SPRUCE BIOSCIENCES, INC.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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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, 2026 · Filed Nov 9, 2026
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 Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net loss | $(52,501) | $(24,320) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 2,662 | 882 |
| Depreciation and amortization | 1,621 | 16 |
| Non-cash lease expense | 216 | 199 |
| Change in fair value of warrant and conversion option liabilities | (881) | (517) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 397 | 1,606 |
| Other assets | (486) | — |
| Accounts payable | 1,789 | 91 |
| Accrued expenses and other current liabilities | 2,835 | (4,310) |
| Other liabilities | (264) | (518) |
| Net cash used in operating activities | (44,612) | (26,871) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (145) | — |
| Net cash used in investing activities | (145) | — |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock and warrants, gross | 70,360 | — |
| Proceeds from debt, gross | 14,200 | — |
| Proceeds from issuance of common stock related to employee stock purchase plan | 2 | 3 |
| Repayment of debt | — | (1,216) |
| Payment of debt and equity offering costs including deferred costs | (1,010) | — |
| Tax withholding payments on restricted stock units | (10) | — |
| Net cash provided by (used in) financing activities | 83,542 | (1,213) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 38,785 | (28,084) |
| Cash, cash equivalents, and restricted cash at beginning of period | 48,942 | 38,788 |
| Cash, cash equivalents, and restricted cash at end of period | $87,727 | $10,704 |
| Reconciliation of cash, cash equivalents, and restricted cash | ||
| Cash and cash equivalents | $87,691 | $10,669 |
| Restricted cash, long-term (included in other assets) | 36 | 35 |
| Total cash, cash equivalents, and restricted cash | $87,727 | $10,704 |
| Supplemental cash flow data: | ||
| Cash paid for interest on term loan | $1,092 | $65 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Allocation of debt to warrant liability for warrant and embedded conversion option | $7,566 | $— |
| Reclassification of debt embedded conversion option to additional paid-in capital | $3,719 | $— |
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