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Spruce Biosciences

SPRB Rare disease Lead: Preclinical 4 Biotech Distilled articles ↓ 32 filings & releases ↓ Cash $96.3M (Jun 30, 2026) ↓ 4 verdicts ↓ 1 timing quote ↓
Metabolic Protein

Market cap $134M 2.9M shares (10-Q, Aug 10, 2026) × $46.55 close Nov 6, 2026

Most recent annual filing: 2026-03-09

Catalyst timeline

1 trackedQuarter catalyst calendar →
  1. TA-ERT tralesinidase alfa BLA filing4Q 2026TA-ERT tralesinidase alfa BLA filing, 4Q 2026, major

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (2 active programs)

Discontinued (1)

Capital (as filed)

Cash
$96.3M cash and cash equivalents · Jun 30, 2026 (10-Q)
Operating cash flow
−$22.1M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$96.3M cash, runway second half of 2027 per the update of Aug 12, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (4)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (4 calls)

Every verdict Biotech Distilled has published on Spruce Biosciences, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-05-08 Watch Spruce Biosciences (SPRB) - Scientific Deep Dive for Tralesinidase and Pipeline Products Science is sound and dilution risk is patched, but CMC/PPQ batch confirmation is needed before initiating a position ahead of the Q4 2026 BLA submission.
  2. 2026-07-28 Speculative buy speculative UPDATE: Spruce Biosciences (SPRB) - They Hired the Man Who Launched Brineura Permanent CMO hire with Brineura launch experience and a 9.1% institutional holder appearing on record corroborate the Q4 2026 BLA timeline, while a 25.8% drawdown on no news creates a cheaper entry into the binary regulatory bet.
  3. 2026-08-13 Speculative buy speculative UPDATE: Spruce Biosciences (SPRB) - The Patients Just Bought the Stock Advocacy foundations buying equity at $45.38, a second Brineura veteran hired, and a funded expanded access program address the commercial execution risk, but PPQ batch confirmation is still outstanding so the position stays a starter.
  4. 2026-08-24 Buy core UPDATE: Spruce Biosciences (SPRB) - The Factory Signed Off The explicit condition set in the deep dive is now met: first PPQ batch manufactured, FDA called comparability strategies reasonable following tech transfer, and BLA content/format aligned — removing the primary CMC failure mode and confirming the Q4 2026 filing.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (32)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 27, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

16 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)