Welcome to our dedicated page for Spruce Biosciences news (Ticker: SPRB), a resource for investors and traders seeking the latest updates and insights on Spruce Biosciences stock.
Spruce Biosciences, Inc. (SPRB) generates news that centers on its late-stage biopharmaceutical efforts to develop and commercialize therapies for neurological disorders with significant unmet medical need. Company announcements focus heavily on tralesinidase alfa enzyme replacement therapy (TA-ERT) for Sanfilippo Syndrome Type B (MPS IIIB), an ultra-rare, serious, and fatal genetic disease for which Spruce states there are currently no FDA-approved treatments.
News coverage for SPRB commonly includes clinical and regulatory milestones. Examples from company releases include integrated long-term clinical data for TA-ERT, demonstrating profound and durable reductions in cerebral spinal fluid heparan sulfate non-reducing end (CSF HS-NRE) and stabilization of cognition and cortical grey matter volume, as well as the U.S. FDA granting Breakthrough Therapy Designation for TA-ERT and confirming CSF HS-NRE as a surrogate biomarker reasonably likely to predict clinical benefit.
Investors also see financing and capital markets updates in Spruce’s news flow. The company has reported a private placement with institutional investors expected to provide approximately $50.0 million in gross proceeds to advance TA-ERT, and a loan and security agreement with Avenue Venture Opportunities Fund II, L.P. providing access to up to $50.0 million in term loans tied to regulatory and commercial milestones. Additional headlines cover reverse stock split actions, conditional approval and resumption of trading on the Nasdaq Capital Market, and related listing matters.
Corporate governance and pipeline diversification are further themes in SPRB news. Spruce has announced board changes, including the appointment of Keli Walbert to its board of directors and compensation committee, as well as director resignations. The company has also issued updates on tildacerfont, being studied in major depressive disorder under a collaboration with HMNC Holding GmbH, and referenced SPR202 for congenital adrenal hyperplasia. For readers tracking SPRB, this news page provides a centralized view of the company’s clinical progress, regulatory interactions, financing events, and governance developments.
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Spruce Biosciences, Inc. (NASDAQ: SPRB) reported significant developments including surpassing 50% enrollment in its CAHmelia-203 study for adult congenital adrenal hyperplasia (CAH) and a private placement financing of $53.6 million. The company entered an exclusive licensing agreement with Kaken Pharmaceutical for tildacerfont in Japan, receiving a $15 million upfront payment. With cash and investments of $79.1 million by year-end 2022, these funds extend the cash runway into 2025. The company also announced a net loss of $46.2 million for 2022, up from $42.3 million in 2021, amid rising R&D expenses to advance its clinical trials.
Spruce Biosciences (NASDAQ: SPRB), a biopharmaceutical company, announced that its CEO, Javier Szwarcberg, will present at the Oppenheimer 33rd Annual Healthcare Conference on March 14, 2023, at 2:40 PM ET. The event will focus on Spruce's commitment to developing novel therapies for rare endocrine disorders with unmet medical needs, particularly their product candidate tildacerfont, aimed at treating classic congenital adrenal hyperplasia and a rare form of polycystic ovary syndrome. Interested stakeholders can access the live webcast here, with an archived version available for 30 days on the company’s investor relations website.
Spruce Biosciences, Inc. (NASDAQ: SPRB) announced a definitive securities purchase agreement for a private placement, expected to yield gross proceeds of approximately $53.6 million. The agreement includes participation from notable investors such as 5am Ventures and Novo Holdings. This financing aims to support the late-stage development of tildacerfont, a potential treatment for congenital adrenal hyperplasia (CAH). The deal involves the purchase of around 16.1 million shares at a price of $3.17 per share, along with warrants. The funds will cover operational costs through mid-2025, with key clinical results anticipated later this year and in 2024.
Spruce Biosciences (NASDAQ: SPRB), a late-stage biopharmaceutical company, announced that CEO Javier Szwarcberg will present at the SVB Securities Global Biopharma Conference on February 15, 2023, at 2:20 p.m. ET. The company focuses on developing therapies for rare endocrine disorders, particularly its product candidate, tildacerfont, aimed at treating classic congenital adrenal hyperplasia and polycystic ovary syndrome. Interested parties can access the live webcast here and find an archived copy on the investor relations website.
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