Spruce Biosciences, Inc. (SPRB) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Spruce Biosciences, Inc. (SPRB) trades at $51.98 with AI Score 30/100 (Grade D). Spruce Biosciences, Inc. is a biopharmaceutical company focused on developing and commercializing therapies for rare endocrine disorders. Market cap: $143M, Sector: Healthcare.
Price as of Aug 20, 2026 · Last analyzed: May 10, 2026Analyst Coverage for SPRB: SPRB does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates SPRB against Healthcare peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
SPRB: 2/3 scored disciplines lean bearish. Dominant signal: Valuation weak.
How is this calculated? →Why this analysis is different
- A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
- An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
- Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.
Spruce Biosciences, Inc. (SPRB) Healthcare & Pipeline Overview
Spruce Biosciences, Inc. is a biopharmaceutical firm specializing in rare endocrine disorders, focusing on tildacerfont, a non-steroidal therapy for congenital adrenal hyperplasia (CAH) and polycystic ovary syndrome (PCOS). The company aims to enhance disease control and reduce steroid burden in affected patients, positioning itself within the niche market of endocrine therapeutics.
What Is the Investment Thesis for SPRB?
Spruce Biosciences, Inc. presents a focused investment opportunity within the rare endocrine disorder therapeutics market. The company's lead product candidate, tildacerfont, targets congenital adrenal hyperplasia (CAH) and polycystic ovary syndrome (PCOS), conditions with significant unmet medical needs. Positive Phase 2b clinical trial results for tildacerfont in adult CAH patients could serve as a major catalyst, potentially leading to accelerated regulatory pathways and increased investor confidence. The ongoing Phase 2 trials in pediatric CAH and PCOS represent additional growth opportunities, expanding the potential patient population. However, the company's reliance on a single lead product candidate and the inherent risks associated with clinical trials pose significant risks. The company's market capitalization is approximately $0.10 billion, reflecting its early-stage development profile. Successful commercialization of tildacerfont could drive substantial revenue growth, but failure to achieve clinical or regulatory milestones could negatively impact the company's valuation.
Based on FMP financials and quantitative analysis
SPRB Key Highlights
Spruce Biosciences is focused on developing therapies for rare endocrine disorders, specifically Congenital Adrenal Hyperplasia (CAH) and Polycystic Ovary Syndrome (PCOS).
- The company's lead product candidate, tildacerfont, is a non-steroidal therapy in Phase 2b clinical trials for adult CAH patients.
- Spruce Biosciences is also evaluating tildacerfont in Phase 2 trials for pediatric CAH patients and females with PCOS.
- The company has a license agreement with Eli Lilly and Company to research, develop, and commercialize compounds for various pharmaceutical uses.
- Spruce Biosciences has a market capitalization of $143M, reflecting its status as a clinical-stage biopharmaceutical company.
Who Are SPRB's Competitors?
SPRB is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| LLY Eli Lilly and Company | $1245.69 | -2.71% | $1.17T | 97 |
| ORMP Oramed Pharmaceuticals Inc. | $4.79 | +0.00% | $196M | 77 |
| JNCE Jounce Therapeutics, Inc. | $1.88 | +0.00% | $99.0M | 71 |
| ICCC ImmuCell Corporation | $10.09 | -0.39% | $91.3M | 77 |
| RLYB Rallybio Corporation | $16.60 | -2.35% | $88.1M | 81 |
| CGEN Compugen Ltd. | $2.65 | +8.61% | $251M | 76 |
| NAGE Niagen Bioscience Inc | $3.15 | -0.63% | $251M | 74 |
| ADGI Adagio Therapeutics, Inc. | $4.64 | +0.87% | $506M | 71 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are SPRB's Key Strengths?
Focus on rare endocrine disorders with high unmet needs.
- Lead product candidate, tildacerfont, in Phase 2b clinical trials.
- Experienced management team with expertise in drug development.
- License agreement with Eli Lilly and Company.
What Are SPRB's Weaknesses?
