The shares of SciSparc Ltd. (NASDAQ: SPRC) are currently experiencing a noteworthy surge in value, exhibiting an impressive upward movement of over 35%, with the stock currently trading at $5.00, according to the latest market data.
Furthermore, there is a marked increase in trading activity for SciSparc stock, as evidenced by the trading volume exceeding 11 million shares at the time of composing this report, a substantial deviation from the typical average of 0.11 million shares.
The catalyst behind this surge in SPRC stock can be attributed to the recent grant of a patent in Europe, which has significantly boosted its performance in the present market environment.
SciSparc (SPRC) has just obtained a European patent titled “Combinations of Cannabinoids and N-Acylethanolamines” as part of their mission to improve the safety of cannabinoid treatments while maintaining their therapeutic benefits.
This patent, in alignment with similar grants in the United States, Japan, and Australia, reinforces SciSparc’s pioneering role in cannabinoid technology innovation.
The patent focuses on novel formulations and methods for enhancing the therapeutic effects of specific cannabinoids from the cannabis plant. It encompasses pharmaceutical compositions comprising cannabinoids and N-acylethanolamines, offering versatile applications across various medical conditions amenable to cannabinoid-based treatments.
SPRC’s asset portfolio continues to expand, encompassing intellectual property and revenue-generating assets. This emphasis on robust patent protection stems from SPRC’s profound belief in the vast therapeutic potential of cannabinoid-based medicines.
Notably, SPRC has also initiated a pivotal clinical trial for SCI-210, a unique blend of cannabidiol (CBD) and SciSparc’s proprietary Palmitoylethanolamide (PEA), designed to address symptoms of Autism Spectrum Disorder (ASD). The trial, conducted in collaboration with Israel’s National Autism Research Center, exemplifies SPRC’s commitment to scientific rigor and patient safety. This randomized, double-blind, placebo-controlled study spanning 20 weeks involves 60 children aged 5-18, marking a significant stride in ASD research and treatment.
The recent patent grant and pioneering clinical trial underscore SciSparc (SPRC) dedication to advancing cannabinoid-based therapies with a strong focus on safety and efficacy, positioning the company as a leader in this innovative field.
