SPRUCE BIOSCIENCES, INC. (SPRB): restructuring charge — Spruce Biosciences reports CAHmelia-203 fails primary endpoint; cuts 21% workforce

SPRUCE BIOSCIENCES, INC.

CAHmelia-203 failed primary endpoint; tildacerfont 200mg QD showed -2.6% placebo-adjusted A4 reduction (non-significant).
Board approved workforce reduction of ~21% and termination of CAHmelia-203; estimated $0.4M cash charges, Q2 2024.
Pediatric CAHptain-205: 73% of patients met A4 or GC reduction endpoint; more rapid clearance than adults.
Cash and equivalents $96.3M at Dec 31, 2023; cost reductions extend runway through end of 2025.
Expects topline CAHmelia-204 in Q3 2024, additional CAHptain-205 data in Q4 2024, FDA meeting in Q1 2025.

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 full year ended December 31, 2023 results: revenue $10.1 million, net income $47.9 million.

Period: full year ended December 31, 2023
Revenue: $10.1 million
Net income: $47.9 million
Result: reported results

Exact text from the filing

topline results from CAHmelia-204 and additional dose-ranging data from CAHptain-205. • Collaboration Revenue: Collaboration revenue for the year ended December 31, 2023 was $10.1 million compared to nil in 2022, reflecting the partial recognition of the $15.0 million upfront payment received from Kaken Pharmaceutical (“Kaken”) in connection with the company’s

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

SPRUCE BIOSCIENCES, INC. announced a restructuring with charges of the Company estimates that it will incur approximately $0.4 million in cash charges in connection with the Realignment Plan, consisting of expenses related to e affecting workforce reduction of approximately 21% (workforce reduction of approximately 21%).

Type: restructuring
Charge: the Company estimates that it will incur approximately $0.4 million in cash charges in connection with the Realignment Plan, consisting of expenses related to e
Affected area: workforce reduction of approximately 21%
Headcount: workforce reduction of approximately 21%

Exact text from the filing

and expenditures relating to the Realignment Plan will not be known until all related activities have been completed. The Company estimates that it will incur approximately $0.4 million in cash charges in connection with the Realignment Plan, consisting of expenses related to employee severance payments and healthcare coverage assistance and related costs. The

View on SEC.gov

10 earnings releases filed in the last 30 days. Browse all earnings releases →

SPRUCE BIOSCIENCES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-030776

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.