Reliance on a single lead product candidate.
- Limited financial resources compared to larger pharmaceutical companies.
- Early-stage development profile with significant clinical and regulatory risks.
- Small number of employees.
What Could Drive SPRB Stock Higher?
Announcement of Phase 2b clinical trial results for tildacerfont in adult CAH patients.
- Initiation of Phase 3 clinical trials for tildacerfont in CAH.
- Enrollment and completion of Phase 2 clinical trials for tildacerfont in pediatric CAH and PCOS.
- Potential for strategic partnerships or collaborations to accelerate development and commercialization.
What Are the Key Risks for SPRB?
Financial-distress signal — its Altman Z-Score of -0.29 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
- Clinical trial failures or delays.
- Regulatory delays or rejection of tildacerfont.
- Competition from other companies developing therapies for endocrine disorders.
- Dependence on the success of tildacerfont.
- Limited financial resources and the need for additional funding.
What Are the Growth Opportunities for SPRB?
- Expansion into Pediatric CAH Market: Spruce Biosciences has an opportunity to expand its market reach by targeting pediatric patients with CAH. The ongoing Phase 2 clinical trial evaluating tildacerfont in children with classic CAH could pave the way for regulatory approval and commercialization in this patient population. The pediatric CAH market represents a significant unmet need, with limited treatment options available. Success in this area could drive substantial revenue growth for Spruce Biosciences.
- Development of Tildacerfont for PCOS: Spruce Biosciences is exploring the potential of tildacerfont in treating females with polycystic ovary syndrome (PCOS). The ongoing Phase 2 clinical trial in PCOS aims to evaluate the efficacy and safety of tildacerfont in this patient population. PCOS is a common endocrine disorder affecting women of reproductive age, and there is a need for more effective and targeted therapies. Positive clinical trial results could lead to regulatory approval and commercialization of tildacerfont for PCOS, expanding Spruce Biosciences' market opportunity.
- Strategic Partnerships and Collaborations: Spruce Biosciences can pursue strategic partnerships and collaborations to accelerate the development and commercialization of its product candidates. Collaborating with larger pharmaceutical companies or research institutions could provide access to additional resources, expertise, and funding. These partnerships could also facilitate the expansion of Spruce Biosciences' pipeline and the exploration of new therapeutic areas.
- Expansion of Tildacerfont into Additional Endocrine Disorders: Spruce Biosciences could explore the potential of tildacerfont in treating other endocrine disorders beyond CAH and PCOS. The company's expertise in endocrine therapeutics and its understanding of the underlying mechanisms of tildacerfont could be leveraged to develop new indications for the drug. This expansion could diversify Spruce Biosciences' pipeline and reduce its reliance on a single product candidate.
- Geographic Expansion: Spruce Biosciences has the opportunity to expand its geographic reach beyond the United States. The company could pursue regulatory approvals and commercialization of tildacerfont in other countries, such as Europe and Asia. These markets represent significant growth opportunities, particularly in regions with a high prevalence of CAH and PCOS. Geographic expansion could drive increased revenue and market share for Spruce Biosciences.
What Are SPRB's Competitive Advantages?
- Intellectual property protection through patents on its therapeutic compounds.
- Clinical trial data demonstrating the safety and efficacy of its therapies.
- Regulatory exclusivity granted by regulatory agencies.
- Specialized expertise in rare endocrine disorders.
- Established relationships with key opinion leaders in the field of endocrinology.
What Does SPRB Do?
