Quarterly ResultMay 13, 2026, 08:07 AM
Spruce Biosciences Q1 Net Loss $12.3M; Cash $107.3M (April 30)
AI Summary
Spruce Biosciences reported a net loss of $12.3 million for the first quarter ended March 31, 2026. The company significantly strengthened its financial position by closing a $69.0 million public offering and securing a $50.0 million term loan facility, extending its cash runway into the second half of 2027. As of April 30, 2026, preliminary cash and cash equivalents stood at $107.3 million. Spruce also provided corporate updates, including continued progress toward a Biologics License Application (BLA) submission for TA-ERT in Q4 2026 and expansion of its leadership team to support commercial readiness.
Key Highlights
- Q1 2026 net loss was $12.3 million, or $(8.94) per basic and diluted share.
- Cash and cash equivalents were $54.1 million as of March 31, 2026.
- Preliminary cash and cash equivalents were $107.3 million as of April 30, 2026.
- Closed a public offering for $69.0 million in gross proceeds in April 2026.
- Secured a loan and security agreement for up to $50.0 million in term loans.
- Extended cash runway into the second half of 2027, beyond anticipated FDA approval.
- Continued progress toward BLA submission for TA-ERT for MPS IIIB in Q4 2026.
- Strengthened leadership team across commercial, clinical development, and regulatory functions.