secwatch.observer — SEC 8-K summary
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Issuer:     SPRUCE BIOSCIENCES, INC. (SPRB)
CIK:        0001683553
Form:       8-K
Filed at:   2025-05-06T23:59:59+00:00
Accession:  0000950170-25-064429
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spruce Biosciences Q1 net loss $14.0M; cash runway to end 2025; TA-ERT BLA in 1H 2026
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- Q1 2025 net loss $14.0M vs $11.6M YoY; R&D includes $5.7M for SPR202 acquisition.
- Cash and equivalents $25.6M, expected to fund current operating plan through end of 2025.
- TA-ERT for MPS IIIB: BLA submission to FDA expected in 1H 2026; FDA confirmed HS-NRE as surrogate endpoint for accelerated approval.
- Tildacerfont Phase 2 TAMARIND MDD study topline results expected 1H 2026; HMNC funding and conducting study.
- Stock now trades on OTC Pink under SPRB after NYSE delisting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1683553/000095017025064429/0000950170-25-064429-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1683553/000095017025064429/sprb-20250506.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-064429

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer