Spruce Biosciences Appoints Keli Walbert to Board, Aiming for TA-ERT Launch
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 15 2025
0mins
Should l Buy SPRB?
Source: Newsfilter
- Leadership Enhancement: Spruce Biosciences has appointed Keli Walbert to its Board of Directors, bringing over 20 years of experience in rare disease drug launches, which will provide strategic support as the company prepares for the upcoming Biologics License Application for TA-ERT.
- Market Readiness Acceleration: Walbert's appointment comes at a crucial time as the company gears up to submit the BLA for TA-ERT, which is anticipated to be the first disease-modifying therapy for MPS IIIB, addressing the urgent market need for effective treatments.
- Commercial Strategy Optimization: Having served as Executive Vice President of U.S. Commercial at Horizon Therapeutics, where she oversaw commercial strategies for over 10 brands, Walbert's expertise is expected to enhance Spruce's market penetration in the rare disease sector.
- Industry Recognition Boost: Walbert has received numerous accolades, including the Luminary Award from the Healthcare Businesswomen's Association, further enhancing Spruce's reputation and attractiveness within the biopharmaceutical industry.
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Analyst Views on SPRB
Wall Street analysts forecast SPRB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPRB is 230.50 USD with a low forecast of 160.00 USD and a high forecast of 283.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 70.850
Low
160.00
Averages
230.50
High
283.00
Current: 70.850
Low
160.00
Averages
230.50
High
283.00
About SPRB
Spruce Biosciences, Inc. is a late-stage biopharmaceutical company focused on developing and commercializing therapies for neurological disorders with significant unmet medical need. The Company has acquired an exclusive worldwide license agreement for tralesinidase alfa enzyme replacement therapy (TA-ERT) for the treatment of Sanfilippo Syndrome Type B (MPS IIIB). The TA-ERT is a fusion protein comprised of recombinant human alpha-N-acetylglucosaminidase (rhNAGLU) with modified human insulin-like growth factor 2 via an amino acid linker. TA-ERT is intended as an enzyme replacement therapy for the treatment of patients with MPS IIIB who lack rhNAGLU enzyme activity. The Company's pipeline also includes Tildacerfont and Cortibon for the treatment of Major Depressive Disorder, SPR202 for the treatment of Congenital Adrenal Hyperplasia and SPR204 for the treatment of Post-Bariatric Hypoglycemia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Harbour BioMed Exercises Warrant to Acquire 3.8% of Spruce Biosciences Inc.
- Share Acquisition: Harbour BioMed exercised its warrant to acquire approximately 3.8% of Spruce Biosciences' outstanding shares, enhancing its market position in biotechnology and demonstrating confidence in Spruce's future development.
- Strategic Collaboration: This transaction stems from a licensing and collaboration agreement with Spruce aimed at advancing the development of SPR202, a monoclonal antibody for various disorders, which could yield long-term benefits for Harbour.
- Funding Background: In January, Spruce Biosciences secured up to $50 million in loan funding, indicating its liquidity and growth potential in the market, which may support Harbour's investment.
- Market Performance: Despite Harbour's acquisition signaling positive prospects, Spruce's momentum score of only 21/100 indicates weak stock performance in the market, suggesting that investors should assess risks carefully.
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Harbour BioMed Acquires 3.8% Stake in Spruce Biosciences (SPRB)
- Equity Acquisition: Harbour BioMed has exercised its warrant through its wholly-owned subsidiary to acquire approximately 3.8% of Spruce Biosciences' outstanding shares, enhancing its investment position in the biotechnology sector.
- Shareholding Structure Change: This transaction results in Harbour BioMed holding about 3.1% of Spruce's fully diluted shares, further solidifying its influence in collaborative projects.
- Collaboration Agreement Background: The warrant issuance stems from a licensing and collaboration agreement between Harbour BioMed and Spruce, aimed at advancing the development of SPR202, a monoclonal antibody targeting various disorders.
- R&D Strategic Significance: This equity acquisition not only deepens Harbour BioMed's partnership with Spruce but also provides stronger financial backing for the clinical development of SPR202, enhancing its competitive edge in the market.
See More
Harbour BioMed Acquires 3.8% Stake in Spruce Biosciences
- Strategic Partnership Upgrade: Harbour BioMed exercised its warrant through a wholly-owned subsidiary to acquire approximately 3.8% of Spruce Biosciences, marking a shift from a traditional licensing relationship to a strategic partnership aimed at accelerating the development of transformative therapies.
- Equity Structure Change: Following this transaction, Harbour BioMed holds about 3.8% of Spruce's outstanding shares and 3.1% of fully diluted shares, enhancing its influence over Spruce and facilitating collaborative projects between the two companies.
