Here are the 10-K annual reports from SPRBD (SPRBD) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow SPRBD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SPRBD filings page.
Spruce Biosciences files its Annual Report outlining a high‑risk but focused rare‑disease strategy and a challenging financial position. The company highlights substantial doubt about its ability to continue as a going concern and says it lacks sufficient working capital for the next twelve months without new funding.
Its lead program, TA‑ERT, targets ultra‑rare MPS IIIB, where no FDA‑approved therapies exist. Long‑term studies showed normalization of key biomarkers and stabilization of cognitive function, and the FDA has agreed that CSF HS‑NRE may support accelerated approval if a confirmatory Phase 3 trial is started during biologics license review. Spruce is preparing a BLA submission, now anticipated in late 2026.
The report also details earlier‑stage assets, including tildacerfont with the Cortibon diagnostic for major depressive disorder, where a Phase 2 trial was discontinued after a serious liver enzyme elevation, and SPR202 for congenital adrenal hyperplasia, licensed from HBM with milestones up to $390.0 million. As of June 30, 2025, non‑affiliate common stock held a market value of about $2.8 million, and 1,372,043 shares were outstanding as of March 3, 2026; these figures frame the small scale of the company against its extensive development and licensing obligations.