Spruce Biosciences Q2 Loss Widens; Names Adrian Quarterl CMO, Jessica Cohen VP - Clinical

(RTTNews) - Spruce Biosciences, Inc. (SPRB), reported a deeper second-quarter loss on Wednesday, as operating expenses weighed on results and net loss per share nearly doubled from a year earlier.

The company posted a net and comprehensive loss of $16.23 million or $6.68 per share, compared with loss of $2.07 million or $3.50 per share last year.

Loss from operations widened to $16.51 million from $2.69 million in the same period last year.

Spruce strengthened its management team with the appointments of Adrian Quartel as chief medical officer and Jessica Cohen Pfeffer as vice president of clinical development.

Spruce said a BLA submission for TA-ERT for the treatment of MPS IIIB is anticipated in the fourth quarter of 2026. The company added that its TrAnsform confirmatory study, required for potential FDA accelerated approval of TA-ERT, is expected to initiate in the same quarter.

On the Nasdaq, shares of Spruce Biosciences are currently gaining 1.37 percent, changing hands at $47.04.