on steroid medications by examining reductions in glucocorticoid levels and their clinical consequences. Tildacerfont is also progressing through Phase 2 trials for pediatric classic CAH, as well as investigating its efficacy in women suffering from polycystic ovary syndrome (PCOS). Additionally, Spruce Biosciences maintains a collaborative licensing agreement with Eli Lilly and Company to jointly explore, formulate, and commercialize various pharmaceutical substances.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Spruce Biosciences, Inc.
NASDAQ:SPRBHealthcare · Biotechnology
-0.92%$46.39
AH$46.39+0.00%vs close
Mkt Cap$133.33M
Float2.67M
O/S2.87M
Vol
$ Vol
RVOL
Inst Own69.8%
SI19.6%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$38.97M
Total Assets$53.02M
Free Cash Flow-$33.33M
Debt & Equity
Debt 2%
Equity 98%
Total Debt$736K
Total Equity$42.52M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:75
Nasdaq bars a compliance period at 1:250
- 1:75Reverse splitAug 7, 202575 shares → 1
Balance Sheet Details
Assets$53.02M
Liabilities$10.51M
Accounts Receivable$0
Accounts Payable$943K
Inventory$0
PP&E (Net)$666K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $0 | $4.91M | $10.09M | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | -51.3% | - | - | - | - | - | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $12K | $1K |
| Gross Profit | $0 | $4.91M | $10.09M | $0 | $0 | $0 | -$12K | -$1K |
| Gross Margin | - | 100.0% | 100.0% | - | - | - | - | - |
| Research and Development | $19.52M | $46.42M | $49.43M | $35.2M | $30.7M | $23.85M | $10.82M | $8.4M |
| Selling, General, and Administrative | $16.99M | $14.64M | $12.65M | $12.09M | $11.37M | $5.56M | $2.29M | $1.57M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $84K | $0 |
| Total Operating Expenses | $36.51M | $61.06M | $62.08M | $47.28M | $42.07M | $29.42M | $13.11M | $9.97M |
| Operating Income (EBIT) | -$36.51M | -$56.15M | -$51.99M | -$47.28M | -$42.07M | -$29.42M | -$13.11M | -$9.97M |
| Operating Margin | - | -1143.4% | -515.3% | - | - | - | - | - |
| Interest Expense | $90K | $307K | $483K | $420K | $345K | $323K | $65K | $0 |
| Interest Income | $1.14M | $3.42M | $4.56M | $1.52M | $119K | $123K | $19K | $0 |
| Other Income (Expense) | -$2.45M | $3.12M | $4.07M | $1.1M | -$226K | -$123K | $19K | $114K |
| Income Before Tax (EBT) | -$38.97M | -$53.04M | -$47.92M | -$46.18M | -$42.29M | -$29.54M | -$13.09M | -$9.86M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$38.97M | -$53.04M | -$47.92M | -$46.18M | -$42.29M | -$29.54M | -$13.24M | -$9.86M |
| Net Income Margin | - | -1079.9% | -475.0% | - | - | - | - | - |
| Supplementary Data | ||||||||
| EPS | -50.83 | -96.75 | -93.00 | -72.00 | -68.25 | -48.75 | -22.50 | -483.75 |
| Diluted EPS | -50.83 | -96.75 | -93.00 | -72.00 | -68.25 | -48.75 | -22.50 | -483.75 |
| Weighted Average OS | 766,598 | 536,444 | 500,633 | 611,705 | 607,397 | 604,770 | 578,853 | 19,875 |
| EBITDA | -$38.85M | -$52.68M | -$47.37M | -$45.69M | -$41.88M | -$29.38M | -$13.01M | -$9.97M |
| EBITDA Margin | - | -1072.8% | -469.5% | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $48.91M | $38.75M | $96.34M | $24.49M | $42.75M | $157.15M | $3.92M | $4.11M |
| Short-Term Investments | $0 | $0 | $0 | $54.59M | $46.22M | $0 | $0 | $0 |
| Cash and Short-Term Investments | $48.91M | $38.75M | $96.34M | $79.08M | $88.97M | $157.15M | $3.92M | $4.11M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $2.85M | $2.28M | $1.97M | $1.21M | $396K | $276K | $513K | $250K |
| Total Current Assets | $52.11M | $44.21M | $102.18M | $83.61M | $91.89M | $160.4M | $4.65M | $4.77M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $666K | $934K | $1.18M | $1.4M | $1.48M | $1.87M | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $32.46M | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $243K | $69K | $582K | $640K | $653K | $620K | $40K | $2K |
| Total Long-Term Assets | $909K | $1M | $1.76M | $2.04M | $34.59M | $2.49M | $40K | $2K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $53.02M | $45.21M | $103.95M | $85.65M | $126.49M | $162.88M | $4.69M | $4.78M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $943K | $1.29M | $3.33M | $1.43M | $2.82M | $3.63M | $1.88M | $2.3M |
