<SEC-DOCUMENT>0001622627-25-000011.txt : 20250213
<SEC-HEADER>0001622627-25-000011.hdr.sgml : 20250213
<ACCEPTANCE-DATETIME>20250213125026
ACCESSION NUMBER:		0001622627-25-000011
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250213
DATE AS OF CHANGE:		20250213

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPRUCE BIOSCIENCES, INC.
		CENTRAL INDEX KEY:			0001683553
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				812154263
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91764
		FILM NUMBER:		25618754

	BUSINESS ADDRESS:	
		STREET 1:		611 GATEWAY BOULEVARD, SUITE 740
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
		BUSINESS PHONE:		(415) 655-4168

	MAIL ADDRESS:	
		STREET 1:		611 GATEWAY BOULEVARD, SUITE 740
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Rosalind Advisors, Inc.
		CENTRAL INDEX KEY:			0001622627
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		25 ADMIRAL ROAD
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5R 2L4
		BUSINESS PHONE:		4168887606

	MAIL ADDRESS:	
		STREET 1:		15 WELLESLEY STREET WEST
		STREET 2:		SUITE 326
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4Y 0G7
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001622627-24-000002</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001622627</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common shares</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001683553</issuerCik>
        <issuerName>SPRUCE BIOSCIENCES, INC.</issuerName>
        <issuerCusip>85209E109</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>611 GATEWAY BOULEVARD, SUITE 740</com:street1>
          <com:street2>611 GATEWAY BOULEVARD, SUITE 740</com:street2>
          <com:city>SOUTH SAN FRANCISCO</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94080</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Rosalind Advisors, Inc.</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>0.0</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>SALAMON STEVEN A J</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>0.0</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Aharon Gil</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>0.0</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Rosalind Master Fund L.P.</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>0.0</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>SPRUCE BIOSCIENCES, INC.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>611 GATEWAY BOULEVARD, SUITE 740, 611 GATEWAY BOULEVARD, SUITE 740, SOUTH SAN FRANCISCO, CALIFORNIA, 94080</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Rosalind Advisors Inc. Advisor to RMF
Rosalind Master Fund L.P. RMF
Steven Salamon President
Steven Salamon is the portfolio manager of the Advisor which advises RMF.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Rosalind Advisors, Inc.
15 Wellesley Street West,
Suite 326
Toronto, Ontario
M4Y 0G7 Canada

Rosalind Master Fund L.P.
P.O. Box 309
Ugland House, Grand Cayman
KY1-1104, Cayman Islands

Steven Salamon
15 Wellesley Street West,
Suite 326
Toronto, Ontario
M4Y 0G7 Canada

Gilad Aharon
15 Wellesley Street West,
Suite 326
Toronto, Ontario
M4Y 0G7 Canada
</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Steven Salamon, Ontario, Canada
Gilad Aharon, Ontario, Canada</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Rosalind Advisors, Inc. is the investment advisor to RMF and may be deemed to be the beneficial owner of shares held by RMF.  Steven Salamon is the portfolio manager of the Advisor and may be deemed to be the beneficial owner of shares held by RMF.  Notwithstanding the foregoing, the Advisor and Mr. Salamon disclaim beneficial ownership of the shares. </amountBeneficiallyOwned>
        <classPercent>0</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Rosalind Advisors, Inc.</reportingPersonName>
      <signatureDetails>
        <signature>Steven Salamon </signature>
        <title>President</title>
        <date>02/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>SALAMON STEVEN A J</reportingPersonName>
      <signatureDetails>
        <signature>Steven Salamon</signature>
        <title>Steven Salamon</title>
        <date>02/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Aharon Gil</reportingPersonName>
      <signatureDetails>
        <signature>Gil Aharon</signature>
        <title>Gil Aharon</title>
        <date>02/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Rosalind Master Fund L.P.</reportingPersonName>
      <signatureDetails>
        <signature>Mike McDonald</signature>
        <title>Director, Rosalind (Cayman) Ltd. (as General Partner to Rosalind Master Fund)</title>
        <date>02/13/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A BD-DIR-RESOL
<SEQUENCE>2
<FILENAME>ex_a_sprb_13ga.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>Schedule 13G</TITLE>
</HEAD>
<BODY>
<DIV style=margin-left:72pt;width:468pt><P style='font:12pt Times New Roman;margin:0'> &nbsp;</P>
<HR style='border:0;height:0;width:0;margin:12pt 0 0 0'><TABLE style=margin-left:auto;border-collapse:collapse;width:40%><TR style=height:12pt><TD valign=middle><P style='font:9pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
</TABLE>
<P style='font:9pt Arial;margin:0'><B>Exhibit A</B></P>
<P style='font:12pt Times New Roman;margin:0'>Joint Filing Agreement</P>
<P style='font:9pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:9pt Times New Roman;margin:0'>The undersigned hereby agree that this Statement on Schedule 13G with respect to the beneficial ownership of shares of Common Stock of Spruce Biosciences, Inc. is filed jointly on behalf of each of them.</P>
<P style='font:9pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:11pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'><B>Rosalind Advisors, Inc.</B></P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>By: _____________________________</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Name: Steven Salamon</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Title: President</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>&nbsp;</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'><B>Rosalind Master Fund L.P.</B></P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>By: _____________________________</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Name: Mike McDonald</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Title: Director, Rosalind (Cayman) Ltd. (as General Partner to Rosalind Master Fund)</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>&nbsp;</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>By: _____________________________</P>
<P style='font:9pt Times New Roman;margin:0;margin-left:255.15pt'>Name: Steven Salamon</P>
<HR style='border:0;height:0;width:0;margin:12pt 0 0 0'><P style='font:12pt Times New Roman;margin:0'> &nbsp;</P>
<P style='font:8pt Times New Roman;margin:0'>NYC#: 139632.2</P>
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
