SPRUCE BIOSCIENCES, INC.

Analysis for Ticker: SPRB

Spruce Biosciences Inc is a company that claims to develop drugs for rare hormone diseases and brain disorders but in reality it functions as a mechanical system for moving money from the public into the pockets of its own leaders. While they try to make medicines like tralesinidase alfa and tildacerfont they have zero products to sell and zero money coming in from customers. The shocking reality is that the company has burned through 289$ million since it started and it loses millions of dollars every single month. The core financial problem is simple to understand: the company is a leaky bucket that can only stay full if they keep printing and selling new pieces of themselves to unsuspecting people. If you look at the math it is a disaster because the business spends money on expensive offices and giant executive bonuses while its bank account is almost empty.