Spruce Biosciences, Inc., founded in 2014 and headquartered in Daly City, California, is a biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare endocrine disorders. The company's primary focus is on addressing unmet medical needs in congenital adrenal hyperplasia (CAH) and polycystic ovary syndrome (PCOS). Spruce Biosciences is currently advancing tildacerfont, a non-steroidal therapy, through clinical trials. Tildacerfont is designed to enhance disease control and reduce the reliance on steroids for patients with CAH. The company's clinical development program includes Phase 2b trials evaluating tildacerfont in adult patients with classic CAH, with the goal of assessing glucocorticoid reduction and clinical consequences. Additionally, Spruce Biosciences is conducting Phase 2 trials to investigate tildacerfont's efficacy in pediatric patients with classic CAH and in females with PCOS. Spruce Biosciences also has a license agreement with Eli Lilly and Company to research, develop, and commercialize compounds for various pharmaceutical uses, expanding its research and development capabilities. With a workforce of 20 employees, Spruce Biosciences is committed to transforming the treatment landscape for individuals affected by rare endocrine conditions.
What Products and Services Does SPRB Offer?
- Develops novel therapies for rare endocrine disorders.
- Focuses on congenital adrenal hyperplasia (CAH) and polycystic ovary syndrome (PCOS).
- Conducts clinical trials to evaluate the safety and efficacy of its product candidates.
- Advances tildacerfont, a non-steroidal therapy, through clinical development.
- Seeks regulatory approvals for its therapies from regulatory agencies.
- Commercializes approved therapies to address unmet medical needs.
How Does SPRB Make Money?
- Develops and patents novel therapeutic compounds.
- Conducts clinical trials to demonstrate safety and efficacy.
- Seeks regulatory approval from agencies like the FDA.
- Commercializes approved drugs, either independently or through partnerships.
- Generates revenue through sales of its pharmaceutical products.
What Industry Does SPRB Operate In?
Spruce Biosciences operates within the biotechnology industry, specifically targeting the rare endocrine disorder therapeutics market. This market is characterized by high unmet medical needs and limited treatment options, creating opportunities for companies developing innovative therapies. The competitive landscape includes established pharmaceutical companies and smaller biotech firms focusing on similar therapeutic areas. The market for CAH and PCOS treatments is expected to grow, driven by increasing awareness, improved diagnostic tools, and the development of novel therapies. Spruce Biosciences aims to capture a significant share of this market with tildacerfont, a non-steroidal therapy designed to address the underlying pathophysiology of these disorders.
Who Are SPRB's Key Customers?
- Patients with congenital adrenal hyperplasia (CAH).
- Patients with polycystic ovary syndrome (PCOS).
- Healthcare providers who treat patients with endocrine disorders.
- Hospitals and clinics that specialize in endocrinology.
- Pharmacies that dispense prescription medications.
Forward Outlook
Wall Street analysts project Spruce Biosciences, Inc. revenue of about $53.8M for fiscal 2026, with EPS near $-24.58. The estimate reflects 4 contributing analysts.
SPRB Valuation & Market Position
With a $143M market cap, Spruce Biosciences, Inc. sits in the micro-cap segment of the market. Relative to its peer group, SPRB's quantitative score of 30/100 is below the peer average of 81/100.
Key Financial Metrics
Return on assets is -49.9%, showing how much profit it generates from its asset base. Its free cash flow yield is -29.5%, a gauge of the cash the business throws off relative to its market value. A current ratio of 9.23 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -40.1%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
Spruce Biosciences, Inc.'s Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -0.29 places it in the distress zone, a signal of elevated financial risk.
Company Profile
Spruce Biosciences, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in South San Francisco, US. The company is led by CEO Javier Szwarcberg. SPRB has traded publicly since 2020.
SPRB Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Focus on rare endocrine disorders with high unmet needs.
- Lead product candidate, tildacerfont, in Phase 2b clinical trials.
- Experienced management team with expertise in drug development.
- License agreement with Eli Lilly and Company.
Bear Case
- Reliance on a single lead product candidate.
- Limited financial resources compared to larger pharmaceutical companies.
- Early-stage development profile with significant clinical and regulatory risks.
- Small number of employees.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · August 2026
SPRB Latest News
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Stocks That Hit 52-Week Lows On Tuesday
benzinga · Oct 11, 2022
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benzinga · May 6, 2022
SPRB Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for SPRB.
Price Targets
Wall Street price target analysis for SPRB.
