Spruce Biosciences, Inc. (SPRB), a late-stage biopharmaceutical company, priced its previously announced public offering of 1.15 million shares at $50 per share and pre-funded warrants to purchase 50,000 shares of common stock at a purchase price of $49.99 per share. The gross proceeds to Spruce Biosciences from the offering are expected to be $60 million.
Spruce Biosciences has granted the underwriters a 30-day option to purchase up to an additional 0.18 million shares.
Leerink Partners, Guggenheim Securities, and Oppenheimer & Co. are acting as joint book-running managers.
The offering is expected to close on April 22, 2026, subject to customary closing conditions.
Spruce focuses on therapies for neurological disorders and develops TA-ERT, an enzyme replacement therapy for patients with Sanfilippo Syndrome Type B, and Tildacerfont for the treatment of Congenital Adrenal Hyperplasia (CAH).
SPRB has traded between $7.00 and $838.12. The stock closed Monday's trade at $69.89, down 0.58%.
In the pre-market, SPRB is down 21.95% at $54.55.
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