---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-021979"
form_type: "8-K"
ticker: "SPRB"
cik: "0001683553"
company_name: "SPRUCE BIOSCIENCES, INC."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:18:17.855130+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Spruce Biosciences Q1 net loss $12.8M; CAH trials near enrollment goals; PCOS study topline Q3 2023

## Summary
- Cash and investments $118.6M as of March 31, 2023; with Kaken $15M upfront, runway into H1 2025.
- Collaboration revenue $2.0M (Kaken deal); R&D $11.7M; net loss $12.8M vs $11.8M YoY.
- CAHmelia-204 (adult CAH) 50% enrolled; CAHmelia-203 approaching 75% enrollment.
- P.O.W.E.R. PCOS Phase 2 fully enrolled (27 subjects); topline results expected Q3 2023.
- Appointed Mo Noursalehi, Ph.D., as SVP of Biometrics; completed $53.6M private placement.

## SEC filing metadata
- accession: 0000950170-23-021979
- form_type: 8-K
- ticker: SPRB
- cik: 0001683553
- company_name: SPRUCE BIOSCIENCES, INC.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1683553/000095017023021979/0000950170-23-021979-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1683553/000095017023021979/sprb-20230515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-021979
- JSON: https://secwatch.observer/filing/0000950170-23-021979.json
- Plain text: https://secwatch.observer/filing/0000950170-23-021979.txt

## Key facts
- Earnings Releases
  SPRUCE BIOSCIENCES, INC. reported financial results for the quarter ended March 31, 2023.
  - Period: the quarter ended March 31, 2023
  - Result: reported results
  source text: On May 15, 2023, Spruce Biosciences, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended March 31, 2023 and providing corporate updates.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1683553/000095017023021979/0000950170-23-021979-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.