Spruce Biosciences, Inc.

Spruce Biosciences, Inc. (SPRB) priced its initial public offering on Oct 9, 2020 at $15.00 per share, within its $14.00–$16.00 range, raising $90M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $334M. Cooley advised the company and Latham & Watkins advised the underwriters.

Spruce Biosciences, Inc. is a late-stage biopharmaceutical company developing therapies for rare endocrine disorders. Its wholly owned candidate, tildacerfont, is a potential first non-steroidal therapy to improve disease control and reduce steroid use in classic congenital adrenal hyperplasia.

Status

IPO

Ticker

SPRB

Exchange

Nasdaq Global Select

Priced

Oct 9, 2020

IPO price

$15.00

Price range

$14.00–$16.00

Raised

$90M

Market cap at IPO price

$334M

First filed

Sep 18, 2020

Company counsel

Cooley

Underwriters' counsel

Latham & Watkins

Sector

Biotech & pharma

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.