SPRB on Nasdaq

SPRUCE BIOSCIENCES, INC.

We are a biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need.1

$40.47 up 1.49 (3.82%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 19, 2026.

Overview

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  • TickerSPRB on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersSouth San Francisco, California1
  • Incorporated inDE3
  • Business address611 Gateway Boulevard, Suite 740, South San Francisco, Ca 940803
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation

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We are a biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need. We have a diverse portfolio of product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment, for which there are either no approved therapies treating the underlying disease or suboptimal treatment options. We were founded in April 2016 and are led by a management team experienced in the development and commercialization of groundbreaking therapeutics.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-100.0%Revenue growth, 20255
-91.7%Return on equity5
0.00×Debt to equity5

Financial statements

Revenue675$0 in 2025
0$5.0M$10.0M$15.0M2022: $0$020222023: $10.1M$10.1M20232024: $4.9M$4.9M2024−51%2025: $0$02025
Operating income8910675-$36.5M in 2025+179% since 2019
-$60.0M-$40.0M-$20.0M02019: -$13.1M-$13.1M20192020: -$29.4M-$29.4M2020+124%2021: -$42.1M-$42.1M2021+43%2022: -$47.3M-$47.3M2022+12%2023: -$52.0M-$52.0M2023+10%2024: -$56.2M-$56.2M2024+8%2025: -$36.5M-$36.5M2025−35%
Net income8910675-$39.0M in 2025+198% since 2019
-$60.0M-$40.0M-$20.0M02019: -$13.1M-$13.1M20192020: -$29.5M-$29.5M2020+126%2021: -$42.3M-$42.3M2021+43%2022: -$46.2M-$46.2M2022+9%2023: -$47.9M-$47.9M2023+4%2024: -$53.0M-$53.0M2024+11%2025: -$39.0M-$39.0M2025−27%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Collaboration revenue$0$4.9M
Research and development$19.5M$46.4M
General and administrative$17.0M$14.6M
Total operating expenses$36.5M$61.1M
Loss from operations-$36.5M-$56.2M
Interest expense-$90.0K-$307.0K
Change in fair value of warrant liability-$3.5M$0
Interest and other income, net$1.1M$3.4M
Net loss and comprehensive loss-$39.0M-$53.0M
Net loss per share, basic-$50.83-$96.40
Net loss per share, diluted-$50.83-$96.40
Weighted-average shares of common stock outstanding, basic766.6K shares550.1K shares
Weighted-average shares of common stock outstanding, diluted766.6K shares550.1K shares

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Leadership

Who has led SPRUCE BIOSCIENCES, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Javier B. Szwarcberg2022–now

Chair

  1. Michael G. Grey2020–now

President

  1. Samir M. Gharib2022–now

Chief financial officer

  1. Samir M. Gharib2020–now
2025
Board members and other officers (16)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorSimpson Camilla named Feb 28, 2023 to Oct 17, 202532
  • DirectorDina Chaya named Feb 28, 202333

Timeline

  1. Jan 10, 2022New chief executive Javier B. Szwarcberg becomes CEO13

Filings

276 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 52 major events, 98 insider forms, 57 large holders, 2 private raises, 47 other. The latest 20:

  1. Aug 14, 2026SCHEDULE 13G EDGAR
  2. Aug 14, 2026SCHEDULE 13G/A EDGAR
  3. Aug 14, 2026SCHEDULE 13G/A EDGAR
  4. Aug 14, 2026SCHEDULE 13G EDGAR
  5. Aug 12, 202610-Q EDGAR
  6. Aug 12, 20268-K EDGAR
  7. Aug 4, 2026SCHEDULE 13G/A EDGAR
  8. Jul 30, 2026SCHEDULE 13G EDGAR
  9. Jul 29, 20264 EDGAR
  10. Jul 29, 20263 EDGAR
  11. Jul 27, 2026SCHEDULE 13G EDGAR
  12. Jul 27, 20268-K EDGAR
  13. Jul 9, 20264 EDGAR
  14. May 26, 20264 EDGAR
  15. May 26, 20264 EDGAR
  16. May 26, 20264 EDGAR
  17. May 26, 20264 EDGAR
  18. May 26, 20264 EDGAR
  19. May 26, 20268-K EDGAR
  20. May 15, 2026SCHEDULE 13G/A EDGAR

The 276 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 4 buys and 7 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Oct 6, 2025Parkman Healthcare Partners LLC10% ownerBuy256$17.91$4.6KForm 4
Oct 6, 2025Parkman Healthcare Partners LLC10% ownerSale257$19.15$4.9KForm 4
Oct 6, 2025Parkman Healthcare Partners LLC10% ownerBuy256$17.91$4.6KForm 4
Oct 6, 2025Parkman Healthcare Partners LLC10% ownerSale257$19.15$4.9KForm 4
Mar 21, 2024Novo Holdings A/S10% ownerSale465,021$0.75$348.8KForm 4
Mar 20, 2024Novo Holdings A/S10% ownerSale359,979$0.73$262.8KForm 4
Mar 19, 2024Novo Holdings A/S10% ownerSale593,000$0.76$450.7KForm 4
Mar 18, 2024Novo Holdings A/S10% ownerSale842,020$0.77$648.4KForm 4
Mar 14, 2024Novo Holdings A/S10% ownerSale1,912,316$0.89$1.7MForm 4
Feb 16, 2023O'Donnell NiallDirectorBuy630,400$3.17$2.0MForm 4
Feb 16, 2023Novo Holdings A/S10% ownerBuy2,208,000$3.17$7.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Oct 9, 2025Raised $50 million in a private offering of equity Form D: 21 investors so far Form D
  2. Feb 16, 2023Raised $53.6 million in a private offering of equity Form D: 20 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 63. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
AIGH Capital Management LLC250,000$13.5M1.2%New
Orbimed Advisors LLC200,000$10.8M0.2%New
BlackRock, Inc.187,836$10.1M0.0%+170,898
Millennium Management LLC160,981$8.7M0.0%+49,093
Ikarian Capital, LLC121,356$6.6M1.1%No change
Vanguard Capital Management LLC119,331$6.4M0.0%+100,994
Alyeska Investment Group, L.P.81,671$4.4M0.0%+30,000
Geode Capital Management, LLC70,548$3.8M0.0%+57,659
ADAR1 Capital Management, LLC67,717$3.7M0.2%+9,117
Cable Car Capital, LP60,000$3.2M0.1%New
Citadel Advisors LLC51,905$2.8M0.0%−18,094
State Street Corp50,450$2.7M0.0%+45,050
Boothbay Fund Management, LLC42,080$2.3M0.0%No change
Stempoint Capital LP41,388$2.2M0.4%+28,668
Eversept Partners, LP40,000$2.2M0.1%New
Carlyle Group Inc.38,620$2.1M0.0%No change
Goldman Sachs Group Inc32,348$1.7M0.0%+26,842
Affinity Asset Advisors, LLC30,000$1.6M0.1%New
Diadema Partners LP30,000$1.6M0.6%+20,000
Stonepine Capital Management, LLC28,795$1.6M1.2%New
Point72 Asset Management, L.P.28,278$1.5M0.0%New
Quinn Opportunity Partners LLC26,810$1.4M0.1%No change
UBS Group AG23,381$1.3M0.0%+19,462
ExodusPoint Capital Management, LP22,000$1.2M0.0%No change
Northern Trust Corp21,083$1.1M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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