Significant stock buyback announced this morning. More on this soon…
Triple Bottom Looking Ready to Breakout SciSparc (SPRC) Gaining Traction as Company Announces Moves into Two New Clinical Trials Creating Potential Catalysts
Triple Bottom Chart, Tiny Float (3.09M) Looking Ready To Break Several Key Levels!
Good day everyone an welcome to all of our new members,
SciSparc Ltd. (NASDAQ: SPRC) is a biotech company focused on creating a portfolio of technologies and assets based on canna-binoid compounds.
Current price $2.35/share (as of pre-market 9AM 7-6-22)
If you believe that cann-abis derivatives will play a role in the future of medicine, then SPRC is the company to take a serious look at. They have patented technology and drugs currently prepped for advanced clinical trials and the stock is currently looking very attractive.
SPRC shares have seen gains recently as they are bouncing off a triple bottom chart. The stock fell almost 50% after the company advised of a private placement of $10M of common shares at market price. While the sale may be dilutive SPRC still has a tiny share count, that may be only six million shares +/- outstanding (a current report is pending). The early June price, before the private placement, was $3.63/share.
The cash raise has made the company stronger exactly when they need it most as they move into more advanced clinical trials with their product line of canna-binoid based medicines. The stock price is being driven by two recently announced catalysts. Their SCI-110 drug is moving into a Phase 2b clinical trial for the treatment of Tourette Syndrome, and their SCI-210 drug has received an approval to move into clinical trials for autism spectrum disorder.
After the cash raise the company stated, “Potential strategic transactions to be explored and evaluated during the review process may include additional investments in innovative companies, acquisitions, a strategic partnership with one or more parties, or the licensing of one or more of the Company’s proprietary technologies or indications. If any such transaction results in equity consideration, the Company may consider making dividend in kind distributions, subject to applicable law and regulations, to its shareholders.”
The SPRC drug candidates are designed to treat Tourette Syndrome, Autism Spectrum Disorder, Epilepsy, Obstructive Sleep Apnea, Alzheimer’s Disease and Agitation, and Pain. The company estimates their total addressable market to be over $100B in the next few years. As I discuss the SPRC pipeline and collaborations below, you may believe, as I do, that the company has enormous potential and could support a significantly higher market value.
The SPRC Product Pipeline:
CannAmide™ is an immediate unique palmitoylethanolamide (PEA) oral formulation for the reduction of chronic pain and inflammation. CannAmide is currently available in tablet form, with each dose containing 400mg active pharmaceutical ingredient. It has been designated a product license issuance from the Natural and Non-prescription Health Products Directorate from Health Canada, for sale as a supplement within the nutraceuticals market and is Trademarked in the U.S. Both SPRC drugs SCI-110 and SCI-210 contain CannAmide.
SCI-110 is a proprietary drug candidate, containing Dronabinol (FDA approved synthetic form of T-H-C), with the endocanna-binoid palmitoylethanolamide (PEA). The product is being developed under the accelerated regulatory path of 505 (b)(2) application. Indications currently being investigated for treatment with SCI-110 include Tourette Syndrome, Obstructive Sleep Apnea, and Alzheimer’s Disease and Agitation. The company has just announced it’s prepared to begin a Phase IIb clinical trial for Tourette Syndrome.
SCI-210 is a proprietary drug candidate containing canna-bidiol, a non-psychoactive canna-binoid, and PEA. Indications currently being investigated for treatment with SCI-210 include, autism spectrum disorder and Status Epilepticus, a form of seizures that are severe and sometimes fatal. SPRC has recently announced that it has received approval from the Ethics Committee of The Soroka University Medical Center to conduct the Company’s clinical trial for SCI-210 in patients suffering from autism spectrum disorder.
SCI-160 is a proprietary synthetic CB2 receptor agonist created, among others, for the treatment of pain and is currently in pre-clinical studies. The CB2 receptor agonist used in this formulation – HU-433 – was invented and synthesized by Professor Raphael Mechoulam, Ph.D., Chairman of the SciSparc Scientific Advisory Board.
SPRC Collaborative Agreements:
MitoCareX Bio Ltd. is SciSparc’s recently established joint venture for the discovery and development of potential drugs for cancers, infectious diseases, and other life-threatening conditions.
The company and Clearmind Medicine have filed a provisional patent application related to treating cocaine addiction based on SciSparc’s CannAmide™ compound and Clearmind’s MEAI. Initial positive pre-clinical results for treatment for cocaine addiction using MEAI, a novel psychedelic molecule of Clearmind indicated a potential synergistic effect between SciSparc’s CannAmide compound and Clearmind’s MEAI.
SPRC is collaborating with Polyrizon LTD. As part of the collaboration, the two companies will work to develop a unique technology for the treatment of pain, based on SciSparc’s SCI-160 platform and Polyrizon’s Trap and TargetTM intranasal drug delivery technology to target the central nervous system.
SPRC has eight granted patents (5 in the U.S.) and patents pending in Europe, China, and Japan.
FYE 12-31, MRQ 12-31-21
Outstanding shares 3.19M
Shares in float 3.09M
Book value (mrq) $2.63/share
Market cap $7.6M
52-week high $8.50/share
*These statistics may not reflect the private share placement that occurred in June 2022.
In the chart below we can see that SPRC is bouncing off a low of $1.80 that occurred on June 17th. Note the recent price levels of $3.63/share on June 9th, $3.95/share on May 24th, and $6.99/share on March 25th of this year.
Repurposing previously approved compounds qualifies SciSparc to take advantage of the FDA’s 505 (b)(2) application protocol. This potentially means lower risk, and an expedited development timeline. The result is a robust pipeline of product candidates well positioned to create significant shareholder value into the future.
SciSparc has built an intellectual property portfolio which currently comprises five granted U.S. patents and pending patent applications in nine families, all focused on disorders of the central nervous system. Currently, their drug candidates are designed to treat Tourette Syndrome, Autism Spectrum Disorder, Epilepsy, Obstructive Sleep Apnea, Alzheimer’s Disease and Agitation, and Pain.
Their research and development efforts are focused on creating a proprietary and unique combination of products, some available already in the market (CannAmide™), products in the accelerated regulatory path of 505 (b)(2) application (SCI-110, SCI-210) and products that constitute a new chemical entity (SCI-160) in order to bring different products to market at different timelines and potentially enable them to generate immediate revenues for the company, augmenting FDA-approved natural and synthetic canna-binoids in combination with our proprietary compounds and technologies to create alternate therapies that potentiate the effects of canna-binoids and target the receptors implicated in modulating the central nervous system.
We will have a full report available on SciSparc Soon.
The Traders News Team
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