$SPRB
SPRUCE BIOSCIENCES, INC.

2024 Q2 Form 10-Q Financial Statement

#000095017024058657 Filed on May 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $1.600M $2.000M
YoY Change -27.27% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.556M $4.318M
YoY Change 18.1% 25.12%
% of Gross Profit
Research & Development $8.090M $10.32M
YoY Change -38.37% -11.91%
% of Gross Profit
Depreciation & Amortization $12.00K $15.00K
YoY Change -33.33% -21.05%
% of Gross Profit
Operating Expenses $11.65M $14.64M
YoY Change -27.83% -3.48%
Operating Profit -$10.04M -$12.63M
YoY Change -28.17% -4.29%
Interest Expense $83.00K $97.00K
YoY Change -34.65% -25.95%
% of Operating Profit
Other Income/Expense, Net $938.0K $1.105M
YoY Change -26.43% 105.01%
Pretax Income -$9.181M -$11.63M
YoY Change -28.41% -9.12%
Income Tax
% Of Pretax Income
Net Earnings -$9.181M -$11.63M
YoY Change -28.41% -9.12%
Net Earnings / Revenue -573.81% -581.25%
Basic Earnings Per Share -$0.22 -$0.28
Diluted Earnings Per Share -$0.22 -$0.28
COMMON SHARES
Basic Shares Outstanding 41.15M 41.15M
Diluted Shares Outstanding 41.16M 41.10M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.68M $81.15M
YoY Change -42.18% -31.56%
Cash & Equivalents $69.68M $81.15M
Short-Term Investments
Other Short-Term Assets $1.531M $1.611M
YoY Change 643.2% 536.76%
Inventory
Prepaid Expenses $2.698M $3.100M
Receivables
Other Receivables
Total Short-Term Assets $73.91M $85.87M
YoY Change -40.46% -37.43%
LONG-TERM ASSETS
Property, Plant & Equipment $1.060M $1.121M
YoY Change -18.27% -17.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $547.0K $553.0K
YoY Change 2.05% 5.33%
Total Long-Term Assets $1.607M $1.674M
YoY Change -12.33% -10.86%
TOTAL ASSETS
Total Short-Term Assets $73.91M $85.87M
Total Long-Term Assets $1.607M $1.674M
Total Assets $75.52M $87.54M
YoY Change -40.05% -37.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $682.0K $1.891M
YoY Change -27.83% -45.16%
Accrued Expenses $10.68M $11.97M
YoY Change -11.76% 37.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.622M $1.622M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $14.29M $18.39M
YoY Change -37.16% -20.01%
LONG-TERM LIABILITIES
Long-Term Debt $923.0K $1.321M
YoY Change -63.18% -54.46%
Other Long-Term Liabilities $262.0K $250.0K
YoY Change 29.7% 38.12%
Total Long-Term Liabilities $1.185M $1.571M
YoY Change -56.26% -49.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.29M $18.39M
Total Long-Term Liabilities $1.185M $1.571M
Total Liabilities $16.35M $20.92M
YoY Change -44.39% -32.79%
SHAREHOLDERS EQUITY
Retained Earnings -$218.0M -$208.9M
YoY Change 24.64% 28.87%
Common Stock $277.2M $275.5M
YoY Change 2.09% 1.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.17M $66.62M
YoY Change
Total Liabilities & Shareholders Equity $75.52M $87.54M
YoY Change -40.05% -37.07%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$9.181M -$11.63M
YoY Change -28.41% -9.12%
Depreciation, Depletion And Amortization $12.00K $15.00K
YoY Change -33.33% -21.05%
Cash From Operating Activities -$11.11M -$14.96M
YoY Change -657.25% 26.87%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $405.0K
YoY Change 0.0%
Cash From Financing Activities -365.0K -227.0K
YoY Change -15.51% -100.45%
NET CHANGE
Cash From Operating Activities -11.11M -14.96M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -365.0K -227.0K
Net Change In Cash -11.47M -15.19M
YoY Change -148.69% -130.85%
FREE CASH FLOW
Cash From Operating Activities -$11.11M -$14.96M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001683553
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-39594
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
Spruce Biosciences, Inc.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
81-2154263
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
611 Gateway Boulevard
CY2024Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 740
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
South San Francisco
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94080
CY2024Q1 dei City Area Code
CityAreaCode
415
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
655-4168
CY2024Q1 dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
CY2024Q1 dei Trading Symbol
TradingSymbol
SPRB
CY2024Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2024Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
41154799
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81154000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
96339000
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3100000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3876000
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
1611000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1968000
CY2024Q1 us-gaap Assets Current
AssetsCurrent
85865000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
102183000
CY2024Q1 sprb Lease Right Of Use Asset
LeaseRightOfUseAsset
1121000
CY2023Q4 sprb Lease Right Of Use Asset
LeaseRightOfUseAsset
1181000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
553000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
582000
CY2024Q1 us-gaap Assets
Assets
87539000
CY2023Q4 us-gaap Assets
Assets
103946000
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1891000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3332000
CY2024Q1 sprb Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
11973000
CY2023Q4 sprb Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
14600000
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1622000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1622000
CY2024Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2908000
CY2023Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
4911000
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
18394000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
24465000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
950000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1019000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1321000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1717000
CY2024Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
250000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
236000
CY2024Q1 us-gaap Liabilities
Liabilities
20915000
CY2023Q4 us-gaap Liabilities
Liabilities
27437000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
41154799
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41154799
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
41029832
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41029832
CY2024Q1 us-gaap Common Stock Value
CommonStockValue
4000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
4000
CY2024Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
275477000
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
273737000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-208857000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-197232000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
66624000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
76509000
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
87539000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
103946000
CY2024Q1 us-gaap Revenues
Revenues
2002000
CY2023Q1 us-gaap Revenues
Revenues
1964000
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10317000
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11712000
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4318000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3451000
CY2024Q1 us-gaap Operating Expenses
OperatingExpenses
14635000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
15163000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-12633000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-13199000
CY2024Q1 us-gaap Interest Expense
InterestExpense
97000
CY2023Q1 us-gaap Interest Expense
InterestExpense
131000
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1105000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
539000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-11625000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-12791000
CY2024Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
370000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11625000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12421000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.4
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.4
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41096231
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41096231
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31900160
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31900160
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
76509000
CY2024Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
180000
CY2024Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-2000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1562000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-11625000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
