SPRUCE BIOSCIENCES, INC.
SPRB · Pharmaceutical Preparations · 2.8M shares · -71%/yr ↓ buyback · EDGAR filings ↗
Reference price $17.91 · est. market cap ~$49M — last insider purchase, 2025-10-06 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D42Clinical/early-stage biotech — endocrine clinical, funded.
Strengths
- Liquidity — current ratio 5.2 (60th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- No interest coverageInterest coverage -405.70 (cannot cover interest)
- Going concernSome of the material risks associated with our business include the following: • We do not currently have sufficient working capital to fund our planned operations for the next twelve months and sub
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Buying back stockNet buyback — share count -71%/yr over 3y
- New fund positionNotable fund(s) opened this quarter: GOLDMAN SACHS GROUP INC
- Notable holderHeld by 3 notable fund(s): CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC, STATE STREET CORP (as of 2026-03-31)
- Revenue declineRevenue -100.0% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-91.7%
Return on assets
-73.5%
ROIC
-67.8%
Revenue growth (QoQ)
-100.0%
Debt / equity
0.0×
Interest coverage
-405.7×
Current ratio
5.2×
EBITDA
-$36M
Tangible book value
$43M
Cash & investments
$49M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2025-12-31 | Szwarcberg Javier B. | Grant | 4.7K | $4.53 |
| 2025-12-15 | Szwarcberg Javier B. | Option exercise | 1.5K | — |
| 2025-12-15 | Szwarcberg Javier B. | Tax withheld | 752 | $80.67 |
| 2025-12-15 | Szwarcberg Javier B. | Option exercise | 1.2K | — |
| 2025-12-15 | Szwarcberg Javier B. | Tax withheld | 608 | $80.67 |
| 2025-12-15 | Gharib Samir M. | Option exercise | 496 | — |
| 2025-12-15 | Gharib Samir M. | Tax withheld | 178 | $80.67 |
| 2025-12-15 | Gharib Samir M. | Tax withheld | 184 | $80.67 |
| 2025-12-15 | Gharib Samir M. | Option exercise | 513 | — |
| 2025-12-11 | Szwarcberg Javier B. | Tax withheld | 2.2K | $88.41 |
| 2025-12-11 | Gharib Samir M. | Option exercise | 1.9K | — |
| 2025-12-11 | Gharib Samir M. | Tax withheld | 680 | $88.41 |
| 2025-12-11 | Szwarcberg Javier B. | Option exercise | 5.0K | — |
| 2025-12-11 | Ways Douglas Kirk | Option exercise | 1.2K | — |
| 2025-12-10 | Gharib Samir M. | Option exercise | 514 | — |
| 2025-12-10 | Szwarcberg Javier B. | Option exercise | 1.2K | — |
| 2025-12-10 | Szwarcberg Javier B. | Tax withheld | 428 | $85.67 |
| 2025-12-10 | Gharib Samir M. | Tax withheld | 184 | $85.67 |
| 2025-10-20 | Szwarcberg Javier B. | Option exercise | 4.8K | — |
| 2025-10-20 | Szwarcberg Javier B. | Tax withheld | 1.5K | $148.16 |
| 2025-10-20 | Gharib Samir M. | Option exercise | 2.1K | — |
| 2025-10-20 | Gharib Samir M. | Tax withheld | 661 | $148.16 |
| 2025-10-06 | Parkman Healthcare Partners LLC | Buy | 256 | $17.91 |
| 2025-10-06 | Parkman Healthcare Partners LLC | Sell | 232 | $19.33 |
| 2025-10-06 | Parkman Healthcare Partners LLC | Sell | 25 | $17.46 |
| 2025-10-06 | Parkman Healthcare Partners LLC | Buy | 256 | $17.91 |
| 2025-10-06 | Parkman Healthcare Partners LLC | Sell | 232 | $19.33 |
| 2025-10-06 | Parkman Healthcare Partners LLC | Sell | 25 | $17.46 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-26 | Shareholder voteExhibits | filing ↗ |
| 2026-05-13 | ResultsExhibits | filing ↗ |
| 2026-04-22 | Material agreementOtherExhibits | filing ↗ |
| 2026-03-20 | 1.02 | filing ↗ |
| 2026-03-09 | Material agreement1.02ResultsExec/director changeExhibits | filing ↗ |
| 2026-02-05 | Reg FDOtherExhibits | filing ↗ |
| 2026-01-08 | Material agreementResultsDebt obligation3.02Reg FDExhibits | filing ↗ |
| 2025-12-15 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-26 | 2026-05-21 | 0001193125-26-239230 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001193125-26-220648 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001193125-26-221605 ↗ |
| 8-K | 2026-04-22 | 2026-04-20 | 0001193125-26-167332 ↗ |
| 8-K | 2026-03-20 | 2026-03-16 | 0001193125-26-117888 ↗ |
| 10-K | 2026-03-09 | 2025-12-31 | 0001193125-26-097558 ↗ |
| 8-K | 2026-03-09 | 2026-03-09 | 0001193125-26-097561 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001193125-26-039399 ↗ |
| 8-K | 2026-01-08 | 2026-01-07 | 0001193125-26-007038 ↗ |
| 8-K | 2025-12-15 | 2025-12-11 | 0001193125-25-318488 ↗ |
| 8-K | 2025-12-12 | 2025-12-11 | 0001193125-25-317532 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001193125-25-274234 ↗ |