Levi & Korsinsky notifies investors that it has commenced an investigation into Spruce Biosciences, Inc. (NASDAQ: SPRB) concerning potential violations of the federal securities laws.
Spruce is the subject of a Seeking Alpha report published on March 13, 2024. According to the report, the Company's "stock plunged 75% in post-market trading Tuesday on news that the company plans to cut 21% of its workforce in the wake of a failed Phase 2 study for its drug candidate tildacerfont." The report continues, "The biotech company said the study, called CAHmelia-203, failed to meet its primary endpoint and was being terminated as a result. The study had been evaluating tildacerfont in the treatment of adult classic congenital adrenal hyperplasia, or CAH, with severe hyperandrogenemia." The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your Spruce Biosciences securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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