Spruce Q3 net loss $11.4M; CAHmelia-203 topline delayed to 2023; CEO retired

SPRUCE BIOSCIENCES, INC.

2022-Q3 EPS reported -$1.42

Net loss of $11.4M for Q3 2021; cash and investments $131.3M as of Sep 30.
R&D expenses $8.6M (Q3 2021) vs $7.8M (Q3 2020); G&A $2.8M vs $1.8M.
CAHmelia-203 topline results now expected in 2023 due to COVID-19 enrollment impact.
Phase 2 trials in pediatric CAH and PCOS remain on track for initiation.
CEO Richard King retired; Executive Chairman Mike Grey appointed Interim CEO.

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