Spruce Biosciences, Inc. (SPRB) AI Stock Analysis

Spruce Biosciences, Inc. is a biopharmaceutical company focused on developing therapies for rare endocrine disorders. Its lead candidate, tildacerfont, is a non-steroidal therapy designed to reduce steroid dependency in congenital adrenal hyperplasia (CAH). Tildacerfont is undergoing Phase 2b trials in adults with classic CAH, Phase 2 trials in pediatric classic CAH, and Phase 2 trials for females with polycystic ovary syndrome. Established in 2014 and headquartered in Daly City, California, the company maintains a strategic license agreement with Eli Lilly and Company for collaborative research, development, and commercialization of pharmaceutical compounds.

Spruce Biosciences generated revenue of $2.0M in FY2022, which grew 413.7% to $10.1M in FY2023 before falling 51.3% to $4.9M in FY2024. Net losses widened from -$46.2M in FY2022 to -$47.9M in FY2023 and -$53.0M in FY2024, reflecting net margins of -2351.3%, -475.0%, and -1079.9%, respectively. R&D expenses were $35.2M in FY2022, $49.4M in FY2023, and $46.4M in FY2024. Over the trailing twelve months ended June 30, 2026, revenue was $697,000, with quarterly revenue falling 75.9% year-over-year and EPS reaching -$39.12.

As of June 30, 2026, Spruce Biosciences reported cash and short-term investments of $96.3M against total debt of $7.7M, providing a net cash balance of $88.6M. Its current ratio was 9.23 and its debt-to-equity ratio was 0.09, alongside shareholders' equity of $83.7M. Operating cash flow and free cash flow were both -$56.0M in FY2024. Financing activities included $25,000 from share issuance in FY2025, while the share count increased 298.7% over 5 years.

Spruce Biosciences trades at a price-to-sales multiple of 3.8x, slightly below the 4.1x median of its US-listed Healthcare peers. Its enterprise value stands at $53.4M against a market capitalization of $114.0M, yielding an EV-to-revenue multiple of 77.3x and a price-to-book ratio of 1.7x. The stock has experienced significant downward momentum, posting a 1-year return of -74.7% compared to 16.8% for the S&P 500 (SPY). Over five years, the stock dropped 88.2% while SPY gained 83.0%, with SPRB carrying a high beta of 3.30.

Wall Street analysts hold a positive outlook on SPRB, with 8 Strong Buy ratings, 1 Buy, and no Hold or Sell recommendations. The mean price target of $148.00 represents a 273.3% premium over the last close of $39.65. For the fiscal year ending December 31, 2026, analysts estimate revenue of $0 and an EPS of -$25.32. For the following fiscal year, 8 analysts project revenue of $78.7M and EPS of $4.97. The company logged 0 EPS beats over the last four quarters, with its next earnings date scheduled for November 9, 2026.

This page is an AI-written research summary of Spruce Biosciences, Inc. (SPRB). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: SPRB income statement, SPRB balance sheet, SPRB key metrics, SPRB analyst forecast, SPRB chart. See the SPRB stock overview for the latest quote and news.