- R&D Collaboration Prospects: This acquisition aligns with the collaboration to advance the development of SPR202, a monoclonal antibody targeting various disorders, showcasing Harbour BioMed's R&D potential in immunology and oncology.
- Technological Platform Advantage: Harbour BioMed's proprietary antibody technology platform, Harbour Mice®, and HBICE® technology provide a competitive edge in antibody discovery and development, enabling tumor-killing effects that traditional therapies cannot achieve.
See More
Harbour BioMed Acquires 3.8% of Spruce Biosciences, Enhancing Strategic Partnership
- Share Acquisition: Harbour BioMed exercised its warrant through a wholly-owned subsidiary to acquire approximately 3.8% of Spruce Biosciences' outstanding shares, further solidifying its market position in the biopharmaceutical sector.
- Strategic Partnership Upgrade: This transaction marks a shift in the relationship between Harbour BioMed and Spruce from a traditional licensor-licensee model to a true strategic partnership aimed at accelerating the development of transformative therapies for patients worldwide.
- R&D Collaboration: The acquisition is linked to a licensing and collaboration agreement with HBM Alpha Therapeutics, focusing on advancing the development of SPR202, a monoclonal antibody with significant clinical potential for various disorders.
- Technological Platform Advantage: Harbour BioMed leverages its proprietary antibody technology platform, Harbour Mice®, along with HBICE® and HBICATM technologies, to build a highly efficient antibody discovery engine that drives the development of next-generation therapeutic antibodies.
See More
Spruce Biosciences Secures $15 Million Loan to Support MPS IIIB Treatment Development
- Financing Agreement Established: On January 7, 2026, Spruce Biosciences entered into a loan agreement with Avenue Capital for an initial $15 million, expected to be fully funded by January 9, extending the company's cash runway into 2027 to support its biologics license application for MPS IIIB treatment.
- Clear Funding Purpose: The loan will accelerate the development and pre-launch activities of TA-ERT, which has the potential to be the first disease-modifying therapy for MPS IIIB, addressing a significant unmet medical need in a market lacking FDA-approved treatments.
- Financial Status Update: As of December 31, 2025, Spruce reported approximately $48.9 million in cash and cash equivalents, a preliminary figure that, while unaudited, provides a crucial financial foundation for the company's future operations.
- Strategic Partnership: Chad Norman, Senior Portfolio Manager at Avenue Capital, emphasized Spruce's strong positioning in the MPS IIIB treatment space, indicating that their collaboration will advance this promising therapy, reflecting a commitment to patients and families affected by the disease.
See More
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- Spruce Biosciences Positive Outlook: Oppenheimer analyst Leland Gershell initiated coverage on Spruce Biosciences, Inc. (NASDAQ:SPRB) with an Outperform rating and a price target of $283, compared to its closing price of $82.82 on Monday, indicating a potential upside of over 240%, reflecting strong market confidence in its product pipeline.
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Harbour BioMed Exercises Warrant to Acquire 3.8% of Spruce Biosciences Inc.
- Share Acquisition: Harbour BioMed exercised its warrant to acquire approximately 3.8% of Spruce Biosciences' outstanding shares, enhancing its market position in biotechnology and demonstrating confidence in Spruce's future development.
- Strategic Collaboration: This transaction stems from a licensing and collaboration agreement with Spruce aimed at advancing the development of SPR202, a monoclonal antibody for various disorders, which could yield long-term benefits for Harbour.
- Funding Background: In January, Spruce Biosciences secured up to $50 million in loan funding, indicating its liquidity and growth potential in the market, which may support Harbour's investment.
- Market Performance: Despite Harbour's acquisition signaling positive prospects, Spruce's momentum score of only 21/100 indicates weak stock performance in the market, suggesting that investors should assess risks carefully.
See More
Harbour BioMed Acquires 3.8% Stake in Spruce Biosciences (SPRB)
- Equity Acquisition: Harbour BioMed has exercised its warrant through its wholly-owned subsidiary to acquire approximately 3.8% of Spruce Biosciences' outstanding shares, enhancing its investment position in the biotechnology sector.
- Shareholding Structure Change: This transaction results in Harbour BioMed holding about 3.1% of Spruce's fully diluted shares, further solidifying its influence in collaborative projects.
- Collaboration Agreement Background: The warrant issuance stems from a licensing and collaboration agreement between Harbour BioMed and Spruce, aimed at advancing the development of SPR202, a monoclonal antibody targeting various disorders.
