Ikarian Capital, LLC - Oct 6, 2025 SCHEDULE 13G Report for Spruce Biosciences Inc. Common Stock, par value $0.0001 per share (SPRBD)

Filing Manager: Ikarian Capital, LLC
Reporting Manager: Ikarian Capital, LLC
Security: Spruce Biosciences Inc. Common Stock, par value $0.0001 per share
Symbol: SPRBD
Shares outstanding: 562K shares
Disclosed Ownership: 121K shares
Ownership: 21.6%
Form type: SCHEDULE 13G
Date filed: 10/8/2025, 11:04 AM
Date of event: Oct 6, 2025
Next filing: Nov 7, 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	21.6%	121K	0	121K	/s/ Neil Shahrestani	Neil Shahrestani, Sole Manager
Neil Shahrestani	21.6%	121K	0	121K	/s/ Neil Shahrestani	Neil Shahrestani