Hong Kong-based Harbour BioMed on Sunday exercised its warrant to acquire the common stock in Spruce Biosciences Inc. (NASDAQ:SPRB).
Following this transaction, Harbour BioMed holds approximately 3.8% of the total outstanding shares of Spruce and approximately 3.1% of the fully diluted shares of Spruce.
The warrant was initially issued to Harbour BioMed’s subsidiary and other minority shareholders of HBM Alpha Therapeutics (HBMAT), a biotechnology company incubated by Harbour BioMed, in connection with a license and collaboration agreement by and between HBMAT and Spruce.
The collaboration aims to advance the development of SPR202 (formerly known as HBM9013 by Harbour BioMed), a selective anti-corticotropin-releasing hormone monoclonal antibody for various disorders, including congenital adrenal hyperplasia.
In January, Spruce Biosciences secured loan funding from Avenue Capital Group for up to $50 million in growth capital.
In November 2025, Harbour BioMed announced an update and advancement of its global strategic collaboration with AstraZeneca Plc (NASDAQ:AZN), initially established in March 2025.
In December 2025, Harbour BioMed inked a multi-year, global strategic collaboration and license agreement with Bristol Myers Squibb Co (NYSE:BMY) to discover and develop next-generation multi-specific antibodies.
Harbour BioMed could receive payments totaling $90 million, as well as development and commercial milestones of up to $1.035 billion, along with tiered royalties, should Bristol Myers Squibb elect to advance all potential programs.
Benzinga Edge Ranks SPRB Momentum Weak
Below is the Benzinga Edge scorecard for Spruce Biosciences, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Weak (Score: 21/100) — The stock is underperforming relative to the broader market.
The Verdict: Spruce Biosciences’ Benzinga Edge signal reveals a stock that is currently struggling with momentum. While the positive news may provide a temporary boost, the low momentum score suggests caution for potential investors.
SPRB Price Action: Spruce Biosciences shares were unchanged 0.00% at $71.45 during premarket trading on Wednesday. The stock is trading near its 52-week low of $7.26, according to Benzinga Pro data.
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