Spruce Biosciences filings document the regulatory, financing and governance record of a late-stage biopharmaceutical company developing TA-ERT for Sanfilippo Syndrome Type B (MPS IIIB). Form 8-K disclosures cover material agreements, including loan and security arrangements, at-the-market equity sale agreements, collaboration and license matters, and furnished clinical data updates related to the TA-ERT program.
Proxy materials describe shareholder voting matters, director elections, board committee changes, executive compensation and equity incentive plan matters. The filing record also includes capital-structure disclosures tied to common stock, equity awards, financing arrangements, risk factors and public-company governance.
Spruce Biosciences, Inc. ownership disclosure: a group of Citadel-related reporting persons jointly report beneficial ownership positions in the issuer's Common Stock. The filing states Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC each may beneficially own 69,999 shares, and Kenneth Griffin may beneficially own 70,065 shares.
The filing cites 1,372,278 Shares outstanding as of March 24, 2026 and reports the listed holdings represent 5.1% of the class for the primary holders named. Shared voting and dispositive power is reported for those positions.
Spruce Biosciences (SPRB) ownership update: Alyeska Investment Group, L.P. and related filers report beneficial ownership of 61,670 shares of common stock, equal to 4.49% of the class as of March 31, 2026. The holding comprises 21,671 common shares, 9,999 shares issuable upon exercise of warrants, and 30,000 shares acquired in a private placement. The filing cites 1,372,043 shares outstanding per a Form 424B5 dated March 9, 2026. Alyeska Investment Group, L.P. discloses shared voting and dispositive power for the 61,670 shares, and Anand Parekh is identified as CEO of Alyeska Investment Group, L.P.; he disclaims beneficial ownership of certain shares held by Alyeska Master Fund, L.P.
Spruce Biosciences ownership update: Squadron Master Fund LP, Squadron Capital Management, LLC and principals Matthew Sesterhenn and William Blank each report beneficial ownership of 12,200 shares of common stock, representing 0.9% of the class. The filings state these shares reflect shared voting and dispositive power, with no sole voting or dispositive power. The ownership percentage is based on 1,372,043 shares outstanding as of March 3, 2026. The statement includes an express disclaimer of beneficial ownership under Rule 13d-4. The amendment is signed by reporting persons on 05/15/2026.
Spruce Biosciences, Inc. (Common Stock, CUSIP 85209E208) is reported as being beneficially owned in part by Wellington Management entities. The filing shows a 3.56% beneficial ownership position represented by shared voting power of 34,769 shares and shared dispositive power of 48,796. The Schedule 13G/A states these securities are owned of record by clients of Wellington Investment Advisers and lists the chain of parent and affiliate entities. The filing was signed by a compliance manager on 05/15/2026.
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.
Spruce Biosciences reported a first quarter 2026 net loss of $12.3 million, or $(8.94) per share, improving from a $14.0 million loss a year earlier as total operating expenses fell to $12.0 million from $14.5 million on lower R&D spending.
Cash and cash equivalents were $54.1 million as of March 31, 2026 and approximately $107.3 million as of April 30, 2026, supported by a $69.0 million underwritten equity offering and a term loan facility of up to $50.0 million. The company expects this liquidity, together with the April financing, to fund planned operations and debt obligations into the second half of 2027 as it advances its lead therapy TA‑ERT toward a planned BLA submission in the fourth quarter of 2026.
Spruce Biosciences ownership update: Ikarian Capital, LLC and Neil Shahrestani report shared beneficial ownership of 121,356 shares of Common Stock, representing 4.8% of the class.
The percentage is calculated using 2,522,043 shares outstanding as of April 22, 2026, per the Issuer's prospectus. The filing states these shares are held by Ikarian Healthcare Master Fund, L.P. and certain managed accounts, with Ikarian Capital exercising investment discretion and Mr. Shahrestani deemed to indirectly control Ikarian Capital.
Spruce Biosciences, Inc. ownership disclosure: ExodusPoint entities and Michael Gelband report shared beneficial ownership of 22,000 shares of Common Stock. The statement says these shares are held by ExodusPoint Partners Master Fund and that, as of April 27, 2026, each reporting person may be deemed to beneficially own approximately 0.8% of the outstanding class.
The filing states ExodusPoint Capital Management retains investment and voting power over the fund's holdings, ExodusPoint Capital Partners is the fund's general partner, and Mr. Gelband controls both entities. A Joint Filing Agreement is attached as Exhibit 1.
Spruce Biosciences entered into an underwriting agreement for a public sale of 1,150,000 shares of common stock at $50.00 per share and pre-funded warrants to purchase 50,000 shares at $49.99 each. Underwriters also exercised a 30-day option to buy 180,000 additional shares at the public price.
The transaction is expected to generate approximately $69.0 million in gross proceeds before fees, providing new capital to the company. The pre-funded warrants carry a $0.01 exercise price and limits that generally cap any holder’s beneficial ownership at 4.99%, with the ability to elect up to 9.99% with advance notice.
Spruce Biosciences is offering 1,150,000 shares of common stock and pre-funded warrants to purchase 50,000 shares. The offering prices are $50.00 per share and $49.99 per pre-funded warrant, with expected gross proceeds of $59,999,500 before underwriting discounts. Net proceeds are estimated at approximately $55.9 million, intended to fund pre-commercial and launch activities, planned clinical trials, working capital, capital expenditures and general corporate purposes.
The pre-funded warrants have a $0.01 exercise price, do not expire, are not expected to be listed, and include beneficial-ownership exercise limits (4.99% default, electable to 9.99%). The underwriters have a 30-day option to purchase up to 180,000 additional shares.