Welcome to our dedicated page for Silver Spike news (Ticker: SPKBW), a resource for investors and traders seeking the latest updates and insights on Silver Spike stock.
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Silver Spike Acquisition Corp. II (NASDAQ: SPKB/SPKBU/SPKBW) and Eleusis have mutually terminated their planned merger due to unfavorable market conditions. Effective immediately, this decision reflects the current challenges in the market landscape. Silver Spike II will continue to seek a suitable target for an initial business combination. A Current Report on Form 8-K will provide further details to the U.S. Securities and Exchange Commission. Eleusis focuses on transforming psychedelics into mainstream medicine, while Silver Spike II aims to operate in the cannabis and wellness sectors.
Eleusis Holdings Ltd has received a Notice of Allowance from the US Patent and Trademark Office for its proprietary psilocin salt form and formulations, marking a significant step for its lead drug candidate, ELE-Psilo. Designed for intravenous delivery, ELE-Psilo targets major depressive disorder and aims to provide consistent and controllable treatment. The company plans to initiate clinical trials in the UK in 2022. Furthermore, Eleusis has signed a definitive business combination agreement with Silver Spike Acquisition Corp. II (NASDAQ: SPKB/SPKBU/SPKBW), moving towards becoming a public company.
