Spruce Biosciences falls after equity offering launch

Spruce Biosciences

20/04/2026 21:19

** Spruce Biosciences' SPRB.O shares down 9.9% to $63 post-market after equity raise news

** Biopharma focused on neurological disorders commences offering of stock and pre-funded warrants without disclosing deal size

** Leerink, Guggenheim and Oppenheimer joint bookrunners

** Co intends to use net offering proceeds to advance pre-commercial and launch activities, for planned clinical trials, among other uses, per the prospectus

** South San Francisco, California-based SPRB has ~1.4 mln shares outstanding for ~$98 mln market cap

** SPRB shares finished down 0.6% at $69.90 on Mon, off ~20% YTD

** 2 analysts rate the stock "strong buy", the other 2 rate "buy"; median PT $185, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))