Spruce Biosciences, Inc. - SPRB STOCK NEWS

Spruce Biosciences, Inc. (NASDAQ: SPRB) reported significant developments including surpassing 50% enrollment in its CAHmelia-203 study for adult congenital adrenal hyperplasia (CAH) and a private placement financing of $53.6 million. The company entered an exclusive licensing agreement with Kaken Pharmaceutical for tildacerfont in Japan, receiving a $15 million upfront payment. With cash and investments of $79.1 million by year-end 2022, these funds extend the cash runway into 2025. The company also announced a net loss of $46.2 million for 2022, up from $42.3 million in 2021, amid rising R&D expenses to advance its clinical trials.

Spruce Biosciences (NASDAQ: SPRB), a biopharmaceutical company, announced that its CEO, Javier Szwarcberg, will present at the Oppenheimer 33rd Annual Healthcare Conference on March 14, 2023, at 2:40 PM ET. The event will focus on Spruce's commitment to developing novel therapies for rare endocrine disorders with unmet medical needs, particularly their product candidate tildacerfont, aimed at treating classic congenital adrenal hyperplasia and a rare form of polycystic ovary syndrome. Interested stakeholders can access the live webcast here, with an archived version available for 30 days on the company’s investor relations website.

Spruce Biosciences, Inc. (NASDAQ: SPRB) announced a definitive securities purchase agreement for a private placement, expected to yield gross proceeds of approximately $53.6 million. The agreement includes participation from notable investors such as 5am Ventures and Novo Holdings. This financing aims to support the late-stage development of tildacerfont, a potential treatment for congenital adrenal hyperplasia (CAH). The deal involves the purchase of around 16.1 million shares at a price of $3.17 per share, along with warrants. The funds will cover operational costs through mid-2025, with key clinical results anticipated later this year and in 2024.

Spruce Biosciences (NASDAQ: SPRB), a late-stage biopharmaceutical company, announced that CEO Javier Szwarcberg will present at the SVB Securities Global Biopharma Conference on February 15, 2023, at 2:20 p.m. ET. The company focuses on developing therapies for rare endocrine disorders, particularly its product candidate, tildacerfont, aimed at treating classic congenital adrenal hyperplasia and polycystic ovary syndrome. Interested parties can access the live webcast here and find an archived copy on the investor relations website.

Spruce Biosciences (SPRB) has announced key updates regarding its clinical programs, including anticipated topline results from the CAHmelia-203 study for adult classic congenital adrenal hyperplasia (CAH) expected in the second half of 2023. The company is enhancing its Phase 2 CAHptain trial for pediatric CAH, lowering the age requirement and extending the study duration to gather more informative data. Additionally, the Phase 2 P.O.W.E.R. study for polycystic ovary syndrome (PCOS) is set to produce topline results in the first half of 2023. Financially, SPRB estimates cash on hand of approximately $79 million as of December 31, 2022.

Spruce Biosciences has announced a licensing agreement with Kaken Pharmaceutical for the development and commercialization of tildacerfont in Japan, targeted at treating congenital adrenal hyperplasia (CAH). The deal includes a $15 million upfront payment, milestone payments, and tiered royalties on net sales. Kaken will handle clinical development and regulatory approvals in Japan while Spruce retains rights in other regions. This partnership aims to meet the significant unmet medical needs for CAH treatment in Japan, leveraging Kaken's regional experience.

Spruce Biosciences (Nasdaq: SPRB) reported third-quarter financial results for the period ending September 30, 2022. The company is advancing its clinical trials, approaching 50% enrollment in CAHmelia-203 and surpassing 25% in CAHmelia-204. Notable updates include the appointment of Dr. Saba Sile as Vice President of Clinical Development. Financially, Spruce had $90.4 million in cash, with total operating expenses of $11.6 million for Q3 2022, consistent with Q3 2021. The net loss remained stable at $11.4 million, indicating ongoing investment in R&D for therapies targeting rare endocrine disorders.

Spruce Biosciences, Inc. (NASDAQ: SPRB), a biopharmaceutical company focused on rare endocrine disorders, will participate in two investor conferences in November 2022. The conferences include the Credit Suisse 31st Annual Healthcare Conference from November 7-10, where the company will present on November 8 at 2:35 p.m. PT, and the Jefferies 2022 London Healthcare Conference from November 15-17, featuring 1x1 meetings. Webcast access and replays will be available on the company’s investor relations website.