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Spruce Biosciences Valuation Multiples

Spruce Biosciences is valued at $134M as of November 2026. In the last fiscal year, Spruce Biosciences EBITDA was ($40M).

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Spruce Biosciences Overview

About Spruce Biosciences

Spruce Biosciences Inc is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with unmet medical needs. The pipeline products of the company include Tralesinidase Alfa (TA-ERT), and Tildacerfont/ Cortibon, a Companion Diagnostic, developed in partnership with HMNC Brain Health.

Founded

2016

HQ

United States

Employees

21

Financials (Last FY)

Revenue: -
EBITDA: ($40M)

EV

$45M

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Spruce Biosciences Financials

Spruce Biosciences reported last fiscal year revenue of - and negative EBITDA of ($40M).

In the same fiscal year, Spruce Biosciences generated ($40M) in EBITDA losses and had net loss of ($39M).

Spruce Biosciences P&L

In the most recent fiscal year, Spruce Biosciences reported revenue of - and EBITDA of ($40M).

Spruce Biosciences is unprofitable as of last fiscal year, with EBITDA margin of - and net margin of -.

See analyst estimates for Spruce Biosciences
LTMLast FY2025202620272028
EBITDA-($40M)($40M)
Net Profit($56M)($39M)($39M)
Net Debt-($49M)-

Financial data powered by Morningstar, Inc.

Spruce Biosciences Stock Performance

Spruce Biosciences has current market cap of $134M, and enterprise value of $45M.

Market Cap Evolution

Spruce Biosciences' stock price is $46.55.

Spruce Biosciences has an EPS (earnings per share) of $-13.56.

See more trading valuation data for Spruce Biosciences
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$45M$134M0.2%---$-13.56

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Spruce Biosciences Valuation Multiples

Spruce Biosciences trades at (1.1x) EV/EBITDA.

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Spruce Biosciences Financial Valuation Multiples

As of November 8, 2026, Spruce Biosciences has market cap of $134M and EV of $45M.

Spruce Biosciences has a P/E ratio of (2.4x).

LTMLast FY2025202620272028
EV/EBITDA-(1.1x)(1.1x)
EV/EBIT(0.8x)(1.2x)(1.2x)
P/E(2.4x)(3.4x)(3.4x)
EV/FCF-(1.4x)(1.4x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Spruce Biosciences Margins & Growth Rates

Spruce Biosciences grew net profit by 52% in the last fiscal year.

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Spruce Biosciences Growth Rates

FY+1/FY25/2626/2727/2828/29
EBIT Growth62%62%
Net Profit Growth52%52%

Data powered by FactSet, Inc. and Morningstar, Inc.

Spruce Biosciences Operational KPIs

Spruce Biosciences' revenue per employee in the last FY averaged $0.0M, while opex per employee averaged $1.7M for the same period.

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Last FY202620272028
Revenue per Employee$0.0M
Opex per Employee$1.7M

Data powered by FactSet, Inc. and Morningstar, Inc.

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Spruce Biosciences Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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Spruce Biosciences VC Funding History

Before going public, Spruce Biosciences raised $108M in total equity funding, across 3 rounds.

Spruce Biosciences Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Jan-26Strategic investmentHBM Holdings--Harbour BioMed, a Hong Kong-listed antibody biopharmaceutical company, announced on 18 January 2026 that, through a wholly owned subsidiary, it had exercised a warrant to acquire common stock in Spruce Biosciences, a Nasdaq-listed company. After the exercise Harbour BioMed holds about 3.8% of Spruce's outstanding shares and about 3.1% on a fully diluted basis. The warrant was originally issued to Harbour BioMed's subsidiary and other minority shareholders of HBM Alpha Therapeutics, a biotechnology company incubated by Harbour BioMed, in connection with a license and collaboration agreement between HBM Alpha Therapeutics and Spruce. That collaboration advances SPR202, formerly HBM9013, an anti-corticotropin-releasing hormone monoclonal antibody for disorders including congenital adrenal hyperplasia. Founder, chairman and chief executive Jingsong Wang said the exercise moves the relationship beyond a traditional licensor-licensee arrangement to a truly aligned strategic partnership. The amount paid for the shares was not disclosed. Harbour BioMed's Harbour Mice platform generates fully human monoclonal antibodies, and the company develops antibody therapeutics in immunology and oncology from sites in Cambridge, Massachusetts, Rotterdam and Shanghai.
Feb-20Series BHealthCap; Novo Holdings; Sands Capital Ventures; Abingworth; RiverVest; Rock Springs Capital; Omega Funds; Surveyor Capital; Aisling Capital$88M-Spruce Biosciences, a biopharmaceutical company developing novel therapies for rare endocrine diseases, raised $88 million in an oversubscribed Series B financing round on February 20, 2020. The round was co-led by Abingworth Management and Omega Funds, with participation from other investors including Aisling Capital, HealthCap, Novo Holdings, RiverVest, Rock Springs Capital, Sands Capital Ventures, and Surveyor Capital. The financing supports the advancement of tildacerfont, their lead candidate, which showed encouraging Phase 2 results for classic congenital adrenal hyperplasia (CAH) and has potential to be the first approved treatment worldwide. The Gunderson Dettmer law firm represented Omega Funds in the transaction, with deal team led by Jeffrey Engerman. Abingworth's media page confirms the co-lead role and date. Spruce Biosciences, founded as an LLC in 2014 and converted to a Delaware corporation in 2016, focuses on endocrine disorders. The Series B extends prior funding and supports clinical development.
Jan-16Series ARiverVest; Novo Holding$20M--

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About Spruce Biosciences

When was Spruce Biosciences founded?Spruce Biosciences was founded in 2016.
Where is Spruce Biosciences headquartered?Spruce Biosciences is headquartered in United States.
How many employees does Spruce Biosciences have?As of today, Spruce Biosciences has over 21 employees.
Is Spruce Biosciences publicly listed?Yes, Spruce Biosciences is a public company listed on Nasdaq.
What is the stock symbol of Spruce Biosciences?Spruce Biosciences trades under SPRB ticker.
When did Spruce Biosciences go public?Spruce Biosciences went public in 2020.
Who are competitors of Spruce Biosciences?Spruce Biosciences main competitors include
What is the current market cap of Spruce Biosciences?Spruce Biosciences' current market cap is $134M.
Is Spruce Biosciences profitable?No, Spruce Biosciences is not profitable.
What is the current net income of Spruce Biosciences?Spruce Biosciences' last 12 months net income is ($56M).
How many companies Spruce Biosciences has acquired to date?Spruce Biosciences hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Spruce Biosciences has invested to date?Spruce Biosciences hasn't invested in any companies yet (or none have been disclosed publicly).

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