Business
Spruce Biosciences Reports First Quarter 2026 Financial Results and Provides Corporate Updates
Long-Term TA-ERT Data Presented at the 22nd Annual WORLDSymposium™ Highlight Rapid and Durable Reduction of Heparan Sulfate and Stabilization of Cognitive
About this update from Spruce Biosciences, Inc.
[{"type":"text","content":"\nLong-Term TA-ERT Data Presented at the 22nd Annual WORLDSymposium™ Highlight Rapid and Durable Reduction of Heparan Sulfate and Stabilization of Cognitive Function in Patients with MPS IIIB\n\n\nStrengthened Leadership Team Across Commercial, Clinical Development, and Regulatory Functions to Support BLA Submission and Pre-Launch Readiness\n\n\nClosed Underwritten Public Offering for $69.0 Million in Gross Proceeds, Extending Cash Runway into the Second Half of 2027 and Beyond Anticipated Potential FDA Approval of TA-ERT\n\n\nEntered into Loan and Security Agreement with Avenue Capital for up to $50.0 Million in Term Loans to Strengthen Financial Flexibility Ahead of Potential U.S. Commercial Launch\n\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nSpruce Biosciences, Inc. (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need, today reported financial results for the first quarter ended March 31, 2026 and provided corporate updates.\n\n\n“We are very pleased with the meaningful progress we continue to make in advancing TA-ERT toward our planned biologics license application submission in the fourth quarter of 2026. This would mark a transformative milestone for Spruce and, more importantly, for the children living with MPS IIIB,” said Javier Szwarcberg, M.D., M.P.H., Chief Executive Officer of Spruce Biosciences. “In April, our balance sheet was meaningfully strengthened with the closing of our $69.0 million underwritten public offering, which was in addition to our $50.0 million term loan facility signed with Avenue Capital in January, and we are now well positioned to support TA-ERT through key regulatory milestones and to prepare for a potential commercial launch in the United States next year. I want to thank our entire team at Spruce for their tremendous efforts and am also grateful for the continued support from our Board, shareholders, and, most importantly, from the families and patients living with MPS IIIB. We look forward to making a meaningful difference in patients’ lives.”\n\n\nTA-ERT Program Updates\n\n\n\nContinued progress toward BLA submission for TA-ERT for the treatment of MPS IIIB: Spruce continues to advance manufacturing readiness, regulatory interactions, and commercial planning t...