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Spruce Biosciences Inc (SPRB) stock has hit a 52-week low, dropping to $0.18, as the company faces ongoing market headwinds. According to InvestingPro data, despite the company’s strong liquidity position with a current ratio of 5.36, the stock has shown significant volatility. This new low comes as a significant downturn for the biopharmaceutical company, which has seen its shares decline by -55.1% over the past year. While the stock appears undervalued based on InvestingPro’s Fair Value analysis, investors are closely monitoring Spruce Biosciences as it navigates through a challenging period. Notably, analyst price targets range from $1 to $3, suggesting potential upside, though the company faces challenges with rapid cash burn and negative profit margins. For deeper insights into SPRB’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Spruce Biosciences has announced a strategic acquisition of tralesinidase alfa (TA-ERT), an enzyme replacement therapy aimed at treating Sanfilippo Syndrome Type B, a rare neurodegenerative disorder. The company plans to submit a Biologics License Application to the U.S. FDA by the first half of 2026, with the FDA recognizing a key biomarker that could expedite approval. In a related development, Spruce Biosciences has also filed a Notification of Late Filing with the SEC for its Annual Report for the fiscal year ending December 31, 2024, citing preliminary estimates of financial results yet to be finalized. The company has assured investors that the complete and audited financial statements will be available once the Annual Report is filed. Spruce Biosciences reported cash and cash equivalents of $38.8 million as of December 31, 2024, with an expected cash runway through the end of 2025. The company has received fast-track, rare pediatric disease, and orphan drug designations for TA-ERT in the U.S. and EU. These developments underscore Spruce Biosciences’ commitment to addressing unmet medical needs within neurological disorders.
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