Spruce Biosciences Q2 net loss $9.2M; cash $69.7M; MDD collaboration with HMNC

SPRUCE BIOSCIENCES, INC.

2024-Q2 EPS reported -$0.51 revenue$3,612,000

Net loss $9.2M for Q2 2024 vs $12.8M in Q2 2023; operating expenses down to $11.6M.
Cash $69.7M as of June 30, 2024, expected to fund operations through end of 2025.
Entered collaboration with HMNC to develop tildacerfont for major depressive disorder; HMNC funds Phase 2 study.
Topline data from CAHmelia-204 and CAHptain-205 trials expected in Q4 2024.
Collaboration revenue $1.6M from Kaken agreement, down from $2.2M in Q2 2023.

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