Scisparc Stock Price, News & Analysis

SciSparc Ltd. (Nasdaq: SPRC) announced on March 10, 2023, that it received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company has until September 5, 2023, to regain compliance, with a grace period of 180 days to achieve this by maintaining the minimum bid price for at least ten consecutive business days. Failure to do so could lead to delisting, although an additional compliance period may be available if other listing requirements are met. Currently, there is no immediate effect on the company's Nasdaq listing, and shares will continue to trade under the symbol SPRC.

SciSparc Ltd. (NASDAQ: SPRC) announced that the Israeli Ministry of Health has granted approval for its clinical trial involving SCI-110, aimed at treating Tourette Syndrome (TS). The trial will take place at the Tel Aviv Sourasky Medical Center and includes international sites like Yale University and Hannover Medical School, pending regulatory approvals. The objective is to evaluate the efficacy, safety, and tolerability of SCI-110 in adults, utilizing a randomized, double-blind, placebo-controlled design. Prior Phase IIa results indicate potential benefits of SCI-110 for TS patients, which affects 0.5-1% of the global population.

SciSparc Ltd. (NASDAQ: SPRC) announced the successful manufacturing of clinical batches for its drug candidate SCI-110, intended for a Phase IIb trial targeting Tourette Syndrome. The manufacturing was done by Procaps Group under stringent Good Manufacturing Practices, ensuring compliance with FDA and European Medicines Agency standards. Ethics approvals have been secured from institutions in Germany and Israel, with plans to obtain further approval from Yale University. The trial aims to assess the efficacy and safety of SCI-110 in adults aged 18-65, following a randomized, placebo-controlled method. Successful trial outcomes could advance SciSparc's focus on cannabinoid pharmaceuticals.

SciSparc Ltd. (Nasdaq: SPRC) announced an agreement with Tikun Olam Cannbit Pharmaceuticals to supply CBD-rich oil for its proprietary SCI-210 treatment. This treatment, combining CBD and CannAmide™, will be evaluated in a clinical trial for children with autism spectrum disorder (ASD) at Soroka University Medical Center. The randomized, double-blind trial will assess safety, tolerability, and efficacy in 60 children over 20 weeks, utilizing key measures like the Aberrant Behavior Checklist-Community. The company received necessary approvals from the Israeli Ministry of Health and the Ethics Committee for the trial.

SciSparc Ltd. (Nasdaq: SPRC) has entered into a definitive agreement to sell a 49% stake in its subsidiary, SciSparc Nutraceuticals Inc., to Jeffs' Brands Ltd. (Nasdaq: JFBR) for $2.5 million in cash, along with potential inventory adjustments worth around $300,000. The deal includes a mutual share exchange valued at $300,000. Following completion, expected within seven business days, SciSparc will retain about 51% of the subsidiary. A consulting agreement will also be established, allowing Jeffs' Brands to manage Wellution products for a monthly fee.

The Wellution brand is recognized on Amazon for its hemp-based products, boasting positive reviews and rankings.

SciSparc Ltd. (Nasdaq: SPRC) announced its ongoing collaboration with Clearmind Medicine Inc. (Nasdaq: CMND) to develop novel psychedelic-derived therapeutics. Clearmind filed three provisional patent applications with the USPTO, focusing on unique combinations of MDMA, Ibogaine, and Ketamine with SciSparc's CannAmide™ (PEA). In total, six patent applications have been submitted related to alcohol use disorder, cocaine addiction, obesity, and other metabolic disorders. Both companies will jointly own any generated assets. The collaboration enhances SciSparc's intellectual property portfolio as it develops treatments for CNS disorders, including multiple drug candidates for various conditions.

SciSparc Ltd. (Nasdaq: SPRC) announced the successful establishment of its MitoCareX Bio joint venture's cloud-based computing infrastructure, a key milestone under the March 2022 agreement. This development aims to enhance drug discovery for cancer and rare diseases by utilizing machine learning to investigate mitochondrial carriers. Following this achievement, SciSparc will invest an additional $400,000, increasing its ownership in MitoCareX Bio from 31.48% to 41.92%. The venture is currently advancing its computational drug discovery platform, supported by previous successful proof-of-concept experiments in the UK.

SciSparc Ltd. (Nasdaq: SPRC), a clinical-stage pharmaceutical company, announced on Feb 15, 2023, the filing of three provisional patent applications by its collaborator, Clearmind Medicine Inc. (Nasdaq: CMND). These patents cover innovative combinations of psychedelic compounds such as LSD, psilocybin, and DMT with SciSparc's CannAmide™. The collaboration aims to develop therapies for alcohol use disorder, cocaine addiction, and obesity. CEO Oz Adler expressed confidence in the partnership, highlighting CannAmide™'s ability to enhance treatment efficacy while minimizing dosages.

SciSparc Ltd. (Nasdaq: SPRC), a clinical-stage pharmaceutical company, announced a restructuring plan to transfer its pharmaceutical operations to a new wholly-owned subsidiary. This move aims to facilitate a possible public listing of the subsidiary while retaining a controlling interest in its core activities. The restructuring is expected to enhance value creation opportunities and allow SciSparc to explore new investments across various sectors. The company is currently developing cannabinoid-based therapies targeting disorders such as Tourette Syndrome, Alzheimer's disease, pain management, and autism spectrum disorder.