SPRB
Spruce Biosciences, Inc.
Research: Finviz ↗·Perplexity ↗
No convergence signal this quarter — shown because tracked funds have filed 13D/G on this stock.
News Summary
PositiveSpruce Biosciences is executing well on its FDA Breakthrough Therapy-designated TA-ERT program, with a planned BLA submission in Q4 2026 and analyst initiation at $149 PT supporting momentum. However, the company's net loss widened significantly to $16.2M in Q2 2026 (vs. $2.1M in Q2 2025), R&D spending has nearly doubled year-over-year, and the cash runway extends only to mid-2027, creating near-term financing pressure despite the recent capital raise that doubled cash reserves.
Red flags
- •Net loss nearly 8x higher in Q2 2026 vs. Q2 2025 ($16.2M vs. $2.1M)
- •R&D spending increased ~90% YoY ($19.7M H1 2026 vs. $10.4M H1 2025)
- •Limited cash runway into only mid-2027 despite $96.3M on hand
- •Stock already rallied 2,900% on FDA Breakthrough designation—limited upside surprise potential and high valuation risk
Fund 13D/13G Filings (3)
Tracked funds' beneficial-ownership filings on this stock — disclosed within days of a position change, fresher than the quarterly 13F. Since Filing compares the stock to SPY from the filing date (shown for filings within the last 90 days).
| Fund | Form | ∆ Shares | % of Class | Since Filing | Filed | Src |
|---|---|---|---|---|---|---|
| Citadel Advisors | SC 13G/A | −18K | 1.9% | -13.8% vs SPY -13.7% abs | 2026-08-14 | ↗ |
| Citadel Advisors | SC 13G/A | — | 5.1% | -13.0% vs SPY -7.5% abs | 2026-05-15 | ↗ |
| Citadel Advisors | SC 13G/A | — | 6.5% | — | 2026-02-17 | ↗ |
Tracked Funds Holding (1)
| Fund | Manager | Shares Held | Position Value |
|---|---|---|---|
| Point72 | Steve Cohen | 28K | $2M |
Quarter-end 13F positions for the tracked funds holding this stock.