Spruce Biosciences (NASDAQ:SPRB) Announces Quarterly Earnings Results

Spruce Biosciences (NASDAQ:SPRB) issued its quarterly earnings results on Monday. The company reported ($9.58) EPS for the quarter, missing analysts’ consensus estimates of ($9.16) by ($0.42), Zacks reports.

Here are the key takeaways from Spruce Biosciences’ conference call:

• FDA engagement has been constructive — Spruce holds Breakthrough Therapy designation and reports FDA feedback indicating the heparan sulfate non?reducing end biomarker could support an accelerated approval pathway.
• Clinical and long?term extension data show near?normalization of heparan sulfate biomarkers through six years with supportive clinical signals (Bayley, Vineland, MRI), which the company says strengthen the approval case.
• Spruce delayed its BLA to Q4 2026 because the FDA requires the first PPQ validation batch included with the filing (three PPQ batches overall), creating a timing setback for submission and review.
• The FDA allowed the company to initiate the confirmatory trial while the BLA is under review; Spruce plans an ~18?month enrollment and has submitted the protocol and feasibility assessment to the agency.
• Cash runway is about $50M (plus one debt tranche) and the company expects it may be roughly a quarter short of funding to reach PDUFA, relying on additional debt tranches, strategic/non?dilutive options, or a monetizable PRV if approved.

Spruce Biosciences Price Performance

Shares of Spruce Biosciences stock traded up $3.89 on Tuesday, reaching $66.00. 4,114 shares of the company traded hands, compared to its average volume of 39,082. Spruce Biosciences has a 52 week low of $4.28 and a 52 week high of $240.00. The firm has a market capitalization of $70.62 million, a PE ratio of -0.80 and a beta of 3.62. The company has a 50 day moving average of $72.15 and a 200 day moving average of $75.55.

Analysts Set New Price Targets

SPRB has been the subject of several recent research reports. Wall Street Zen lowered shares of Spruce Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Citigroup reaffirmed a “market perform” rating on shares of Spruce Biosciences in a research report on Tuesday, November 11th. Citizens Jmp decreased their price target on Spruce Biosciences from $180.00 to $170.00 and set a “market outperform” rating for the company in a research note on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Spruce Biosciences in a research report on Monday, December 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $200.00 price target on shares of Spruce Biosciences in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Spruce Biosciences presently has an average rating of “Hold” and an average target price of $170.10.

Hedge Funds Weigh In On Spruce Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. SkyView Investment Advisors LLC bought a new stake in Spruce Biosciences during the fourth quarter worth approximately $261,000. State Street Corp acquired a new position in Spruce Biosciences during the fourth quarter worth $558,000. Superstring Capital Management LP purchased a new stake in shares of Spruce Biosciences in the fourth quarter valued at about $1,057,000. Geode Capital Management LLC purchased a new stake in Spruce Biosciences during the 4th quarter worth approximately $1,109,000. Finally, Caligan Partners LP acquired a new position in shares of Spruce Biosciences in the 4th quarter valued at $1,787,000. 91.71% of the stock is owned by institutional investors.

Spruce Biosciences Company Profile

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company dedicated to developing therapies for rare endocrine and dermatological disorders. Headquartered in San Diego, California, Spruce focuses on conditions with significant unmet medical needs, employing a precision medicine approach to identify and advance treatment candidates through late-stage clinical trials.

The company’s lead asset, tildacerfont, is an oral corticotropin-releasing factor type 1 (CRF1) receptor antagonist being evaluated for the treatment of congenital adrenal hyperplasia (CAH), a genetic disorder characterized by insufficient cortisol production and excess androgen levels.