Israel-Based Biotech Penny Stock SciSparc Outlicenses Its Cannabinoid Pain Therapy
Portfolio Pulse from Vandana Singh
SciSparc Ltd. (NASDAQ: SPRC) has signed an exclusive patent license agreement with Polyrizon Ltd to out-license its SCI-160 program for pain treatment. SciSparc will receive Polyrizon securities valued at $3 million and potentially milestone fees and royalties. SCI-160 has shown promising preclinical results. Additionally, SciSparc has agreed to a merger with AutoMax Motors Ltd. SPRC stock is up 21.8% in premarket trading.
August 19, 2024 | 11:51 am
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SciSparc Ltd. (NASDAQ: SPRC) has signed an exclusive patent license agreement with Polyrizon Ltd to out-license its SCI-160 program for pain treatment. SciSparc will receive Polyrizon securities valued at $3 million and potentially milestone fees and royalties. Additionally, SciSparc has agreed to a merger with AutoMax Motors Ltd. SPRC stock is up 21.8% in premarket trading.
The exclusive license agreement with Polyrizon and the potential financial benefits from milestone fees and royalties are positive developments for SciSparc. Additionally, the merger with AutoMax Motors Ltd. indicates strategic expansion. These factors have contributed to a significant premarket stock price increase of 21.8%.
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