TEL AVIV – SciSparc Ltd. (NASDAQ:SPRC), a clinical-stage pharmaceutical company, has initiated a clinical trial for its proprietary SCI-210 therapy, aimed at treating symptoms of autism spectrum disorder (ASD) in children. The trial, which is currently underway at Soroka Medical Center in Israel, has enrolled and dosed the first five patients.
The study is a double-blind, randomized, and placebo-controlled trial that will include 60 subjects between the ages of five and 18 over a period of 20 weeks. The aim is to evaluate the efficacy of SCI-210, a combination of cannabidiol (CBD) and CannAmide™, against standard CBD monotherapy in managing ASD symptoms.
Primary efficacy metrics for the trial include the Aberrant Behavior Checklist-Community (ABC-C) parent questionnaire, the Clinical Global Impressions-Improvement (CGI-I) scale performed by clinicians, and determining the effective therapeutic dose. The trial's design was developed in consultation with the National Autism Research Center, Israel's leading autism research institution.
SciSparc's CEO, Oz Adler, expressed satisfaction with the enrollment pace and anticipates that the trial will contribute new scientific data to aid those affected by ASD. ASD is a neurological and developmental disorder that influences social interaction and communication skills, with symptoms and severity varying widely across the spectrum.
The company's strategic plan is to first commercialize SCI-210 in the Israeli market, followed by other countries, subject to regulatory approvals. SciSparc specializes in cannabinoid-based pharmaceuticals and has other drug development programs targeting conditions such as Tourette Syndrome, Alzheimer's disease, pain, and status epilepticus.
This press release includes forward-looking statements regarding the trial's anticipated progress and SciSparc's commercialization strategy. It should be noted that historical scientific research and clinical trials do not guarantee similar future results. These statements are subject to risks and uncertainties, and actual outcomes may differ. Further details on these risks are available in SciSparc's filings with the U.S. Securities and Exchange Commission.
The information reported is based on a press release statement from SciSparc Ltd.
In other recent news, SciSparc Ltd. has made notable strides in its operations. The company is advancing with its merger plans with AutoMax Motors Ltd., following approval from the Jerusalem District Court for AutoMax to hold special shareholder meetings. SciSparc and Clearmind Medicine Inc. have also reported encouraging results from a joint study targeting obesity and metabolic syndrome. In another development, SciSparc has entered an agreement to out-license its SCI-160 program for pain treatment to an undisclosed biotech firm.
Meanwhile, SciSparc has received a notice from the Nasdaq Stock Market for non-compliance with the exchange's minimum bid price requirement. However, the company has been given 180 days to meet the minimum bid price criterion. Furthermore, SciSparc has announced its intent to spin off its advanced clinical stage pharmaceutical portfolio into Miza III Ventures Inc., a move that values SciSparc's assets at approximately $11.6 million.
These are recent developments, and while they highlight the company's ongoing efforts, they are subject to various risks and uncertainties. Investors are advised to consider these factors when making decisions.
InvestingPro Insights
As SciSparc Ltd. (NASDAQ:SPRC) embarks on its clinical trial for SCI-210 therapy, investors are closely monitoring the company's financial health and market performance. According to InvestingPro, SciSparc has a modest market capitalization of 1.2 million USD, reflecting the size and stage of the company within the pharmaceutical industry.
InvestingPro Tips reveal that SciSparc holds more cash than debt on its balance sheet, suggesting a stable financial position that could support its ongoing clinical trials and development programs. Additionally, while analysts anticipate a sales decline in the current year, they also predict that the company will become profitable this year, which could be a pivotal moment for SciSparc's growth trajectory.
Key InvestingPro Data metrics also show that SciSparc has experienced a significant return over the last week with a 17.53% price total return, indicating recent investor confidence or positive market reactions. However, it's important to note that the stock has faced challenges over longer periods, with a one-month price total return of -42.46% and a substantial six-month price total return of -89.37%, highlighting the volatility and risks inherent in investing in clinical-stage pharmaceutical companies.
For investors seeking deeper analysis and additional insights, there are more InvestingPro Tips available, including the company's cash burn rate and liquid assets in comparison to short-term obligations. These details are crucial for understanding the company's operational efficiency and financial resilience. Interested investors can find these additional tips on the InvestingPro platform.
SciSparc's strategic endeavors in the pharmaceutical space, particularly in treatments for neurological and developmental disorders, place it at the forefront of a niche but potentially rewarding market. As the company progresses with its clinical trials and development programs, the financial metrics and insights from InvestingPro will be valuable for investors looking to gauge the potential risks and rewards associated with SciSparc's stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.