Zinger Key Points
- SciSparc is investing an additional $600,000 into MitoCareX after the achievement of its second milestone.
- Following this investment, SciSparc will hold 50.1% of the issued and outstanding share capital of MitoCare X Bio.
SciSparc Ltd. SPRC shares are trading higher Wednesday. The company issued a press release highlighting recent results for MitoCareX Bio Ltd. with its drug discovery platform.
The Details:
SciSparc had previously announced that MitoCareX Bio achieved its second milestone with the development of its laboratory capabilities by establishing a variety of small-molecule screening platforms.
SciSparc is investing an additional $600,000 into MitoCareX fulfilling the condition of an additional investment into the joint venture within 30 days of the date the second milestone being achieved.
Following this investment, SciSparc will hold 50.1% of the issued and outstanding share capital of MitoCare X Bio.
SciSparc shares are moving on heavy trading volume Wednesday. According to data from Benzinga Pro, more than 4 million shares have already been traded in the session, surpassing the stock's 100-day average of less than 2 million shares.
Related News: WallStreetBets Sets Sights On Tech: What Retail Traders Are Targeting Tuesday
SPRC Price Action: According to Benzinga Pro, SciSparc shares are up by 22% at $6.02 at the time of publication.
Image: Pete Linforth from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
