SPRUCE BIOSCIENCES INC
For the period ended Mar 31, 2024. Filed May 13, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 13, 2024
SPRB$49.34+6.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(11,625) | $(12,791) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 1,562 | 1,060 |
| Depreciation and amortization | 15 | 19 |
| Net accretion of discount on available-for-sale securities | — | (183) |
| Non-cash lease expense | 60 | 58 |
| Loss on disposal of property and equipment | — | 2 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | — | (15,000) |
| Prepaid expenses and other current assets | (191) | 664 |
| Other assets | 74 | 157 |
| Accounts payable | (1,441) | 2,022 |
| Accrued expenses and other current liabilities | (1,354) | (793) |
| Deferred revenue | (2,003) | 13,036 |
| Other liabilities | (55) | (41) |
| Net cash used in operating activities | (14,958) | (11,790) |
| Cash flows from investing activities | ||
| Proceeds from maturities of investments | — | 22,365 |
| Purchases of investments | — | (11,881) |
| Net cash provided by investing activities | — | 10,484 |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock and warrants | — | 53,616 |
| Proceeds from exercise of common stock options | 180 | — |
| Payment of offering costs | — | (2,659) |
| Repayment of term loan | (405) | (405) |
| Tax withholding payments on restricted stock units | (2) | (23) |
| Net cash (used in) provided by financing activities | (227) | 50,529 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (15,185) | 49,223 |
| Cash, cash equivalents, and restricted cash at beginning of period | 96,374 | 24,732 |
| Cash, cash equivalents, and restricted cash at end of period | $81,189 | $73,955 |
| Reconciliation of cash, cash equivalents, and restricted cash | ||
| Cash and cash equivalents | $81,154 | $73,926 |
| Restricted cash, long-term (included in other assets) | 35 | 29 |
| Total cash, cash equivalents, and restricted cash | $81,189 | $73,955 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.