Estados financieros detallados de Spruce Biosciences, Inc. (SPRB): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $54.16, SPRB presenta beneficios negativos (P/E no significativo) y un ROE del -123.53%. La capitalización bursátil es de $149M.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | $10.1M | $4.9M | 0 |
| Coste de Ventas | $1000 | $12000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$1000 | -$12000 | 0 | 0 | 0 | $10.1M | $4.9M | 0 |
| I+D | $8.4M | $10.8M | $23.9M | $30.7M | $35.2M | $49.4M | $46.4M | $19.5M |
| Generales y Administrativos | $1.6M | $2.3M | $5.6M | $11.4M | $12.1M | $12.7M | $14.6M | $17.0M |
| Gastos Operativos | $10.0M | $13.1M | $29.4M | $42.1M | $47.3M | $62.1M | $61.1M | $36.5M |
| Beneficio Operativo | -$10.0M | -$13.1M | -$29.4M | -$42.1M | -$47.3M | -$52.0M | -$56.2M | -$36.5M |
| EBITDA | -$10.0M | -$13.0M | -$29.4M | -$41.9M | -$45.7M | -$47.4M | -$52.7M | -$38.9M |
| Gastos por Intereses | 0 | $65000 | $323000 | $345000 | $420000 | $483000 | $307000 | $90000 |
| Beneficio Antes de Impuestos | -$9.9M | -$13.1M | -$29.5M | -$42.3M | -$46.2M | -$47.9M | -$53.0M | -$39.0M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$9.9M | -$13.2M | -$29.5M | -$42.3M | -$46.2M | -$47.9M | -$53.0M | -$39.0M |
| BPA | $-483.75 | $-22.50 | $-48.75 | $-68.25 | $-72.00 | $-93.00 | $-96.75 | $-50.83 |
| BPA Diluido | $-483.75 | $-22.50 | $-48.75 | $-68.25 | $-72.00 | $-93.00 | $-96.75 | $-50.83 |
| Acciones en Circulación (Diluidas) | $19875 | $578853 | $604770 | $607397 | $611705 | $500633 | $536444 | $766598 |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | 0 | 0 | 0 |
| Beneficio Operativo | -$8.2M | -$11.1M | -$12.0M | -$16.5M |
| EBITDA | -$8.2M | -$14.6M | -$11.3M | -$14.5M |
| Beneficio Neto | -$8.2M | -$14.6M | -$12.3M | -$16.2M |
| BPA | $-14.58 | $-10.67 | $-8.94 | $-6.68 |
| BPA Diluido | $-14.58 | $-10.67 | $-8.94 | $-6.68 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $4.1M | $3.9M | $157.2M | $42.7M | $24.5M | $96.3M | $38.8M | $48.9M |
| Inversiones a Corto | 0 | 0 | 0 | $46.2M | $54.6M | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $4.8M | $4.7M | $160.4M | $91.9M | $83.6M | $102.2M | $44.2M | $52.1M |
| Inmovilizado Material | 0 | 0 | $1.9M | $1.5M | $1.4M | $1.2M | $934000 | $666000 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $4.8M | $4.7M | $162.9M | $126.5M | $85.6M | $103.9M | $45.2M | $53.0M |
| Cuentas por Pagar | $2.3M | $1.9M | $3.6M | $2.8M | $1.4M | $3.3M | $1.3M | $943000 |
| Deuda a Corto | 0 | $1.3M | $2.6M | 0 | $1.6M | $1.6M | $1.6M | 0 |
| Pasivos Corrientes | $2.7M | $4.3M | $9.8M | $8.9M | $12.4M | $24.5M | $15.2M | $10.1M |
| Deuda a Largo | 0 | $3.2M | $1.9M | $4.9M | $3.3M | $1.7M | $124000 | 0 |
| Pasivos Totales | $22.6M | $35.3M | $13.5M | $15.1M | $17.2M | $27.4M | $16.4M | $10.5M |
| Reservas | -$18.2M | -$31.3M | -$60.8M | -$103.1M | -$149.3M | -$197.2M | -$250.3M | -$289.2M |
| Patrimonio Neto | -$17.8M | -$30.6M | $149.4M | $111.4M | $68.5M | $76.5M | $28.8M | $42.5M |
| Deuda Total | 0 | $4.4M | $6.4M | $6.5M | $6.3M | $4.6M | $2.8M | $736000 |