| Short-Term Debt | $0 | $1.62M | $1.62M | $1.62M | $0 | $2.55M | $1.25M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $4.91M | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $1.77M | $882K | $11.25M | $1.29M | $1.44M | $0 | $0 | $0 |
| Total Current Liabilities | $10.09M | $15.25M | $24.46M | $12.45M | $8.87M | $9.76M | $4.3M | $2.71M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $0 | $124K | $1.72M | $3.29M | $4.88M | $1.92M | $3.19M | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $282K | $236K | $161K | $73K | $118K | $27.83M | $19.87M |
| Total Long-Term Liabilities | $419K | $1.14M | $2.97M | $4.71M | $6.24M | $3.69M | $31.03M | $19.87M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $10.51M | $16.39M | $27.44M | $17.16M | $15.12M | $13.46M | $35.33M | $22.58M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $27.81M | $19.87M |
| Common Stock | $0 | $4K | $4K | $3K | $3K | $2K | $1K | $1K |
| Retained Earnings | -$289.23M | -$250.27M | -$197.23M | -$149.31M | -$103.13M | -$60.84M | -$31.3M | -$18.21M |
| Comprehensive Income & Other | $0 | $0 | $0 | -$558K | -$184K | -$0 | -$27.81M | -$0 |
| Other Stockholders' Equity | $331.75M | $279.08M | $273.74M | $217.8M | $214.5M | $210.27M | $664K | $411K |
| Total Equity | $42.52M | $28.82M | $76.51M | $68.49M | $111.37M | $149.43M | -$30.64M | -$17.8M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $53.02M | $45.21M | $103.95M | $85.65M | $126.49M | $162.88M | $4.69M | $4.78M |
| Supplementary Data | ||||||||
| Total Debt | $736K | $2.77M | $4.61M | $6.32M | $6.53M | $6.38M | $4.45M | $0 |
| Net Debt | -$48.17M | -$35.99M | -$91.73M | -$18.17M | -$36.22M | -$150.77M | $521K | -$4.11M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | -$38.97M | -$53.04M | -$47.92M | -$46.18M | -$42.29M | -$29.54M | -$13.09M | -$9.86M |
| Depreciation & Amortization | $21K | $46K | $70K | $74K | $68K | $36K | $12K | $1K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $2.57M | $5.35M | $4.62M | $3.63M | $3.96M | $755K | $196K | $101K |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$352K | -$2.04M | $1.91M | -$1.4M | -$805K | $3.73M | -$226K | $1.7M |
| Other Working Capital | -$372K | -$6.53M | $8.45M | $2.53M | $2.76M | -$2.57M | $489K | -$511K |
| Total Working Capital Change | -$724K | -$8.57M | $10.36M | $1.13M | $1.96M | $1.16M | $263K | $1.19M |
| Other Non-Cash Items | $3.77M | $249K | -$404K | -$340K | $434K | $66K | $0 | -$1.59M |
| Net Cash from Operating | -$33.33M | -$55.96M | -$33.27M | -$41.68M | -$35.88M | -$27.52M | -$12.62M | -$8.57M |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $0 | -$7K | -$8K | -$93K | -$74K | -$4K | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | -$11.88M | -$36.8M | -$79.08M | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $67.67M | $60.5M | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $55.78M | $23.69M | -$79.17M | -$74K | -$4K | $0 |
| Financing Activities | ||||||||
| Debt Repaid | $2.06M | $1.62M | $1.62M | - | -$220K | - | -$4.49M | - |
| Common Stock Issuance | $50M | $246K | $53.62M | -$201K | $462K | $93.35M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$4.53M | -$246K | -$2.85M | -$40K | -$39K | $51K | $0 | $0 |
| Net Cash from Financing | $43.48M | -$1.62M | $49.14M | -$241K | $643K | $181.03M | $12.43M | $0 |
| Forex Effect | $0 | $0 | $0 | $187K | $0 | $0 | $0 | $0 |
| Net Change in Cash | $10.15M | -$57.59M | $71.64M | -$18.05M | -$114.4M | $153.44M | -$188K | -$8.57M |
| Supplementary Data | ||||||||
| Operating Cash Flow | -$33.33M | -$55.96M | -$33.27M | -$41.68M | -$35.88M | -$27.52M | -$12.62M | -$8.57M |
| Capital Expenditure | $0 | $0 | -$7K | -$8K | -$93K | -$74K | -$4K | $0 |
| Free Cash Flow | -$33.33M | -$55.96M | -$33.28M | -$41.69M | -$35.97M | -$27.59M | -$12.62M | -$8.57M |
| Cash at Beginning | $38.79M | $96.34M | $24.73M | $42.75M | $157.37M | $3.92M | $4.11M | $12.68M |
| Cash at End | $48.94M | $38.75M | $96.37M | $24.7M | $42.96M | $157.37M | $3.92M | $4.11M |