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Spruce Biosciences Inc. (SPRB) stock has tumbled to a 52-week low, touching down at $0.32. With a market capitalization of just $13.22 million and a beta of 2.34 indicating high volatility, the stock has caught the attention of risk-tolerant investors. According to InvestingPro data, analyst price targets range from $1.00 to $3.00, suggesting potential upside despite current challenges. This latest price point marks a significant downturn for the company, which has seen its stock value contract by 54.29% over the past year. Investors have been closely monitoring Spruce Biosciences as it navigates through a challenging period, with market sentiment reflecting the hurdles the company faces. The 52-week low serves as a critical indicator of the stock’s current volatility and the pressures that have been weighing on its market performance. While the company maintains a strong current ratio of 5.36, InvestingPro analysis reveals both challenges and opportunities, with 12 additional key insights available to subscribers through their comprehensive Pro Research Report.
In other recent news, Spruce Biosciences, Inc. announced a leadership change with the departure of its Chief Medical (TASE:BLWV) Officer, Dr. Ralph William Charlton III, effective December 31, 2024. Dr. Charlton will receive severance benefits, including a lump sum payment of $343,200 and nine months of COBRA coverage, contingent on a release of claims. To fill the vacancy, Spruce Biosciences has appointed Dr. Kirk Ways as the interim Chief Medical Officer. Dr. Ways, who has been a member of the company’s Board of Directors since June 2021, brings extensive experience from his previous roles. His background includes serving as interim Chief Medical Officer of MBX Biosciences and Chief Medical Officer of Nuvelution Pharma, Inc. Additionally, Dr. Ways has an academic history as Director of the Diabetes Center and Vice Chairman for the Department of Internal Medicine at East Carolina School of Medicine. His academic work has resulted in over one hundred publications in the fields of diabetes and cancer. These developments were disclosed in a press release filed with the Securities and Exchange Commission.
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