Spruce Biosciences (SPRB)

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Spruce Biosciences, Inc. is a biopharmaceutical company focused on developing treatments for rare diseases where patients have few, or in some cases no, approved therapeutic options. Its work sits in the high-risk clinical-stage drug development market, where value is driven by progress through trials, regulatory interactions, intellectual property and the medical need addressed by each candidate.

The company’s pipeline includes therapies designed for serious inherited and endocrine-related disorders. One product candidate described in its portfolio is TA-ERT, an enzyme replacement therapy being developed for Mucopolysaccharidosis Type IIIB, also known as Sanfilippo syndrome type B. MPS IIIB is a rare lysosomal storage disorder caused by deficient activity of the alpha-N-acetylglucosaminidase enzyme, leading to accumulation of heparan sulfate and progressive neurological decline.

TA-ERT is engineered as a fusion protein containing recombinant human alpha-N-acetylglucosaminidase. It is intended to restore missing enzyme activity in the central nervous system and support clearance of accumulated substrate in the brain. Because the disease primarily affects neurological function, the candidate is designed for intracerebroventricular administration, a delivery approach intended to reach the central nervous system more directly than conventional systemic dosing.

Spruce’s investment case is therefore closely linked to clinical execution, safety and efficacy data, manufacturing capability and the regulatory pathway for rare disease therapies. Companies in this area can benefit from orphan-drug incentives and high unmet need, but they also face material uncertainty, including small patient populations, complex trial design and the need to demonstrate meaningful clinical benefit in severe, progressive disorders.

53.17 USD
50.80 USD
+4.12 (+8.40%)
After-hours

Last updated

Market Cap
146.34M
P/E
P/FCF
P/S
Enterprise Value
98.72M
Sector
Health Care
Industry
Pharmaceutical Preparations
Address
611 GATEWAY BOULEVARD, SUITE 740, SOUTH SAN FRANCISCO, CA, 94080
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Market Cap
146.34M
Enterprise Value
98.72M
P/E
P/B
4.22
P/S
EV / EBITDA
-2.93
EV / Sales
EPS
-13.51
Dividend Yield
0%
P/FCF
P/CF
Free Cash Flow
-29.34M
ROE
-107.34%
ROA
-66.22%
Debt / Equity
0.19
Current Ratio
4.67
Quick Ratio
4.67
Cash
4.59
Avg Volume
52.03K
Fundamentals Snapshot Price
53.17

Income Statement

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Revenue
Gross profit
Operating income -11.99M -11.1M -8.23M -2.69M -14.49M
EBITDA -11.74M -11.1M -8.23M -2.69M -14.49M
Net income -12.27M -14.65M -8.21M -2.07M -14.04M
Basic EPS -8.94 -9.58 -14.58 -3.5 -23.95
Diluted EPS -8.94 -9.58 -14.58 -3.5 -23.95

Balance Sheet

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Total assets 56.17M 53.02M 15.31M 21.82M 31.65M
Total liabilities 21.52M 10.51M 9.93M 8.64M 16.33M
Total equity 34.65M 42.52M 5.39M 13.18M 15.32M
Cash & equivalents 54.08M 48.91M 10.67M 16.39M 25.62M
Current assets 55.03M 52.11M 14.52M 20.95M 30.58M
Current liabilities 11.78M 10.09M 9.43M 8.06M 15.67M

Cash Flow

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Operating cash flow -8.73M -6.46M -5.32M -8.83M -12.73M
Investing cash flow -10K
Financing cash flow 13.92M 44.69M -402K -400K -411K
Change in cash 5.17M 38.24M -5.72M -9.23M -13.14M
Kind Filing Date Link
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edgar index 10-K — SPRUCE BIOSCIENCES, INC. View Filing
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