Fed governors may dissent against Powell amid Trump pressure - WSJ’s Timiraos
Spruce Biosciences Inc (SPRB) stock has plummeted to a 52-week low, reaching a distressing price level of $0.09 USD. This significant downturn reflects a staggering 1-year change with the stock value eroding by -81.72%. According to InvestingPro data, while the company maintains a healthy current ratio of 2.9 and holds more cash than debt, its overall financial health score remains weak at 1.42 out of 5. Investors have watched with concern as SPRB shares have consistently underperformed, culminating in this latest low point. The company, which focuses on developing treatments for rare endocrine disorders, has faced a tough market environment, leading to a dramatic decline from its previous positions. This 52-week low serves as a critical juncture for Spruce Biosciences, as stakeholders and market analysts reassess the company’s prospects amidst such a challenging financial landscape. InvestingPro analysis shows the stock is currently in oversold territory, with analyst price targets ranging from $0.50 to $1.00. Get the full picture with InvestingPro’s comprehensive Research Report, available for over 1,400 US stocks.
In other recent news, Spruce Biosciences has announced a workforce reduction of 55% as part of its strategic focus on advancing the development of tralesinidase alfa, an enzyme replacement therapy. The company is also dealing with a potential delisting from the Nasdaq stock market due to non-compliance with the minimum bid price requirement, and it plans to appeal this decision while considering a reverse stock split to regain compliance. Meanwhile, Citizens JMP has maintained its Market Perform rating on Spruce Biosciences, highlighting the company’s focus on its pipeline, including the anticipated submission of a Biologics License Application for tralesinidase alfa in 2026. Spruce Biosciences has also expanded its pipeline with the acquisition of two preclinical candidates, SPR202 and SPR204, currently undergoing Investigational New Drug-enabling studies. The company is progressing with its drug candidate, tildacerfont, for major depressive disorder, with trial results expected in the first half of 2026. Additionally, Spruce Biosciences has reported a delay in its annual financial filing with the SEC, providing preliminary estimates but emphasizing these are provisional. The company has disclosed cash and cash equivalents of $38.8 million as of December 31, 2024, with expectations of a cash runway through the end of 2025. Spruce Biosciences continues to focus on addressing unmet medical needs, having received fast-track, rare pediatric disease, and orphan drug designations for tralesinidase alfa in the U.S. and EU.
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