Company: SPRB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001193125-25-274234
Chunk: 4

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 4
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5.0 million from the issuance of debt, $53.6 million from a private placement financing in February 2023, and the $15.0 million upfront payment from Kaken received in April 2023. As of September 30, 2025, we had cash and cash equivalents of $10.7 million. In October 2025, the Company received gross proceeds of approximately $50.0 million from the sale of equity securities.

Without alternative financing or proceeds from other strategic alternatives, we believe, based on our current operating plan, that our cash and cash equivalents as of September 30, 2025 will be insufficient to fund our operations and debt obligations for at least 12