Spruce Biosciences — Third Quarter 2026 Earnings Summary

Spruce Biosciences reported a net loss of $24.0 million for the third quarter of 2026, driven by increased research and development expenses to advance its tralesinidase alfa enzyme replacement therapy (TA-ERT) program. The company remains on track to submit a Biologics License Application for TA-ERT in December 2026 to treat MPS IIIB, while simultaneously initiating a confirmatory study and an expanded access program. Financially, Spruce strengthened its balance sheet by amending its Avenue Loan Agreement to increase Tranche 2 availability to $15 million and extending the interest-only period through March 2027. Additionally, the company separated its CRHX-101 program into a new subsidiary, Adrenyx Biosciences, to allow for independent capital structures and strategic focus.