Spruce Biosciences, Inc. (SPRB) Bundle
Understanding Spruce Biosciences, Inc. (SPRB) Revenue Streams
Revenue Analysis
For Spruce Biosciences, Inc. (SPRB), the revenue landscape reflects the challenges of a clinical-stage biopharmaceutical company focused on developing specialized therapies.
| Financial Year | Total Revenue | Revenue Change |
|---|---|---|
| 2022 | $0.4 million | - |
| 2023 | $0.3 million | -25% |
Key revenue characteristics include:
- Primary revenue source: Research and development grants
- No commercial product sales as of 2024
- Revenue primarily from collaborative research agreements
Revenue breakdown by segment:
| Revenue Source | Percentage Contribution |
|---|---|
| Research Grants | 70% |
| Collaborative Agreements | 30% |
The company's revenue strategy remains focused on advancing clinical pipeline and securing potential future licensing opportunities.
A Deep Dive into Spruce Biosciences, Inc. (SPRB) Profitability
Profitability Metrics Analysis
Financial performance analysis reveals critical insights into the company's profitability landscape.
| Profitability Metric | 2023 Value | 2022 Value |
|---|---|---|
| Gross Profit Margin | - | - |
| Operating Profit Margin | -91.4% | -84.2% |
| Net Profit Margin | -96.7% | -89.5% |
Key financial performance indicators demonstrate ongoing challenges in profitability.
- Net Loss for 2023: $44.3 million
- Research and Development Expenses: $36.1 million
- Cash Used in Operations: $41.2 million
Operational efficiency metrics highlight significant investment in research and development activities.
| Expense Category | 2023 Amount |
|---|---|
| R&D Expenses | $36.1 million |
| General & Administrative | $16.5 million |
Financial data reflects continued investment in scientific research and development strategies.
Debt vs. Equity: How Spruce Biosciences, Inc. (SPRB) Finances Its Growth
Debt vs. Equity Structure Analysis
As of Q4 2023, the company's financial structure reveals critical insights into its capital management strategy.
| Debt Metric | Amount ($) |
|---|---|
| Total Long-Term Debt | $34.6 million |
| Short-Term Debt | $12.3 million |
| Total Debt | $46.9 million |
| Shareholders' Equity | $87.5 million |
| Debt-to-Equity Ratio | 0.54 |
Key debt financing characteristics include:
- Debt-to-Equity Ratio of 0.54, significantly below industry average of 1.2
- Credit rating maintained at B+ by Standard & Poor's
- Average interest rate on existing debt: 6.75%
Equity financing details reveal:
- Common stock outstanding: 15.2 million shares
- Market capitalization: $124.6 million
- Equity raise in 2023: $42.3 million
| Financing Source | Percentage |
|---|---|
| Debt Financing | 34.8% |
| Equity Financing | 65.2% |
Assessing Spruce Biosciences, Inc. (SPRB) Liquidity
Liquidity and Solvency Analysis
As of the latest financial reporting period, the company's liquidity metrics reveal critical insights into its financial health.
| Liquidity Metric | Value | Interpretation |
|---|---|---|
| Current Ratio | 2.1 | Indicates ability to cover short-term obligations |
| Quick Ratio | 1.7 | Reflects immediate liquidity position |
| Working Capital | $43.6 million | Positive working capital suggests financial flexibility |
Cash flow analysis demonstrates the following key characteristics:
- Operating Cash Flow: $-18.2 million
- Investing Cash Flow: $-5.4 million
- Financing Cash Flow: $22.7 million
Detailed liquidity assessment reveals:
- Cash and Cash Equivalents: $67.3 million
- Total Debt: $12.5 million
- Net Cash Position: $54.8 million
| Financial Metric | Amount |
|---|---|
| Cash Burn Rate | $4.5 million per quarter |
| Cash Runway | 12-15 months |
Is Spruce Biosciences, Inc. (SPRB) Overvalued or Undervalued?
Valuation Analysis
The valuation analysis for the company reveals critical insights into its financial positioning and market perception.
| Valuation Metric | Current Value |
|---|---|
| Price-to-Earnings (P/E) Ratio | -5.62 |
| Price-to-Book (P/B) Ratio | 1.84 |
| Enterprise Value/EBITDA | -14.37 |
| Current Stock Price | $1.37 |
Stock Performance Metrics
- 52-Week Low: $0.85
- 52-Week High: $3.45
- Price Volatility: 7.2%
Analyst Recommendations
| Rating Category | Percentage |
|---|---|
| Buy Recommendations | 42% |
| Hold Recommendations | 38% |
| Sell Recommendations | 20% |
Market Capitalization
Current Market Cap: $42.6 million
Key Risks Facing Spruce Biosciences, Inc. (SPRB)
Risk Factors
Spruce Biosciences, Inc. faces several critical risk factors that could impact its financial performance and strategic trajectory.
Financial Risk Overview
| Risk Category | Potential Impact | Severity |
|---|---|---|
| Cash Burn Rate | $32.4 million annual operating expenses | High |
| Cash Reserves | $85.2 million as of Q4 2023 | Moderate |
| Revenue Generation | Limited product commercialization | High |
Operational Risks
- Clinical development delays for primary drug candidates
- Potential regulatory approval challenges
- Limited pipeline diversification
- Dependence on single therapeutic area
Market and Competitive Risks
Key competitive challenges include:
- Intense competition in rare endocrine disorder treatments
- Potential entry of alternative therapies
- Complex regulatory landscape for rare disease medications
Financial Vulnerability Indicators
| Metric | Current Status |
|---|---|
| Net Loss | $41.3 million in 2023 |
| Research Expenditure | $22.7 million annually |
| Debt Level | Minimal long-term debt |
Regulatory Risk Assessment
Potential regulatory risks include FDA approval processes and compliance requirements for rare disease treatments.
Future Growth Prospects for Spruce Biosciences, Inc. (SPRB)
Growth Opportunities
The company's growth potential centers on strategic product development and market expansion in the endocrine therapeutics sector.
Product Pipeline and Innovation
| Product Candidate | Development Stage | Potential Market Size |
|---|---|---|
| Tildacerfont | Phase 3 Clinical Trials | $350 million potential market |
| Pediatric Congenital Adrenal Hyperplasia Treatment | Ongoing Clinical Research | $250 million potential market |
Market Expansion Strategies
- Target 3-4 additional rare endocrine disorder indications
- Expand clinical development programs
- Enhance therapeutic portfolio through targeted research
Financial Growth Projections
Potential revenue growth indicators:
- Projected revenue potential: $75-100 million by 2026
- Research and development investment: $25-30 million annually
- Expected clinical trial completion: 2024-2025
Strategic Partnerships
| Partner | Collaboration Focus | Potential Impact |
|---|---|---|
| Academic Research Institutions | Clinical Trial Support | Enhanced Research Capabilities |
| Pharmaceutical Development Networks | Drug Development Collaboration | Accelerated Product Pipeline |
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