Spruce Biosciences Q2 net loss widens on higher expenses

Spruce Biosciences

12/08/2026 14:10

Overview
US biopharmaceutical firm's Q2 net loss widened as operating expenses increased to advance TA-ERT
Company expects TA-ERT BLA submission and confirmatory study initiation in Q4 2026
Spruce received $5.5 mln strategic investment to support expanded access to TA-ERT

Outlook
Spruce anticipates submitting a BLA for TA-ERT in Q4 2026
Company expects to initiate TrAnsform confirmatory study for TA-ERT in Q4 2026
Company expects cash and equivalents to fund operations into the second half of 2027

Result Drivers
TA-ERT DEVELOPMENT COSTS - Co said higher R&D expenses were mainly due to advancing TA-ERT, including manufacturing scale-up and clinical development
PRE-LAUNCH SPENDING - Co said G&A expenses rose due to increased personnel-related costs and professional fees to support growth and pre-launch activities
STRATEGIC INVESTMENT - $5.5 mln investment from Cure Sanfilippo Foundation and National MPS Society to partially fund TA-ERT expanded access program

Company press release: ID:nBw8K2t6Sa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$6.68
 
Q2 Net Loss
 
$16.23 mln
 
Q2 Income From Operations
 
-$16.51 mln
 
Q2 Operating Expenses
 
$16.51 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Spruce Biosciences, Inc. is $145.00, about 212.4% above its August 11 closing price of $46.41

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)