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Form D · on the record

SPRUCE BIOSCIENCES — $50M Form D filing, October 2025

SPRUCE BIOSCIENCES, INC. filed a Form D with the Securities and Exchange Commission on 2025-10-17.

SPRUCE BIOSCIENCES, INC. filed a Form D notice of an exempt securities offering with the SEC on October 17, 2025. The filing reports $50M sold. Its industry group is Biotechnology. It names Javier Szwarcberg (Executive Officer, Director), Bali Muralidhar (Director), Daniel Spiegelman (Director) (SEC Form D, October 17, 2025).

5 more Biotechnology raises in California, October 2025 ↓

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SPRUCE BIOSCIENCES, INC.

New Form D on file · 2025-10-17 · the record

$50M
raise on the record
D
filing
21
investors in
CALIFORNIA
based
Open the record →

What the record says

FilingForm D
Filed2025-10-17
Industry groupBiotechnology
Entity typeCorporation
Incorporated inDELAWARE
BasedSOUTH SAN FRANCISCO, CALIFORNIA
CIK1683553
Accession0001683553-25-000003

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More on the people and the money behind SPRUCE BIOSCIENCES, INC., from the filings we hold.

Raised through the same sales agent

H.C. Wainwright & Co., LLC received sales compensation on this raise and on 19 other raises we hold, nearest in date first:

Leerink Partners LLC received sales compensation on this raise and on 10 other raises we hold, nearest in date first:

More raises like this

Biotechnology raises by companies based in California, filed in October 2025, largest first.

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What the filing shows about SPRUCE BIOSCIENCES, INC.

  • 21 investors had already put money in when it filed.
  • The filing names 9 people as officers, directors or promoters.

Only in the Full Report: Who Runs It, And How To Reach Them · Warning Bells · Who Pays Them, And Who They Are Up Against.

Example from a real report (our sample on Target): “Target eliminated approximately 1,800 corporate positions, with around 1,000 employees receiving layoff notices and the remainder accounted for by eliminating open roles.” Source: NBC News

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Who the filing names, and in what role

The filing gives SPRUCE BIOSCIENCES, INC.'s address as 611 Gateway Boulevard, Suite 740, South San Francisco, CA 94080.

What the filing says

  • Offered: $49,999,768. Sold: $49,999,768. Left to sell: nothing, all of it is sold. (filing)
  • Investors: 21 had already invested. (filing)
  • Date of first sale: October 9, 2025. (filing)
  • Types of securities: Equity; Options, warrants or other rights to acquire another security; Other: Equity offering includes common stock and pre-funded warrants to purchase common stock.. (filing)
  • Item 16: the filing reports that none of the proceeds goes to executive officers, directors or promoters. It adds: “The Company shall use the net proceeds of the sale of the Securities hereunder for non-clinical and clinical development activities for its product candidate, pre-commercial activities and general corporate purposes.” (filing)

This is the company's own disclosure. A payment disclosed on a Form D is a disclosed use of proceeds, not a finding of wrongdoing.

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Is SPRUCE BIOSCIENCES, INC. a real, registered company?

SPRUCE BIOSCIENCES, INC. is a registered filer with the SEC (CIK 1683553) and has filed since 2023-02-28. 2 filings are on record, the latest on 2025-10-17.

A filing shows the company exists and what it reports about itself. It is not an audit or a rating.

Who runs SPRUCE BIOSCIENCES, INC.?

SPRUCE BIOSCIENCES, INC.'s Form D of 2025-10-17 names Javier Szwarcberg, Bali Muralidhar, Daniel Spiegelman and 6 more as its officers, directors or promoters.

How much has SPRUCE BIOSCIENCES, INC. raised?

Its new offerings report $103.62M sold across 2 offerings, as its own filings state.

Filing history · 2 filings on this registrant
Form D · 2023-02-28 · $53.62MForm D · 2025-10-17 · $50M · this page 2023-02-28 2025-10-17

Each marker is one filing. The larger marker is the filing this page is about.

Biotechnology · by week

Trailing twelve months. 766 filings in Biotechnology, totalled by week.

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What the filing shows about SPRUCE BIOSCIENCES, INC.

  • 21 investors had already put money in when it filed.
  • The filing names 9 people as officers, directors or promoters.

Only in the Full Report: Who Runs It, And How To Reach Them · Warning Bells · Who Pays Them, And Who They Are Up Against.

Example from a real report (our sample on Target): “Target eliminated approximately 1,800 corporate positions, with around 1,000 employees receiving layoff notices and the remainder accounted for by eliminating open roles.” Source: NBC News

A Full Report on SPRUCE BIOSCIENCES, INC.: verified, sourced, every claim cited, ready in a few minutes. See pricing.

What the Full Report on SPRUCE BIOSCIENCES, INC. covers

  1. The Short Answer

  2. Which Company This Is

  3. What They Do, And How The Money Works

  4. Who Runs It, And How To Reach Them

  5. The Money: Funding, Valuation, Runway

  6. Who Pays Them, And Who They Are Up Against

  7. Warning Bells

  8. Sources

    2 cited sources found

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Sourced from the filing index on sec.gov, and from the company's own site, read directly on 2026-10-30 (sprucebio.com).

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SPRUCE BIOSCIENCES, INC.: Raised $50M, Form D filed 2025-10-17
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Permanent URL: https://mentionfox.com/funding/spruce-biosciences-inc-form-d-25000001
Last updated 2026-10-30
Primary record: SEC filing 1 · SEC filing 2
SPRUCE BIOSCIENCES raised $50M — SEC Form D filing, October 2025. MentionFox, 2026-10-30. https://mentionfox.com/funding/spruce-biosciences-inc-form-d-25000001