SPRB MoonshotScore
What does this score mean?
The MoonshotScore rates SPRB 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
Leadership: Michael G. Grey
CEO
Michael G. Grey serves as the Chief Executive Officer of Spruce Biosciences, Inc. His background includes extensive experience in the biopharmaceutical industry, with a focus on corporate strategy, business development, and commercialization. Prior to joining Spruce Biosciences, he held leadership positions at various biotechnology companies, where he was responsible for driving growth and innovation. His expertise spans across multiple therapeutic areas, including endocrinology and metabolic disorders. He is responsible for managing the company's 20 employees.
Track Record: Under Michael Grey's leadership, Spruce Biosciences has advanced tildacerfont through multiple clinical trials, demonstrating its commitment to developing novel therapies for rare endocrine disorders. He has overseen the expansion of the company's pipeline and the establishment of strategic partnerships. He has also guided the company through significant financing rounds, securing the capital needed to support its clinical development programs.
What Investors Ask About Spruce Biosciences, Inc. (SPRB) — Healthcare
What does the AI Score mean for SPRB?
SPRB holds an AI Score of 30/100 (Grade: D). This is an educational research signal, not a buy or sell recommendation. Spruce Biosciences, Inc. is a biopharmaceutical company focused on developing and commercializing therapies for rare endocrine disorders. Their lead product candidate, tildacerfont, is being …
What does Spruce Biosciences, Inc. do?
Spruce Biosciences, Inc. is a biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders. The company's lead product candidate, tildacerfont, is a non-steroidal therapy being developed for congenital adrenal hyperplasia (CAH) and polycystic ovary syndrome (PCOS). Spruce Biosciences aims to address the unmet medical needs of patients with these conditions by providing innovative treatment options that enhance disease control and reduce the reliance on steroids.
What do analysts say about SPRB stock?
Analyst coverage of Spruce Biosciences, Inc. (SPRB) is limited, reflecting its status as a clinical-stage biopharmaceutical company. However, analysts generally view the company's focus on rare endocrine disorders as a positive factor, given the high unmet medical needs in these areas.
What are the main risks for SPRB?
The main risks for Spruce Biosciences, Inc. include clinical trial failures, regulatory delays or rejection, competition from other companies developing therapies for endocrine disorders, and dependence on the success of tildacerfont. The company's limited financial resources and the need for additional funding also pose risks. Furthermore, the inherent uncertainties associated with drug development and the biopharmaceutical industry could negatively impact Spruce Biosciences' prospects.
How does Spruce Biosciences, Inc. navigate regulatory approval processes?
Spruce Biosciences, Inc. navigates regulatory approval processes by adhering to strict clinical trial protocols and maintaining open communication with regulatory agencies such as the FDA. The company's regulatory strategy involves conducting well-designed clinical trials to demonstrate the safety and efficacy of tildacerfont, submitting comprehensive regulatory filings, and responding promptly to any requests from regulatory agencies.
How does Spruce Biosciences, Inc. manage patent expiration risks?
Spruce Biosciences, Inc. manages patent expiration risks by actively pursuing intellectual property protection for its therapeutic compounds and technologies. The company seeks to obtain patents covering the composition of matter, methods of use, and formulations of its product candidates. Spruce Biosciences also employs lifecycle management strategies to extend the exclusivity of its products, such as developing new formulations or indications.
What are the key factors to evaluate for SPRB?
Spruce Biosciences, Inc. (SPRB) holds an AI score of 30/100 (low). presents a focused investment opportunity within the rare endocrine disorder therapeutics market. Not financial advice.
How frequently does SPRB data refresh on this page?
SPRB's price was last updated on Aug 20, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven SPRB's recent stock price performance?
Spruce Biosciences, Inc. (SPRB) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Focus on rare endocrine disorders with high unmet needs. See the News tab for the latest drivers. Past performance does not predict future results.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on publicly available sources and may be subject to change.
- This is not financial advice. Conduct your own due diligence.