SPRUCE BIOSCIENCES, INC.

Listed Company

SPRBCIK 0001683553NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

Net Income

$-39.00M

Total Assets

$53.02M

Equity

$42.52M

Shares Out

2.75M

Op. Cash Flow

$-33.33M

SPRB$43.29+375.98% · past 10 monthsDBEQ Basic

Daily closing prices

Business

Spruce Biosciences is a biopharmaceutical company developing novel therapies for neurological disorders and psychiatric conditions. Its lead program TA-ERT is an enzyme replacement therapy for Mucopolysaccharidosis Type IIIB. The company also develops tildacerfont, a CRF1 receptor antagonist for major depressive disorder with a companion diagnostic, and SPR202, an anti-CRH monoclonal antibody for congenital adrenal hyperplasia. Spruce intends to commercialize through owned organizations in the United States, European Union, and United Kingdom, and through regional collaborators internationally.

Summary from 10-K filed 2026-03-09

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue	0	5	10	0	—
Research and development	20	46	49	35	31
General and administrative	17	15	13	12	11
Total operating expenses	37	61	62	47	42
Loss from operations	−37	−56	−52	−47	−42
Interest expense	−90,000	−307,000	−483,000	−420,000	−345,000
Change in fair value of warrant liability	−4	0	—	—	—
Interest and other income, net	1	3	5	2	119,000
Net loss and comprehensive loss	−39	−53	−48	−46	−42
Net loss per share, basic	−50.83	−96.4	−1.24	−1.96	−1.81
Net loss per share, diluted	−50.83	−96.4	−1.24	−1.96	−1.81
Weighted-average shares of common stock outstanding, basic	766,598	550,146	39	24	23
Weighted-average shares of common stock outstanding, diluted	766,598	550,146	39	24	23

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	49	39	96	24	43
Prepaid expenses	353,000	3	4	3	3
Other current assets	3	2	2	1	396,000
Total current assets	52	44	102	84	92
Right-of-use assets	666,000	934,000	1	1	—
Other assets	243,000	69,000	582,000	640,000	653,000
Total assets	53	45	104	86	126
Accounts payable	943,000	1	3	1	3
Accrued expenses and other current liabilities	9	12	15	9	6
Term loan, current portion	0	2	2	2	0
Total current liabilities	10	15	24	12	9
Lease liabilities, net of current portion	419,000	736,000	1	1	1
Term loan, net of current portion	0	124,000	2	3	5
Other liabilities	0	282,000	236,000	161,000	73,000
Total liabilities	11	16	27	17	15
Commitments and contingencies (Note 7)	—	—	—	—	—
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares issued or outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.0001 par value; 200,000,000 shares authorized as of December 31, 2025 and 2024; 1,372,043 and 563,042 shares issued and outstanding as of December 31, 2025 and 2024, respectively	0	0	4,000	3,000	3,000
Additional paid-in capital	332	279	274	218	215
Accumulated deficit	−289	−250	−197	−149	−103
Total stockholders' equity	43	29	77	68	111
Total liabilities and stockholders' equity	53	45	104	86	126

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−39	−53	−48	−46	−42
Stock-based compensation expense	3	5	5	4	4
Depreciation and amortization	21,000	46,000	70,000	74,000	68,000
Non-cash lease expense	268,000	247,000	230,000	355,000	—
Loss on disposal of property and equipment	0	2,000	2,000	39,000	—
Prepaid expenses and other current assets	2	391,000	−3	−817,000	415,000
Other assets	0	494,000	96,000	90,000	197,000
Accounts payable	−352,000	−2	2	−1	−805,000
Accrued expenses and other current liabilities	−3	−2	6	4	2
Deferred revenue	0	−5	5	0	—
Other liabilities	−317,000	−237,000	−176,000	−331,000	−156,000
Net cash used in operating activities	−33	−56	−33	−42	−36
Proceeds from issuance of common stock and warrants	50	0	54	0	—
Proceeds from issuance of common stock related to employee stock purchase plan	25,000	66,000	169,000	76,000	134,000
Proceeds from exercise of pre-funded warrants	40,000	0	8,000	0	—
Proceeds from exercise of common stock options	5,000	180,000	1,000	2,000	328,000
Payment of debt and equity offering costs	−4	0	—	—	—
Repayment of term loan	−2	−2	−2	0	−5
Tax withholding payments on restricted stock units	−831,000	−246,000	−311,000	−40,000	0
Net cash provided by (used in) financing activities	43	−2	49	−241,000	643,000
Net increase (decrease) in cash, cash equivalents, and restricted cash	10	−58	72	−18	−114
Cash paid for interest on term loan	68,000	225,000	369,000	266,000	207,000
Deferred offering costs included in accrued expenses and other current liabilities	82,000	0	—	—	—

Filings

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Frequently asked questions

What is SPRUCE BIOSCIENCES, INC.'s CIK number?

SPRUCE BIOSCIENCES, INC.'s SEC CIK number is 0001683553 (1683553). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find SPRUCE BIOSCIENCES, INC.'s SEC filings?

All of SPRUCE BIOSCIENCES, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did SPRUCE BIOSCIENCES, INC. last report earnings?

SPRUCE BIOSCIENCES, INC. (SPRB) most recently filed an earnings 8-K with the SEC on May 13, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-220648). This is SPRUCE BIOSCIENCES, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is SPRUCE BIOSCIENCES, INC.'s most recent earnings 8-K?

SPRUCE BIOSCIENCES, INC.'s latest earnings 8-K (Item 2.02) was filed May 13, 2026 under accession 0001193125-26-220648. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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