SciSparc Ltd. Ordinary Shares - SPRC STOCK NEWS

SciSparc Ltd. (Nasdaq: SPRC) announced on Nov. 29, 2022, that it has regained compliance with Nasdaq's Listing Rule 5550(a)(2), which mandates a minimum bid price of $1.00 per share. This decision follows a period where the company's ordinary shares maintained a closing bid price of at least $1.00 for ten consecutive business days. With this compliance achieved, the previous bid price deficiency matter is now resolved.

On November 15, 2022, SciSparc Ltd. (Nasdaq: SPRC) announced its intention to form a joint venture with Jeffs' Brands Ltd. (Nasdaq: JFBR) to develop a new line of nutritional and dietary supplements. Both companies will hold a 50% stake in the joint venture, which is subject to definitive documentation. SciSparc will handle product development, leveraging Jeffs' Brands' e-commerce expertise for marketing. This collaboration aims to create products based on market demand analysis for high profitability, potentially enhancing both companies' market positions.

SciSparc Ltd. (Nasdaq: SPRC) has received a new patent (U.S. Patent No. 11,491,172) for compositions and methods enhancing antimicrobials. This marks the seventh patent granted in the U.S. and strengthens the company’s intellectual property portfolio, comprising nine patent families and two trademarks. SciSparc is a clinical-stage pharmaceutical firm focused on cannabinoid-based therapies, including treatments for Tourette Syndrome, Alzheimer's disease, pain, and autism spectrum disorder.

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.