- R&D Strategic Significance: This equity acquisition not only deepens Harbour BioMed's partnership with Spruce but also provides stronger financial backing for the clinical development of SPR202, enhancing its competitive edge in the market.
See More
Harbour BioMed Acquires 3.8% Stake in Spruce Biosciences
- Strategic Partnership Upgrade: Harbour BioMed exercised its warrant through a wholly-owned subsidiary to acquire approximately 3.8% of Spruce Biosciences, marking a shift from a traditional licensing relationship to a strategic partnership aimed at accelerating the development of transformative therapies.
- Equity Structure Change: Following this transaction, Harbour BioMed holds about 3.8% of Spruce's outstanding shares and 3.1% of fully diluted shares, enhancing its influence over Spruce and facilitating collaborative projects between the two companies.
- R&D Collaboration Prospects: This acquisition aligns with the collaboration to advance the development of SPR202, a monoclonal antibody targeting various disorders, showcasing Harbour BioMed's R&D potential in immunology and oncology.
- Technological Platform Advantage: Harbour BioMed's proprietary antibody technology platform, Harbour Mice®, and HBICE® technology provide a competitive edge in antibody discovery and development, enabling tumor-killing effects that traditional therapies cannot achieve.
See More
Harbour BioMed Acquires 3.8% of Spruce Biosciences, Enhancing Strategic Partnership
- Share Acquisition: Harbour BioMed exercised its warrant through a wholly-owned subsidiary to acquire approximately 3.8% of Spruce Biosciences' outstanding shares, further solidifying its market position in the biopharmaceutical sector.
- Strategic Partnership Upgrade: This transaction marks a shift in the relationship between Harbour BioMed and Spruce from a traditional licensor-licensee model to a true strategic partnership aimed at accelerating the development of transformative therapies for patients worldwide.
- R&D Collaboration: The acquisition is linked to a licensing and collaboration agreement with HBM Alpha Therapeutics, focusing on advancing the development of SPR202, a monoclonal antibody with significant clinical potential for various disorders.
- Technological Platform Advantage: Harbour BioMed leverages its proprietary antibody technology platform, Harbour Mice®, along with HBICE® and HBICATM technologies, to build a highly efficient antibody discovery engine that drives the development of next-generation therapeutic antibodies.
See More
Spruce Biosciences Secures $15 Million Loan to Support MPS IIIB Treatment Development
- Financing Agreement Established: On January 7, 2026, Spruce Biosciences entered into a loan agreement with Avenue Capital for an initial $15 million, expected to be fully funded by January 9, extending the company's cash runway into 2027 to support its biologics license application for MPS IIIB treatment.
- Clear Funding Purpose: The loan will accelerate the development and pre-launch activities of TA-ERT, which has the potential to be the first disease-modifying therapy for MPS IIIB, addressing a significant unmet medical need in a market lacking FDA-approved treatments.
- Financial Status Update: As of December 31, 2025, Spruce reported approximately $48.9 million in cash and cash equivalents, a preliminary figure that, while unaudited, provides a crucial financial foundation for the company's future operations.
- Strategic Partnership: Chad Norman, Senior Portfolio Manager at Avenue Capital, emphasized Spruce's strong positioning in the MPS IIIB treatment space, indicating that their collaboration will advance this promising therapy, reflecting a commitment to patients and families affected by the disease.
See More
Cellectis SA Receives Buy Rating with $9 Price Target from Clear Street
- Analyst Rating Change: Clear Street analyst Bill Maughan initiated coverage on Cellectis SA (NASDAQ:CLLS) with a Buy rating and a price target of $9, representing a potential upside of 91% from its closing price of $4.69 on Monday, indicating optimistic market expectations for its future growth.
- Levi Strauss Rating Upgrade: Raymond James analyst Rick Patel initiated coverage on Levi Strauss & Co. (NYSE:LEVI) with an Outperform rating and a price target of $26, while the stock closed at $21.23, suggesting analysts' confidence in its future performance, which may attract more investor interest.
- Spruce Biosciences Positive Outlook: Oppenheimer analyst Leland Gershell initiated coverage on Spruce Biosciences, Inc. (NASDAQ:SPRB) with an Outperform rating and a price target of $283, compared to its closing price of $82.82 on Monday, indicating a potential upside of over 240%, reflecting strong market confidence in its product pipeline.
- Septerna, Inc. Buy Rating: Jones Trading analyst Catherine Novack initiated coverage on Septerna, Inc. (NASDAQ:SEPN) with a Buy rating and a price target of $43, while the stock closed at $29.47, indicating an upside of approximately 46%, which may attract investors seeking growth opportunities.
See More
