Spruce Biosciences ( (SPRB) ) has released a notification of late filing.
Spruce Biosciences, Inc. has announced a delay in filing its Form 10-K (Yearly Report) for the financial period ending December 31, 2024. The delay is primarily due to the company experiencing difficulties in completing certain required disclosures, which could not be resolved without unreasonable effort or expense. The company anticipates filing the report no later than fifteen days after the original deadline. Financially, Spruce Biosciences expects significant changes, including a 50% decrease in collaboration revenue and a high single-digit increase in loss from operations. Additionally, there is substantial doubt about the company’s ability to continue as a going concern due to a materially decreased cash balance. The notification was signed by CEO Javier Szwarcberg, M.D., MPH, who assured ongoing compliance efforts.
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Technical Sentiment Signal: Buy
Current Market Cap: $12.19M
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