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Debt Financing ·
Spruce Biosciences details its $50.0 million Avenue Capital loan facility
Avenue Capital Management II, L.P. is the lender under a term loan facility signed January 7, 2026. The first $15.0 million tranche funded after closing.
SPRB Spruce Biosciences, Inc.
Spruce Biosciences (SPRB) news SPRB delisting, going concern and offering news
Latest Spruce Biosciences news
- Financings
Spruce Biosciences announces proposed underwritten public offering
Leerink Partners, Guggenheim Securities and Oppenheimer & Co. are joint book-running managers, with Jones and Craig-Hallum as co-managers.
- Financings
Spruce Biosciences agrees to $50.0 million private placement at $68.00 a share
Institutional investors are buying 502,181 shares at $68.00 and pre-funded warrants for 233,144 more, for expected gross proceeds of about $50.0 million. The 8-K contains no clinical data for tralesinidase alfa, the program Spruce plans to file in the first quarter of 2026.
- Listings
Spruce Biosciences wins Nasdaq panel appeal, with bid price deadline of August 5, 2025
A Nasdaq panel accepted Spruce Biosciences' appeal, but the stock returns to the Capital Market only if it meets the minimum bid price by August 5, 2025. Trading had been suspended on April 29, 2025, and the 10-K carries a going-concern warning.
- Listings
Spruce Biosciences wins Nasdaq appeal, must meet bid price rule by August 5, 2025
Spruce's shares have traded over the counter since a Nasdaq suspension on April 29, 2025. The Hearings Panel accepted the company's appeal on June 9, 2025, but the stock returns to the Nasdaq Capital Market only if it meets the bid price requirement by August 5, 2025.
- Listings
Spruce Biosciences gets Nasdaq delisting notice, suspension set for April 29, cuts staff 55%
Nasdaq will suspend trading on April 29, 2025, and the company's appeal will not stop it. The company is cutting 55% of staff to focus on a rare-disease therapy it has not yet filed for approval, with going-concern doubt on record.
- Distress
Spruce Biosciences delays annual report and flags going-concern doubt
Spruce expects cash to be insufficient to fund research and development for at least 12 months without new financing. It expects collaboration revenue to fall about 50%.
Spruce Biosciences annual financials
| Line | FY2025 | FY2024 |
|---|---|---|
| Revenue | $0 | $4.9 million |
| Research and development | $19.5 million | $46.4 million |
| Net income (loss) | -$39.0 million | -$53.0 million |
| Cash from operations | -$33.3 million | -$56.0 million |
| Cash and equivalents | $48.9 million | $38.8 million |
Questions about Spruce Biosciences
Was Spruce Biosciences delisted?
Our latest story on this, dated Apr 25, 2025: "Spruce Biosciences gets Nasdaq delisting notice, suspension set for April 29, cuts staff 55%". The story links the filing or release it is based on. Read the story.
Has Spruce Biosciences issued a going-concern warning?
Our latest story on this, dated Jun 12, 2025: "Spruce Biosciences wins Nasdaq panel appeal, with bid price deadline of August 5, 2025". The story links the filing or release it is based on. Read the story.
Has Spruce Biosciences raised money recently?
Our latest story on this, dated Apr 20, 2026: "Spruce Biosciences announces proposed underwritten public offering". The story links the filing or release it is based on. Read the story.
What is the ticker symbol of Spruce Biosciences?
Spruce Biosciences, Inc. trades under the ticker SPRB on NASDAQ.
Where is Spruce Biosciences listed?
Spruce Biosciences, Inc. is listed on NASDAQ.
What is the SEC CIK of Spruce Biosciences?
The SEC Central Index Key (CIK) for Spruce Biosciences, Inc. is 1683553. Its filings are on SEC EDGAR.
How many shares does Spruce Biosciences have outstanding?
2,874,013 shares as of 2026-08-10, per the cover page of its 10-Q filed 2026-08-12.
Which country or territory is Spruce Biosciences listed under?
Our directory records Spruce Biosciences, Inc. under United States.
What does Spruce Biosciences do?
Our directory classifies Spruce Biosciences, Inc. as: Biotechnology. This is a directory classification, not a description of the pipeline.
What is the ISIN of Spruce Biosciences?
The ISIN recorded for Spruce Biosciences, Inc. is US85209E2081.
Does aibio.space cover Spruce Biosciences?
aibio.space lists Spruce Biosciences, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.
Where is Spruce Biosciences incorporated?
SEC records list its state or country of incorporation as DE.
What was Spruce Biosciences's revenue last year?
$0 for the fiscal year ended Dec 31, 2025, as reported to the SEC.
Is Spruce Biosciences profitable?
Spruce Biosciences, Inc. reported a net loss of $39.0 million for the fiscal year ended Dec 31, 2025, and used $33.3 million of cash in operations, per its annual report to the SEC.
How much does Spruce Biosciences spend on research and development?
$19.5 million in the fiscal year ended Dec 31, 2025, per its annual report.
Investor discussion: Spruce Biosciences
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Capital-markets timeline
- Financings
Reported a financing. SEC Form 424B5. Source
- Distress
Reported the end of a material agreement. SEC Form 8-K (Items 1.02). Source
- Financings
Reported a financing. SEC Form 8-K (Items 1.01,1.02,2.02,5.02,9.01). Source
- Financings
Reported an unregistered sale of its securities. SEC Form 8-K (Items 1.01,2.02,2.03,3.02,7.01,9.01). Source
- Financings
Reported a financing. SEC Form 8-K (Items 1.01,3.02,8.01,9.01). Source
- Listings
Reported a reverse stock split. SEC Form 8-K (Items 3.03,5.03,5.07,7.01,9.01). Source
- Listings
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01,8.01,9.01). Source
- Listings
Reported a reverse stock split. SEC Form 8-K (Items 1.01,3.02,3.03,5.03,5.08,8.01,9.01). Source
- Listings
Asked shareholders to approve a reverse stock split. SEC Form DEF 14A. Source
- Listings
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 2.05,3.01,9.01). Source
- Listings
Asked shareholders to approve a reverse stock split. SEC Form PRE 14A. Source
- Distress
Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-K. Source
- Distress
Told the SEC a periodic report would be filed late. SEC Form NT 10-K. Source
Stock chart
SEC filings and registration
- SEC name
- Spruce Biosciences, Inc.
- CIK
- 1683553
- Industry (SIC)
- Pharmaceutical Preparations (2834)
- US tickers
- SPRB (Nasdaq)
- State or country of incorporation
- DE
- Fiscal year ends
- December 31
- Filer category
- Non-accelerated filer<br>Smaller reporting company
- Business address
- 611 GATEWAY BOULEVARD, SUITE 740, SOUTH SAN FRANCISCO, CA, 94080
- Phone
- (415) 655-4168
- Shares outstanding
- 2,874,013 as of 2026-08-10 (10-Q filed 2026-08-12)
Recent filings
Listing details
- Company
- Spruce Biosciences, Inc.
- Ticker
- SPRB
- Listing
- NASDAQ
- Country or territory
- United States
- Business scope
- Biotechnology
- ISIN
- US85209E2081
- Last quote in directory
- 2026-10-21
- Directory source
- Listing page
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