Why Is Psychedelic-SciSparc Stock Trading Higher On Monday?

On Monday, SciSparc Ltd SPRC stock is trading higher with a session volume of 30.86 million compared to an average volume of 7.73 million as per data from Benzinga Pro.

SciSparc announced, as part of its ongoing collaboration with Clearmind Medicine Inc. CMND, the publication of a European patent application submitted by Clearmind under the European Patent Office for combination therapy of MEAI and N-Acylethanolamines for binge behavior, including alcohol consumption, eating, tobacco consumption, shopping, and sexual conduct.

Under the collaboration, SciSparc and Clearmind are researching combination therapies that integrate psychedelic molecules with the N-acylethanolamines family, including Palmitoylethanolamide.

To date, Clearmind has filed thirteen patents related to this collaboration in the United States and several other global jurisdictions.

Earlier, Clearmind Medicine filed a patent application for its combination therapy involving Ibogaine and N-Acylethanolamines. It combines the psychedelic compound Ibogaine with Palmitoylethanolamide, which is a member of the N-Acylethanolamines family. It aims to improve the safety and efficacy of Ibogaine-based treatments.

In September, the FDA approved SciSparc’s investigational new drug (IND), which enables the company to proceed to Phase 2b trial for its medication to treat Tourette Syndrome.

Price Action: At the last check on Monday, SPRC stock was 152.90% at $1.39, and CMND stock was up 10.70% at $1.65.

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