Psychedelic Breakthrough: SciSparc Soars on European Patent Application
The market is abuzz with excitement as SciSparc Ltd (NASDAQ:SPRC) stock surges on Monday, with a remarkable session volume of 30.86 million, significantly higher than its average volume of 7.73 million. This sudden spike can be attributed to the company’s latest announcement regarding its collaboration with Clearmind Medicine Inc. (NASDAQ:CMND).
Clearmind’s European Patent Application: A Major Milestone
As part of their ongoing partnership, Clearmind has submitted a European patent application to the European Patent Office for a combination therapy involving MEAI and N-Acylethanolamines. This innovative treatment targets binge behavior, including alcohol consumption, eating, tobacco consumption, shopping, and sexual conduct. The application marks a significant milestone in the companies’ joint research efforts, which focus on integrating psychedelic molecules with the N-acylethanolamines family, including Palmitoylethanolamide.
A String of Patent Applications
To date, Clearmind has filed an impressive thirteen patents related to this collaboration in the United States and several other global jurisdictions. Earlier, the company filed a patent application for its combination therapy involving Ibogaine and N-Acylethanolamines, which aims to improve the safety and efficacy of Ibogaine-based treatments.
SciSparc’s IND Approval: A Major Boost
In September, the FDA approved SciSparc’s investigational new drug (IND), paving the way for the company to proceed to a Phase 2b trial for its medication to treat Tourette Syndrome. This approval has undoubtedly contributed to the company’s stock surge.
Price Action: SciSparc and Clearmind Stocks on the Rise
As of Monday, SPRC stock was up an impressive 152.90% at $1.39, while CMND stock rose 10.70% to $1.65. This upward trend is a testament to the growing excitement surrounding the companies’ groundbreaking research in the psychedelic space.
Leave a Reply