India, March 14 -- Shares of Spruce Biosciences Inc. (SPRB) were plunging more than 77 percent in pre-market trading on Nasdaq after the late-stage biopharmaceutical company reported a wider net loss in fiscal 2023, and said its CAHmelia-203 study failed to meet targets.
The company noted that CAHmelia-203 Study of Tildacerfont in adult classic congenital adrenal hyperplasia or CAH with severe hyperandrogenemia did not meet primary efficacy endpoint.
Javier Szwarcberg, Chief Executive Officer, Spruce Biosciences, said, "CAHmelia-203 is the first study of its kind to address a difficult-to-treat CAH patient population with severe and more refractory hyperandrogenemia, which is often attributed to challenging real-life compliance with daily...