Why SPRC Surged Over 50% Today? SciSparc Ltd. (SPRC)
Aug 24th, 2022 12:33 EST
Why SPRC surged over 50% today during the premarket hours? The stock price of SciSparc Ltd. (Nasdaq: SPRC) took a flight to more than 50%, with an incredible volume of 4.4M today during the premarket hours. Here is what you need to know about it. On August 24th, at 7:30 EST, SciSparc Ltd. (Nasdaq: SPRC) announced additional positive pre-clinical results of its Psychedelic-based Pharma Collaboration for the treatment of cocaine addiction using MEAI. This is a novel psychedelic molecule of Clearmind Medicine Inc. (OTC: CMNDF). The news sounded special to traders and investors, and its stock price increased significantly in less than an hour. SciSparc Ltd. (Nasdaq: SPRC) is a specialty clinical-stage pharmaceutical company. Its main focus is developing therapies to treat disorders of the central nervous system. SPRC has recently announced the collaboration with Clearmind for their combination treatment based on SciSparc’s CannAmide™ compound and Clearmind’s MEAI for various addictions. The results are promising and indicate that the two companies have a potential synergistic effect, and they have a targeted treatment for cocaine addiction within their reach. The pre-clinical trial was led by Professor Gal Yadid and his team from the Gonda Multidisciplinary Brain Research Center located at Bar Ilan University (Ramat Gan, Israel). The study was targeted to evaluate the possible reward-like effects of MEAI with connection to cocaine and its ability to abolish cocaine-induced conditioned place preference. The results have shown that the therapy has significantly decreased the craving for cocaine.