What's Going On With Psychedelic Drug-Developers SciSparc And Clearmind Stock?

SciSparc Ltd. SPRC and Clearmind Medicine Inc. CMND shares are trading higher Tuesday after the companies announced the submission of three international patent applications as part of the ongoing collaboration between the companies.

The Details:

SciSparc and Clearmind said the three patent applications refer to novel proprietary combinations of lysergic acid diethylamide (LSD), psilocybin, N,N-dimethyltryptamine (DMT) and Palmitoylethanolamide (PEA), the active ingredient of SciSparc’s proprietary CannAmide.

“We are pleased to continue our ongoing collaboration with Clearmind by expanding the intellectual property portfolio, which is an important asset,” said SciSparc’s CEO, Oz Adler. 

“We believe in the added value that CannAmide™ can offer when combined with various psychedelic compounds that are known for their therapeutic advantages,” Adler said.

“Clearmind continues to be at the forefront of the psychedelic market with one of the largest IP portfolios in the industry. The PCT makes it possible for us to seek patent protection for our proprietary compounds in a large number of countries simultaneously which strengthens our IP portfolio," said Dr. Adi Zuloff-Shani, CEO of Clearmind. 

"To date, our ongoing collaboration with SciSparc has led to the submission of 11 different patent applications, allowing us to continue to be at the forefront of research in the psychedelic industry while working on more effective and safer treatments,” Zuloff-Shani added.

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How To Buy SPRC Stock:

By now you're likely curious about how to participate in the market for SciSparc – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of SciSparc, which is trading at $4.49 as of publishing time, $100 would buy you 22.27 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

SPRC, CMND Price Action: According to Benzinga Pro, SciSparc shares are up 26% at $4.38, and Clearmind shares are up 18.5% at $1.60 at the time of publication.

Image: Enrique Meseguer from Pixabay