| Deuda Neta | -$4.1M | $521000 | -$150.8M | -$82.4M | -$72.8M | -$91.7M | -$36.0M | -$48.2M |
| Capital Circulante | $2.1M | $349000 | $150.6M | $83.0M | $71.2M | $77.7M | $29.0M | $42.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $10.7M | $48.9M | $54.1M | $96.3M |
| Activos Totales | $15.3M | $53.0M | $56.2M | $102.9M |
| Pasivos Totales | $9.9M | $10.5M | $21.5M | $19.1M |
| Patrimonio Neto | $5.4M | $42.5M | $34.6M | $83.7M |
| Deuda Total | $1.3M | $736000 | $7.1M | $7.7M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$9.9M | -$13.1M | -$29.5M | -$42.3M | -$46.2M | -$47.9M | -$53.0M | -$39.0M |
| Amortizaciones | $1000 | $12000 | $36000 | $68000 | $74000 | $70000 | $46000 | $21000 |
| Compensación en Acciones | $101000 | $196000 | $755000 | $4.0M | $3.6M | $4.6M | $5.3M | $2.6M |
| Cambio en Capital Circulante | $1.2M | $263000 | $1.2M | $2.0M | $1.1M | $10.4M | -$8.6M | -$724000 |
| Flujo de Caja Operativo | -$8.6M | -$12.6M | -$27.5M | -$35.9M | -$41.7M | -$33.3M | -$56.0M | -$33.3M |
| Inversiones (CapEx) | 0 | -$4000 | -$74000 | -$93000 | -$8000 | -$7000 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$8.6M | -$12.6M | -$27.6M | -$36.0M | -$41.7M | -$33.3M | -$56.0M | -$33.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$5.3M | -$6.5M | -$8.7M | -$22.1M |
| Inversiones (CapEx) | 0 | 0 | -$10000 | -$135000 |
| Flujo de Caja Libre | -$5.3M | -$6.5M | -$8.7M | -$22.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $415000 | $1.7M | $689000 | $871000 |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | | | -51.3% | -100.0% |
| Crecimiento Beneficio Neto (anual) | | -34.3% | -123.2% | -43.2% | -9.2% | -3.8% | -10.7% | +26.5% |
| Crecimiento BPA (anual) | | +95.3% | -116.7% | -40.0% | -5.5% | -29.2% | -4.0% | +47.5% |
| Cambio en Acciones (anual) | | +2812.5% | +4.5% | +0.4% | +0.7% | -18.2% | +7.2% | +42.9% |
| Crecimiento FCF (anual) | | -47.3% | -118.6% | -30.4% | -15.9% | +20.2% | -68.2% | +40.4% |
| Margen Bruto | | | | | | 100.0% | 100.0% | |
| Margen Operativo | | | | | | -515.3% | -1143.4% | |
| Margen EBITDA | | | | | | -469.5% | -1072.8% | |
| Margen Neto | | | | | | -475.0% | -1079.9% | |
| Margen FCF | | | | | | -329.9% | -1139.6% | |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-431.20 | $-21.80 | $-45.63 | $-59.22 | $-68.16 | $-66.48 | $-104.32 | $-43.47 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $19875 | $578853 | $604770 | $607397 | $611705 | $500633 | $536444 | $766598 |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -123.53% |
| Rentabilidad sobre capital invertido | -50.49% |
| Rentabilidad sobre activos | -49.93% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.09 |
| Ratio corriente | 9.23 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -2.64 | -56.67 | -37.40 | -4.90 | -1.14 | -2.36 | -0.33 | -1.71 |
| P/VC | -1.42 | -24.09 | 7.38 | 1.82 | 0.73 | 1.44 | 0.59 | 1.57 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.90 | 3.44 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 100.0% | 100.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -515.3% | -1143.4% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -475.0% | -1079.9% | 0.0% |