Spruce Biosciences Q2 net loss $12.8M; reports positive PCOS interim data

SPRUCE BIOSCIENCES, INC.

2023-Q2 EPS reported -$0.71 revenue$4,129,000

Net loss of $12.8M for Q2 2023 vs $11.9M for Q2 2022; six-month loss $25.6M.
Cash, equivalents and investments of $120.5M; expected to fund operations into H1 2025.
Collaboration revenue $2.2M from Kaken Pharmaceutical upfront payment recognition.
Interim Phase 2 PCOS data (20 patients) suggests DHEAS reduction with tildacerfont; no serious AEs.
CAHmelia-203 enrollment >75%; CAHmelia-204 nearing 75%; CAHptain cohort 3 screening underway.

item 2.02 item 9.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SPRUCE BIOSCIENCES, INC. reported second quarter ended June 30, 2023 results: revenue $2.2 million.

Period: second quarter ended June 30, 2023
Revenue: $2.2 million
Result: reported results

Exact text from the filing

to fund operating and capital expenditures into the first half of 2025. • Collaboration Revenue: Collaboration revenue for the three and six months ended June 30, 2023 were $2.2 million and $4.1 million, respectively, compared to nil for the same periods in 2022. The increase in collaboration revenue reflects the partial recognition of the $15.0 million upfront

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Source: SEC EDGAR

accession 0000950170-23-042420

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