SPRUCE BIOSCIENCES INC
For the period ended Dec 31, 2023. Filed Mar 18, 2024.
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FY2023 · Filed Mar 18, 2024
SPRB$49.34+6.0%Stored close · as of Nov 9, 2026
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Statements of Cash Flows
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net loss | $(47,919) | $(46,180) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 4,622 | 3,631 |
| Depreciation and amortization | 70 | 74 |
| Net amortization (accretion) of premium/discount on available-for-sale securities | (636) | 16 |
| Non-cash lease expense | 230 | 355 |
| Gain on lease termination | — | (750) |
| Loss on disposal of property and equipment | 2 | 39 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (2,636) | (817) |
| Other assets | 96 | 90 |
| Accounts payable | 1,906 | (1,397) |
| Accrued expenses and other current liabilities | 6,255 | 3,587 |
| Deferred revenue | 4,911 | — |
| Other liabilities | (176) | (331) |
| Net cash used in operating activities | (33,275) | (41,683) |
| Cash flows from investing activities | ||
| Proceeds from maturities of investments | 67,665 | 60,500 |
| Purchases of investments | (11,881) | (36,800) |
| Purchases of property and equipment | (7) | (8) |
| Net cash provided by investing activities | 55,777 | 23,692 |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock and warrants | 53,616 | — |
| Proceeds from issuance of common stock related to employee stock purchase plan | 169 | 76 |
| Proceeds from exercise of pre-funded warrants | 8 | — |
| Proceeds from exercise of common stock options | 1 | 2 |
| Payment of offering costs | (2,721) | (279) |
| Repayment of term loan | (1,622) | — |
| Tax withholding payments on restricted stock units | (311) | (40) |
| Net cash provided by (used in) financing activities | 49,140 | (241) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 71,642 | (18,232) |
| Cash, cash equivalents, and restricted cash at beginning of period | 24,732 | 42,964 |
| Cash, cash equivalents, and restricted cash at end of period | $96,374 | $24,732 |
| Reconciliation of cash, cash equivalents, and restricted cash | ||
| Cash and cash equivalents | $96,339 | $24,487 |
| Restricted cash, short-term (included in other current assets) | — | 216 |
| Restricted cash, long-term (included in other assets) | 35 | 29 |
| Total cash, cash equivalents, and restricted cash | $96,374 | $24,732 |
| Supplemental cash flow data: | ||
| Cash paid for interest on term loan | $369 | $266 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Deferred offering costs included in accrued expenses | $51 | $53 |
| Right-of-use asset recognized in exchange for lease liability | $11 | $1,418 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.