Spruce Biosciences Q1 net loss $11.8M; CAHmelia-203 25% enrolled; debt facility amended

SPRUCE BIOSCIENCES, INC.

2023-Q1 EPS reported -$0.50

Net loss $11.8M in Q1 2022 vs $9.9M in Q1 2021; cash and investments $108.9M as of March 31, 2022.
CAHmelia-203 adult classic CAH study reached 25% enrollment; topline data on track for 2H 2023.
Amended SVB debt facility provides up to $10M credit line in 2022; interest rate cut 50-250 bps.
Appointed Libbie Mansell, Ph.D., as Chief Regulatory and Quality Officer in April 2022.
Tildacerfont patent portfolio expanded with two new U.S. method-of-use patents expiring 2038.

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