Scisparc Stock Price, News & Analysis

SciSparc Ltd. (Nasdaq: SPRC) announced it received a notice from Nasdaq for not meeting the minimum bid price requirement of $1.00 per share. The company has a 180-day period until April 10, 2023, to regain compliance by maintaining the minimum bid price for at least ten consecutive business days. If compliance is not achieved, SciSparc may qualify for an additional 180-day period but risks delisting if it fails to demonstrate compliance.

SciSparc Ltd. (Nasdaq: SPRC) has finalized the acquisition of Wellution™, a leading Amazon seller of hemp-based supplements and cosmetics, for $4.59 million, with potential additional payments based on performance. Wellution™ features over 40,000 product reviews, showcasing top-selling items such as hemp gummies and creams. The acquisition aims to enhance SciSparc’s market presence in the nutraceutical sector. Furthermore, the company issued $15 million in warrants for shares, contingent upon achieving sales milestones. This strategic move is expected to bolster the company's growth trajectory.

SciSparc Ltd. (NASDAQ: SPRC) announced a collaboration with Clearmind Medicine Inc. to develop therapies for metabolic syndromes, including obesity. Clearmind filed a provisional patent application related to this collaboration, marking the third patent application. The partnership combines SciSparc's CannAmide™, an active ingredient for treating obesity, with Clearmind's MEAI, a proprietary psychedelic treatment. This venture aims to provide solutions for obesity and related addictive behaviors, addressing a significant health concern with limited treatment options.

SciSparc Ltd. (NASDAQ: SPRC) announced the acquisition of Wellution™, a leading brand on Amazon for natural supplements and cosmetics, from Merhavit M.R.M Holding. The deal involves an initial payment of $4.59 million, with a deferred payment linked to the brand's EBITDA. Additionally, $15 million in warrants will be issued, exercisable upon achieving specific sales milestones. This acquisition aims to enhance SciSparc's entry into the hemp market, expanding reach beyond the U.S. The new subsidiary, SciSparc Nutraceuticals Inc., will manage the assets and explore growth opportunities.

SciSparc Ltd. (NASDAQ: SPRC) announced positive pre-clinical results in its collaboration with Clearmind to treat cocaine addiction using MEAI, a novel psychedelic molecule. The study revealed that 60% of subjects experienced a significant decrease in cocaine craving, showcasing the potential of the CannAmide™ and MEAI combination. The pre-clinical trial, led by Professor Gal Yadid at Bar Ilan University, suggests a promising path for targeted addiction treatment. The companies have filed provisional patent applications to enhance their therapeutic approaches.

SciSparc Ltd. (Nasdaq: SPRC) announced the full exercise of 3,211,100 pre-funded warrants, part of a $10 million private placement from June 2022. These warrants were exercised at a nominal price of $0.001 each, resulting in the issuance of 3,211,100 ordinary shares. SciSparc, a clinical-stage pharmaceutical company, focuses on cannabinoid-based therapies for central nervous system disorders, including drug development programs for Tourette Syndrome, Alzheimer's disease, pain, and autism spectrum disorder.

SciSparc Ltd. (NASDAQ: SPRC) has signed an escrow agreement following a non-binding letter of intent (LOI) to acquire a top-seller Amazon.com account and related brand from Merhavit M.R.M. Holding and Management Ltd for an initial $1 million deposit. If a definitive agreement is reached, the deposit will contribute to the total purchase. The LOI also includes provisions for management and distribution agreements to enhance product commercialization and expand into new markets. If no agreement is finalized, SciSparc incurs a $50,000 cost but will recover $950,000.

SciSparc Ltd. (NASDAQ: SPRC) has signed a non-binding letter of intent to acquire a top-selling Amazon seller account and a food supplements and cosmetics brand from Merhavit M.R.M Holding. The acquisition includes a management agreement and a distribution agreement, with a base payment of $4.59 million and potential additional payments based on the brand's EBITDA. The deal may enhance SciSparc's market presence and manufacturing capabilities, as the global Industrial Hemp market is projected to grow significantly from $4.1 billion in 2021 to $16.7 billion by 2030.

SciSparc Ltd. (NASDAQ: SPRC) has secured a new patent in Israel for its innovative technology targeting central nervous system disorders. This patent protects pharmaceutical compositions featuring cannabinoids and N-acylethanolamines, aiming to treat various conditions. This milestone marks the fifth patent related to its core technology, reinforcing the company's strong intellectual property portfolio, previously recognized in the U.S., Australia, and Japan. CEO Adi Zuloff-Shani emphasized the importance of this development in distinguishing SciSparc within the pharmaceutical sector.