66624000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
68486000
CY2023Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-23000
CY2023Q1 sprb Common Stock And Warrant Net Offering Costs
CommonStockAndWarrantNetOfferingCosts
2721000
CY2023Q1 sprb Stock Issued During Period Value Of Common Stock And Warrants
StockIssuedDuringPeriodValueOfCommonStockAndWarrants
50895000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1060000
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
370000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-12791000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
107997000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-11625000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-12791000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1562000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1060000
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
15000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
19000
CY2024Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
183000
CY2024Q1 sprb Non Cash Lease Expense
NonCashLeaseExpense
60000
CY2023Q1 sprb Non Cash Lease Expense
NonCashLeaseExpense
58000
CY2024Q1 sprb Loss On Disposal Of Property And Equipment
LossOnDisposalOfPropertyAndEquipment
0
CY2023Q1 sprb Loss On Disposal Of Property And Equipment
LossOnDisposalOfPropertyAndEquipment
2000
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
15000000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
191000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-664000
CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-74000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-157000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1441000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2022000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1354000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-793000
CY2024Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-2003000
CY2023Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
13036000
CY2024Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-55000
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-41000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14958000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11790000
CY2024Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
0
CY2023Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
22365000
CY2024Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0
CY2023Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
11881000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
10484000
CY2024Q1 sprb Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
0
CY2023Q1 sprb Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
53616000
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
180000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2024Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2659000
CY2024Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
405000
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
405000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
23000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-227000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
50529000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-15185000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
49223000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96374000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24732000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81189000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
73955000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81154000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
73926000
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
35000
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
29000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81189000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
73955000
CY2024Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
81200000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-11600000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
15000000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-208900000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses as well as related disclosure of contingent assets and liabilities. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, accrued research and development expenses, revenue recognition, stock-based compensation, and uncertain tax positions. The Company bases its estimates on its historical experience and on assumptions that it believes are reasonable; however, actual results could significantly differ from those estimates.</span></p>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentration of Credit Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments, which potentially subject the Company to significant concentration of credit risk, consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company is exposed to credit risk in the event of default by the financial institutions holding its cash and cash equivalents to the extent recorded in the condensed balance sheets.</span></p>
CY2024Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2024Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
0
CY2023Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
0
CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2024Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss Excluding Other Than Temporary Impairment
DebtSecuritiesAvailableForSaleRealizedGainLossExcludingOtherThanTemporaryImpairment
0
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss Excluding Other Than Temporary Impairment
DebtSecuritiesAvailableForSaleRealizedGainLossExcludingOtherThanTemporaryImpairment
0
CY2024Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
3200000
CY2023Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
3600000
CY2024Q1 sprb Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
8948000
CY2023Q4 sprb Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
10832000
CY2024Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1586000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
3101000
CY2024Q1 sprb Accrued General And Administrative Expenses
AccruedGeneralAndAdministrativeExpenses
1180000
CY2023Q4 sprb Accrued General And Administrative Expenses
AccruedGeneralAndAdministrativeExpenses
416000
CY2024Q1 sprb Lease Liability Current
LeaseLiabilityCurrent
259000
CY2023Q4 sprb Lease Liability Current
LeaseLiabilityCurrent
251000
CY2024Q1 sprb Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
11973000
CY2023Q4 sprb Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
14600000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1384000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1714000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
136000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
3234000
CY2024Q1 sprb Debt Interest
DebtInterest
260000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2974000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
31000
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1622000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1321000
CY2024Q1 sprb Potential Additional Cash Receipt
PotentialAdditionalCashReceipt
65000000
CY2024Q1 us-gaap Revenues
Revenues
2000000
CY2023Q1 us-gaap Revenues
Revenues
2000000
CY2024Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2900000
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote
CY2024Q1 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41096231
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
23352554
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
21019708
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1562000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1060000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-11625000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-12791000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41096231
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31900160
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31900160
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.4
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.4
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20701707
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19442929

Files In Submission

Name View Source Status
0000950170-24-058657-index-headers.html Edgar Link pending
0000950170-24-058657-index.html Edgar Link pending
0000950170-24-058657.txt Edgar Link pending
0000950170-24-058657-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
sprb-20240331_htm.xml Edgar Link completed
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
sprb-20240331.htm Edgar Link pending
sprb-20240331.xsd Edgar Link pending
sprb-ex31_1.htm Edgar Link pending
sprb-ex31_2.htm Edgar Link pending
sprb-ex32_1.htm Edgar Link pending
sprb-ex32_2.htm Edgar Link pending