Spruce Biosciences is a late-stage biopharmaceutical company developing novel therapies for neurological disorders with significant unmet medical need. The company's pipeline focuses primarily on enzyme replacement therapy for rare metabolic neurological diseases, with a lead candidate in advanced development, along with earlier-stage programs in other neurological conditions. Rather than generating revenue from product sales, the company derives funding through collaboration and licensing agreements with pharmaceutical partners, who receive exclusive rights to develop and commercialize certain compounds in specific therapeutic areas and geographies in exchange for upfront payments, milestone-based payments upon achievement of clinical and regulatory objectives, and royalties on future net sales.