Ikarian Capital, LLC - 31 Oct 2025 SCHEDULE 13G/A Report for Spruce Biosciences Inc. Common Stock, par value $0.0001 per share (SPRB)

Filing Manager: Ikarian Capital, LLC
Reporting Manager: Ikarian Capital, LLC
Security: Spruce Biosciences Inc. Common Stock, par value $0.0001 per share
Symbol: SPRB
Shares outstanding: 1,064,526 shares
Disclosed Ownership: 121,356 shares
Ownership: 11%
Form type: SCHEDULE 13G/A
Filing time: 07 Nov 2025, 16:30:02 UTC
Date of event: 31 Oct 2025
Previous filing: 08 Oct 2025
SEC: View on sec.gov

Reporting Managers (2)

Name	Ownership	Shares Owned	sole voting power	shared voting power	Signature	Title	CIK
Ikarian Capital, LLC	11%	121,356	0	121,356	/s/ Neil Shahrestani	Neil Shahrestani, Sole Manager
Neil Shahrestani	11%	121,356	0	121,356	/s/ Neil Shahrestani	Neil Shahrestani