Spruce Biosciences Shares Hit 52-Week High After FDA Breakthrough Therapy Designation
By Josh Beckerman
Spruce Biosciences shares reached a 52-week high after a drug update and favorable comments on X by Martin Shkreli.
Spruce said the Food and Drug Administration granted Breakthrough Therapy Designation for tralesinidase alfa enzyme replacement therapy for treatment of Sanfilippo Syndrome Type B.
The stock was up more than 16-fold to $148.50 after several volatility pauses. Volume was nearly 23 million shares, compared with a 30-day average of 15,829.
The company said its planned biologics license application submission remains on track for the first quarter of 2026.
Following the company news, Shkreli said in an X post that he is "long $SPRB."
Spruce shares were suspended from Nasdaq in late April due to non-compliance with the exchange's $1 bid price requirement. The company implemented a 1-for-75 reverse stock split in August, and resumed Nasdaq trading in September.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 06, 2025 15:00 ET (19:00 GMT)
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