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Spruce Biosciences Priced, Nasdaq: SPRB

Phase 2 biotech developing a novel therapy for rare endocrine disorders.

Industry: Health Care

Latest Trade: $1.70 -0.04 (-2.3%)

First Day Return: +13.3%

Return from IPO: -88.4%

Industry: Health Care

We are a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need. We are initially developing our wholly-owned product candidate, tildacerfont, as the potential first non-steroidal therapy to offer markedly improved disease control and reduce steroid burden for patients suffering from classic congenital adrenal hyperplasia, or CAH. Classic CAH is a serious and life-threatening disease with no known novel therapies approved in approximately 50 years. In a 12-week Phase 2a proof-of-concept clinical trial, tildacerfont-treated patients suffering from classic CAH who had poor disease control despite being on standard of care therapy achieved approximately 80% reductions in hormones that are key indicators of poor disease control. Furthermore, 163 subjects across six clinical trials to date have been administered tildacerfont with no drug-related serious adverse events, or SAEs, reported. We have initiated a placebo-controlled, double-blind Phase 2b clinical trial in adult patients with classic CAH with poor disease control and anticipate topline results in the fourth quarter of 2021 or the first quarter of 2022.
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IPO News for Spruce Biosciences
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IPO Data
IPO File Date 09/18/2020
Offer Price $15.00
Price Range $14.00 - $16.00
Offer Shares (mm) 6.0
Deal Size ($mm) $90
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 10/08/2020
Offer Price $15.00
Price Range $14.00 - $16.00
Offer Shares (mm) 6.0
Deal Size ($mm) $90
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Daly City, CA
Founded 2014
Employees 15
Website www.sprucebiosciences.com