43 /100
MEDIUM RISK
Score updated Apr 13, 2026

SPRB

Spruce Biosciences, Inc. — Stock Dilution Tracker

Track SPRB dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

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📊 Score Breakdown
📋 Offering Ability
60
💰 Cash Runway
10
📊 Float Risk
35
⚠️ Warrant Exposure
15
🔄Convertible Debt
🌦️ Dilution Forecast
☀️
Clear
No significant dilution signals
9%
💰 Capital Raise 18%
• Active ATM program with $75M remaining capacity
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💹 Market Data
Market Cap$87.30M
Shares Outstanding1.37M
Float908.8K
Cash$48.91M
Debt$736.0K
Short InterestN/A
🏛 Institutional Holdings
QoQ: ↓ 72.4% shares (2025Q4 vs prior)
32 institutional holders · 811.9K shares
#1 Ikarian Capital, LLC 121.4K shares
#2 ADAR1 Capital Management, LLC 116.0K shares
#3 Squadron Capital Management LLC 70.0K shares
+ 17 more holders Sign up free to view →
📉 Short Interest
Short Interest170.8K
Days to Cover4.7
% of Float18.8%
FINRA data as of Mar 31, 2026
📁 Recent SEC Activity
xbrl XBRL WARRANT Dec 31, 2025
3 FORM3 Mar 09, 2026
8-K 8K EVENT Mar 09, 2026
4 INSIDER TRANSACTION Mar 09, 2026
424B5 ATM Mar 09, 2026
Full SEC filing analysis available with free account
📰 Recent News
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