49.34
+5.99%
Close of 9 Nov 2026, in USD
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About Spruce Biosciences
From its filings with the US Securities and Exchange Commission
Spruce Biosciences is based in South San Francisco, California and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker SPRB. The SEC classifies its business as pharmaceutical preparations. In the fiscal year to 31 December 2025, it reported revenue of $0 and a net loss of $39.0m. At that date it held total assets of $53.0m and shareholders' equity of $42.5m.
We are a biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need. We have a diverse portfolio of product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment, for which there are either no approved therapies treating the underlying disease or suboptimal treatment options. We were founded in April 2016 and are led by a management team experienced in the development and commercialization of groundbreaking therapeutics.
We have a diverse portfolio of biologics and small molecule product candidates aimed at addressing diseases with significant unmet medical need and clear biology for treatment, for which there are suboptimal treatment options or no approved therapies treating the underlying disease.
TA-ERT is a fusion protein comprised of recombinant human alpha-N-acetylglucosaminidase (“rhNAGLU”). TA-ERT is intended as an enzyme replacement therapy for the treatment of patients with MPS IIIB who lack rhNAGLU enzyme activity. TA-ERT is expected to restore rhNAGLU enzyme activity in the central nervous system following intracerebroventricular (“ICV”) injection. rhNAGLU typically lacks the mannose-6 phosphate residues that are essential for efficient cellular uptake via the M6P receptor pathway. As a result, the naked enzyme is poorly absorbed by cells, including neurons. To address this challenge, TA-ERT is fused to an insulin-like growth factor 2 peptide, which binds to the cation-independent mannose-6-phosphate on cell surfaces.
Quoted from its 10-K, filed 9 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Biotechnology
- Listed since
- 9 Oct 2020
- Employees
- 31
- Website
- sprucebiosciences.com ↗
- Head office
- 611 GATEWAY BOULEVARD, SUITE 740, SOUTH SAN FRANCISCO, CA, 94080
- Incorporated in
- DE
- Classification
- Pharmaceutical Preparations
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. Michael GreyExecutive Chairman of the Board, since 2016$89,224
- Mr. Samir GharibPresident, Chief Financial Officer$929,690
- Dr. Javier SzwarcbergChief Executive Officer, Director, since 2022$1.5m
- Dr. Kirk WaysInterim Chief Medical Officer, Director, since 2021$70,974
- Dr. Tiba AynechiIndependent Director$69,224
- Mr. Percival Barretto-KoIndependent Director$66,724
- Dr. Bali MuralidharIndependent Director$64,224
- Ms. Camilla SimpsonIndependent Director$72,801
- Mr. Daniel SpiegelmanIndependent Director$78,224
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 47
- Environment
- 50
- Social
- 55
- Governance
- 36
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Operates as a late-stage biopharmaceutical company focused on rare endocrine diseases.
- Developing Tildacerfont as a potential first non-steroidal therapy for classic CAH.
- Has initiated two Phase IIb clinical trials for Tildacerfont in CAH patients.
Weaknesses
- Employs only 31 full-time employees.
- IPO occurred in 2020, indicating limited market history.
- Relies on a single product candidate, Tildacerfont, for development.
Opportunities
- Potential approval of Tildacerfont as a non-steroidal therapy for CAH.
- Expansion of Tildacerfont use for PCOS with adrenal dysfunction.
- Successful completion of Phase IIb trials could lead to further development stages.
Threats
- Dependence on a single product candidate for company success.
- Clinical trial outcomes are uncertain and could delay or halt development.
- Competition in the rare disease therapeutic space may emerge.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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