SPRUCE BIOSCIENCES INC
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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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.
Sep 30, 2024 · Filed Nov 12, 2024
SPRB$46.67-5.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(29,477) | $(37,969) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 4,387 | 3,401 |
| Depreciation and amortization | 37 | 54 |
| Net accretion of discount on available-for-sale securities | — | (570) |
| Non-cash lease expense | 183 | 171 |
| Loss on disposal of property and equipment | 2 | 2 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 1,855 | 945 |
| Other assets | 85 | 110 |
| Accounts payable | (1,533) | 1,726 |
| Accrued expenses and other current liabilities | (6,439) | 2,394 |
| Deferred revenue | (4,214) | 7,798 |
| Other liabilities | (173) | (128) |
| Net cash used in operating activities | (35,287) | (22,066) |
| Cash flows from investing activities | ||
| Proceeds from maturities of investments | — | 58,365 |
| Purchases of investments | — | (11,881) |
| Purchases of property and equipment | — | (7) |
| Net cash provided by investing activities | — | 46,477 |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock and warrants | — | 53,616 |
| Proceeds from exercise of common stock options | 180 | — |
| Proceeds from issuance of common stock related to employee stock purchase plan | 52 | 99 |
| Proceeds from exercise of pre-funded warrants | — | 8 |
| Payment of offering costs | — | (2,721) |
| Repayment of term loan | (1,216) | (1,216) |
| Tax withholding payments on restricted stock units | (13) | (94) |
| Net cash (used in) provided by financing activities | (997) | 49,692 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (36,284) | 74,103 |
| Cash, cash equivalents, and restricted cash at beginning of period | 96,374 | 24,732 |
| Cash, cash equivalents, and restricted cash at end of period | $60,090 | $98,835 |
| Reconciliation of cash, cash equivalents, and restricted cash | ||
| Cash and cash equivalents | $60,055 | $98,801 |
| Restricted cash, long-term (included in other assets) | 35 | 34 |
| Total cash, cash equivalents, and restricted cash | $60,090 | $98,835 |
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