Spruce Biosciences, Inc. Stock Price, News & Analysis

Spruce Biosciences, Inc. (Nasdaq: SPRB) reported its Q4 and 2020 financial results, marking a transformative year in developing therapies for rare endocrine disorders.

Key updates include the initiation of the CAHmelia program for classic congenital adrenal hyperplasia and plans for Phase 2 trials in pediatric classic CAH and PCOS. The company has $157.2 million in cash, enhancing its ability to fund ongoing clinical studies. R&D expenses rose significantly to $23.9 million, with a net loss of $29.5 million reported for the year.

Spruce Biosciences (Nasdaq: SPRB) presented promising results from its Phase 2 trials of tildacerfont for treating congenital adrenal hyperplasia (CAH) at the Endocrine Society’s 2021 Annual Meeting. Data showed significant reductions in key biomarkers: 84% in ACTH, 80% in 17-OHP, and 79% in A4 levels after 12 weeks. The drug was well tolerated, with no new safety concerns. Tildacerfont aims to be the first non-steroidal therapy for CAH, highlighting a significant milestone for patients who have lacked novel treatments for decades.

Spruce Biosciences, Inc. (Nasdaq: SPRB), a late-stage biopharmaceutical company, announced that it will present data from its Phase 1 and 2 trials of tildacerfont for classic congenital adrenal hyperplasia (CAH) at the ENDO 2021 Annual Meeting from March 20-23. Key presentations include results from a 12-week Phase 2 trial and assessments of steroid hormones during the study. Tildacerfont aims to provide a novel non-steroidal therapy, addressing a significant unmet need in CAH, which has lacked new treatments for about 50 years.

Spruce Biosciences (Nasdaq: SPRB), a late-stage biopharmaceutical company, has announced participation in two investor conferences. CEO Richard King will engage in a fireside chat at the 10th Annual SVB Leerink Global Healthcare Conference on February 24 at 9:00am PST. Additionally, he will take part in a panel discussion on March 2 at the 41st Cowen Annual Healthcare Conference at 11:10am PST. Interested parties can access live webcasts on the company’s website, with replays available for 30 days.

Spruce Biosciences (Nasdaq: SPRB) announced its focus on advancing the CAHmelia program for tildacerfont aimed at treating adults with classic congenital adrenal hyperplasia (CAH). The company plans to initiate a Phase 2 study for pediatric CAH and a rare form of polycystic ovary syndrome (PCOS) in 2021. With approximately $157 million in cash, it aims for major milestones including potential new drug applications. Spruce also bolstered its patent portfolio, extending exclusivity through 2038.

Spruce Biosciences (Nasdaq: SPRB) announced its inclusion in the Russell 2000®, 3000®, and Microcap® Indexes effective December 21, 2020, following quarterly additions by Russell. CEO Richard King highlighted this milestone as a means to enhance visibility and attract institutional investors. The Russell 2000® Index represents around 10% of the total market capitalization of the Russell 3000®. Russell indexes are utilized widely by investment managers, with around $9 trillion in assets tracked against them, indicating a significant recognition for Spruce Biosciences.

Spruce Biosciences, Inc. (Nasdaq: SPRB) reported its Q3 2020 financial results, highlighting significant advancements in its late-stage CAHmelia program for adult classic congenital adrenal hyperplasia (CAH). The company has initiated two studies, CAHmelia-203 and CAHmelia-204, to assess the impact of tildacerfont. Following a successful IPO in October 2020, Spruce reported pro forma cash and equivalents of $168.4 million. However, net losses increased to $9.6 million in Q3 2020 from $2.6 million in Q3 2019, with R&D expenses rising significantly due to clinical development efforts.

SAN FRANCISCO--Spruce Biosciences (Nasdaq: SPRB), a biopharmaceutical company focused on therapies for rare endocrine disorders, will participate in the Credit Suisse 29th Annual Virtual Healthcare Conference. CEO Richard King is scheduled to present on November 12 at 4:15 p.m. EST. Interested parties can access the live audio webcast from the company’s Investor Relations section, with a replay available for 30 days post-event. The company is developing tildacerfont to address classic congenital adrenal hyperplasia, a serious condition with no novel therapies approved in 50 years.

Spruce Biosciences announced the successful closure of its initial public offering, selling 6,900,000 shares at $15.00 each, raising gross proceeds of $103.5 million. The offering included 900,000 shares from underwriters' exercised options. Trading commenced on the Nasdaq Global Select Market on October 9, 2020, under the ticker symbol SPRB. Spruce focuses on developing therapies for rare endocrine disorders, specifically targeting congenital adrenal hyperplasia with its product candidate, tildacerfont.