Welcome to our dedicated page for Scisparc news (Ticker: SPRC), a resource for investors and traders seeking the latest updates and insights on Scisparc stock.
SciSparc Ltd. reports clinical-stage pharmaceutical and intellectual-property developments tied to cannabinoid-based technologies and its majority-owned subsidiary, NeuroThera Labs Inc. The company’s recurring updates cover SCI-110 for Tourette syndrome and Alzheimer’s disease agitation, SCI-210 for autism spectrum disorder and status epilepticus, and combination approaches involving THC, non-psychoactive CBD, PEA and MEAI.
Company news also includes patent activity for CNS, metabolic and antimicrobial-resistance applications; the acquired MUSE™ endoscopic system and related medical-camera intellectual property for GERD procedures; hemp seed oil-based product sales through a controlled subsidiary; and public-company matters such as capital-structure actions, Nasdaq compliance notices, material agreements and financial disclosures.
SciSparc Ltd. (Nasdaq: SPRC) announced positive interim results from its Phase IIa trial of SCI-110 for patients with Alzheimer’s Disease and agitation. The trial demonstrated that SCI-110 was safe at all tested doses, without serious adverse effects. Notably, 75% of participants did not require additional medications for agitation, and 75% experienced increased appetite. The open-label study included 20 patients, with interim results based on the first eight. SCI-110 aims to address the unmet need for safe treatment options in this patient population.
SciSparc Ltd. (Nasdaq: SPRC) recently announced a strategic agreement through its subsidiary, SciSparc Nutraceuticals, to enhance logistics operations in New Jersey. This new partnership aims to optimize handling and shipment processes to facilitate direct sales and lower costs for the Wellution™ brand. The logistics facilities, located near major transportation hubs, will support the brand's expansion from Amazon to other e-commerce platforms. CEO Oz Adler emphasized that improved operational efficiency is essential for high-margin sales as they prepare to launch direct sales operations.
SciSparc Ltd. (Nasdaq: SPRC) announced the launch of its new Wellution™ brand keto gummies on Amazon, generating over $100,000 in revenue within the first 30 days. The product achieved approximately 117% ROI after accounting for costs. CEO Oz Adler highlighted plans for further expansion, including new product launches and cost reductions. The company is focused on cannabinoid pharmaceuticals and has ongoing drug development programs targeting disorders such as Tourette Syndrome and Alzheimer's.
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.