SPRB — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-13

• Since inception through the date of this filing, we have raised aggregate gross proceeds of $427.1 million, including $103.5 million from our initial public offering in October 2020, $116.0 million from the sale of our redeemable convertible preferred stock, $103.6 million from private placement fin…

• We believe that based on our current operating plan, our cash and cash equivalents of $54.1 million as of March 31, 2026 and

• the net proceeds from our April 2026 underwritten public offering of common stock and pre-funded warrants will be sufficient to fund our planned operations and debt obligations for at least 12 months following the issuance date of these financial statements included elsewhere in this Quarterly Repor…

• In November 2025, the U.S. Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form S-3 (the “Shelf Registration”), covering the sale of up to $300.0 million of our securities. Also, in March 2026, we entered into an Open Market Sales AgreementSM (the “Sales Agr…

• Additionally, on April 22, 2026, we closed our previously announced underwritten public offering of 1,150,000 shares of our common stock at a public offering price of $50.00 per share and pre-funded warrants to purchase up to 50,000 shares of our common stock at a public offering price of $49.99 per…

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• Since inception through September 30, 2025, we have raised aggregate gross proceeds of $293.1 million, including $103.5 million from our initial public offering (“IPO”) in October 2020, $116.0 million from the sale of our redeemable convertible preferred stock, $5.0 million from the issuance of debt…

• Without alternative financing or proceeds from other strategic alternatives, we believe, based on our current operating plan, that our cash and cash equivalents as of September 30, 2025 will be insufficient to fund our operations and debt obligations for at least 12

• months following the issuance date of our financial statements included elsewhere in this Quarterly Report.

• advance clinical development of tildacerfont in major depressive disorder (“MDD”);

• Global economic and business activities continue to face widespread macroeconomic uncertainties, including global trade disputes, labor shortages, declines in consumer confidence, inflation and monetary supply shifts, recession risks, potential disruptions from the ongoing wars in Ukraine and the Mi…

Text added vs the prior filing · source: 10-Q · 2026-05-13

• We will need substantial additional financing to develop our product candidates and implement our operating plan. If we fail to obtain additional financing, including as a result of geopolitical uncertainty and macroeconomic events, we may be forced to delay, reduce or eliminate our product developm…

• Our operations have consumed substantial amounts of cash since our inception. We expect to continue to spend substantial amounts to continue the clinical development of, and seek regulatory approval for, TA-ERT and our other current and future product candidates. We will require significant addition…

• As of March 31, 2026, we had cash and cash equivalents of $54.1 million. In October 2020, we consummated our initial public offering and issued 92,000 shares of common stock for net proceeds of $93.4 million. In February 2023, we completed a private placement for net proceeds of $50.9 million. In Ap…

• We expect to continue to incur significant losses for the foreseeable future, and we expect these losses to increase as we continue our clinical development of, seek regulatory approvals for, and commercially launch, if approved, TA-ERT and our other current and future product candidates. We may enc…

• If we are unable to advance our product candidates in clinical development, obtain regulatory approval, and ultimately commercialize our product candidates, or experience significant delays in doing so, our business will be materially harmed.

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• We do not currently have sufficient working capital to fund our planned operations for the next twelve months and substantial doubt exists as to our ability to continue as a going concern.*

• For the nine months ended September 30, 2025, we had incurred a net loss of $24.3 million and used $26.9 million of cash in operations. As of September 30, 2025, we had an accumulated deficit of $274.6 million and cash and cash equivalents of $10.7 million. We expect to continue to generate operatin…

• The perception of our ability to continue as a going concern may make it more difficult for us to obtain financing for the continuation of our operations and could result in the loss of confidence by investors and employees. If we are not able to obtain the necessary additional financing on a timely…

• We will need substantial additional financing to develop our product candidates and implement our operating plan. If we fail to obtain additional financing, we may be forced to delay, reduce or eliminate our product development programs or commercialization efforts.*

• Our operations have consumed substantial amounts of cash since our inception. We expect to continue to spend substantial amounts to continue the clinical development of, and seek regulatory approval for, TA-ERT, tildacerfont, SPR202 and our other current and future product candidates. We will requir…

Text added vs the prior filing · source: 10-Q · 2026-05-13

• During the three months ended March 31, 2026, no director or Section 16 officer of the Company adopted, modified or terminated any "Rule 10b5-1 trading arrangement" or any "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• On November 4, 2025, we gave notice, effective as of November 7, 2025, of our termination of the Loan Agreement with SVB. The Loan Agreement, as amended, provided for a term loan facility in a principal amount of $5.0 million and was scheduled to mature on January 1, 2026. On November 3, 2025, we vo…

• During our last fiscal quarter, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.