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Spruce Biosciences, Inc. (NASDAQ: SPRB) is a clinical-stage biopharmaceutical company dedicated to pioneering new therapies for rare endocrine disorders. The company's mission is to develop and commercialize novel treatments that address unmet medical needs within this specialized field.
Spruce Biosciences is currently advancing its primary product candidate, tildacerfont. This innovative therapy is being developed to serve as the first non-steroidal treatment designed to significantly improve disease management and lessen the dependency on steroids for patients with classic congenital adrenal hyperplasia (CAH). CAH is a genetic disorder affecting the adrenal glands, leading to an imbalance in hormone production. Tildacerfont aims to address this imbalance, offering a promising alternative for patients who have limited treatment options.
The company has made notable strides in its development programs, with ongoing clinical trials aiming to demonstrate the efficacy and safety of tildacerfont. These efforts are crucial in pushing the boundaries of current endocrine disorder treatments and providing new hope for those affected by these rare conditions.
In addition to its flagship product, Spruce Biosciences actively explores other potential therapies and partnerships to expand its impact in the field of endocrinology. The company’s financial health is supported by strategic investments and collaborations, ensuring robust progress towards its goals.
Spruce Biosciences’ commitment to addressing rare endocrine diseases positions it as a significant player in the biopharmaceutical industry. With a clear focus on innovation and patient care, the company continues to make meaningful advancements in medical science. Stay updated with the latest developments from Spruce Biosciences to learn more about its ongoing projects and clinical trials.
Spruce Biosciences (Nasdaq: SPRB), a biopharmaceutical company, reported its Q1 2024 financial results and provided corporate updates. Key highlights include a 45% reduction in ACTH in the CAHmelia-203 study, correlating higher baseline GC doses and drug compliance with better outcomes. The company anticipates topline data from CAHmelia-204 and CAHptain-205 in Q3 2024. Financially, Spruce reported $81.2 million in cash reserves, $2 million in collaboration revenue, and a net loss of $11.6 million, improving from $12.8 million YoY. R&D expenses decreased to $10.3 million, while G&A expenses rose to $4.3 million. Total operating expenses were $14.6 million, down from $15.2 million a year ago. Upcoming milestones include Phase 2 data and an FDA meeting in early 2025.
Spruce Biosciences, Inc. (Nasdaq: SPRB) will participate in two upcoming investor conferences in May, featuring Fireside chats and 1x1 meetings. The events will include the JMP Securities Life Sciences Conference on May 13-14, 2024, and the RBC Capital Markets Global Healthcare Conference on May 14-15, 2024. The CEO, Javier Szwarcberg, M.D., M.P.H., will be presenting at these conferences, with webcasts available on the company's investor relations website.
Spruce Biosciences, Inc. announced additional poster presentations at the Pediatric Endocrine Society 2024 Annual Meeting, highlighting baseline characteristics of their CAHptain program for children with congenital adrenal hyperplasia (CAH) and the CAHmelia program for adults with CAH. The company is focused on developing therapies for rare endocrine disorders and will present abstracts at the conference in Chicago, IL.
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