Here are the 10-Q quarterly 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-Q covers the quarterly report filed between annual reports, 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 reported a Q1 2026 net loss of $12.3 million, narrower than the $14.0 million loss a year earlier, as research and development spending declined. R&D totaled $7.6 million versus $10.8 million in Q1 2025, while general and administrative expenses rose to $4.4 million from $3.7 million.
As of March 31, 2026, Spruce held $54.1 million in cash and cash equivalents and had an accumulated deficit of $301.5 million. It also carried $16.6 million in gross debt under a new Avenue term loan, with $15.0 million funded at a 12.25% interest rate and secured by substantially all assets.
The company closed an April 2026 underwritten offering of 1,150,000 common shares and 50,000 pre-funded warrants, plus 180,000 additional shares from the underwriters’ option, for gross proceeds of about $69.0 million. Management believes existing cash plus these proceeds will fund planned operations and debt obligations for at least 12 months.
Spruce is focused on tralesinidase alfa enzyme replacement therapy (TA‑ERT) for mucopolysaccharidoses type IIIB, which has U.S. and EU orphan and breakthrough designations. The company plans to submit a biologics license application for TA‑ERT in the fourth quarter of 2026 and continues preclinical and clinical work on other candidates.