Spruce Biosciences Q1 net loss narrows on lower expenses

Spruce Biosciences

13/05/2026 13:08

Overview

U.S. biopharma firm's Q1 net loss narrowed on lower operating expenses

Company closed $69 mln public offering in April, extending cash runway into H2 2027

Preliminary cash and equivalents were $107.3 mln as of April 30, 2026

Outlook

Spruce expects to submit BLA for TA-ERT in Q4 2026

Spruce expects cash position to fund operations into second half of 2027

Result Drivers

R&D EXPENSES - Lower R&D expenses due to absence of prior-year one-time product acquisition costs and discontinued program, partially offset by increased TA-ERT spending

G&A EXPENSES - Higher G&A expenses driven by increased professional fees and personnel-related costs

TA-ERT INVESTMENT - Ongoing investment in TA-ERT program as company advances toward regulatory submission and potential commercial launch

Company press release: ID:nBwbcQ8VRa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$12.27 mln
Q1 Income From Operations
-$11.99 mln
Q1 Operating Expenses
$11.99 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "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 $170.00, about 200% above its May 12 closing price of $56.67

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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.)