SPRUCE BIOSCIENCES, INC.
For the period ended Dec 31, 2025. Filed Mar 9, 2026.
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FY2025 · Filed Mar 9, 2026
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, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(38,966) | $(53,036) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 2,574 | 5,348 |
| Depreciation and amortization | 21 | 46 |
| Non-cash lease expense | 268 | 247 |
| Loss on disposal of property and equipment | — | 2 |
| Change in fair value of warrant liability | 3,500 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 2,447 | 391 |
| Other assets | — | 494 |
| Accounts payable | (352) | (2,037) |
| Accrued expenses and other current liabilities | (2,502) | (2,271) |
| Deferred revenue | — | (4,911) |
| Other liabilities | (317) | (237) |
| Net cash used in operating activities | (33,327) | (55,964) |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock and warrants | 50,000 | — |
| Proceeds from issuance of common stock related to employee stock purchase plan | 25 | 66 |
| Proceeds from exercise of pre-funded warrants | 40 | — |
| Proceeds from exercise of common stock options | 5 | 180 |
| Payment of debt and equity offering costs | (3,701) | — |
| Repayment of term loan | (2,057) | (1,622) |
| Tax withholding payments on restricted stock units | (831) | (246) |
| Net cash provided by (used in) financing activities | 43,481 | (1,622) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 10,154 | (57,586) |
| Cash, cash equivalents, and restricted cash at beginning of period | 38,788 | 96,374 |
| Cash, cash equivalents, and restricted cash at end of period | $48,942 | $38,788 |
| Reconciliation of cash, cash equivalents, and restricted cash | ||
| Cash and cash equivalents | $48,906 | $38,753 |
| Restricted cash, long-term (included in other assets) | 36 | 35 |
| Total cash, cash equivalents, and restricted cash | $48,942 | $38,788 |
| Supplemental cash flow data: | ||
| Cash paid for interest on term loan | $68 | $225 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Deferred offering costs included in accrued expenses and other current liabilities | $82 | $— |
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