Spruce Biosciences reports Q3 2024 net loss of $8.7M; cash runway through end of 2025; topline data expected Dec 2024

SPRUCE BIOSCIENCES, INC.

2024-Q3 EPS reported -$0.72 revenue$4,214,000

Net loss of $8.7M in Q3 2024 ($29.5M nine months); cash and equivalents $60.1M as of Sept 30, 2024.
R&D expenses fell to $6.6M (Q3 2024) from $13.5M (Q3 2023) due to study terminations and completions.
Collaboration revenue of $0.6M in Q3 2024 vs $3.1M a year ago, from Kaken Pharmaceutical partnership.
Topline results from CAHmelia-204 (adult CAH) and CAHptain-205 (adult & pediatric CAH) trials expected December 2024.
End-of-Phase 2 meeting with FDA for tildacerfont anticipated in first half of 2025.

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