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SciSparc Ltd. Regains Compliance with Nasdaq Minimum Bid Price Notification

Monday, October 16, 2023 2 min read
Key Takeaway: SciSparc Ltd. has announced that it has regained compliance with Nasdaq's minimum bid price requirement after its shares maintained a bid price of at least $1.00 for ten consecutive business days. This resolution confirms the closure of the previous bid price deficiency matter. SciSparc focuses on developing therapies for central nervous system disorders and is engaged in various drug development programs. The success in regaining compliance is expected to positively impact the company's reputation and investor relations.

Market Sentiment Analysis

POSITIVE FACTORS

  • SciSparc has regained compliance with Nasdaq, indicating stability.
  • The company's shares maintained a bid price above $1 for 10 consecutive days.
  • The compliance issue has been resolved, enhancing investor confidence.

Full Press Release Details

Tel Aviv, Oct. 16, 2023 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC), a specialty, clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system (the “Company”), reported the receipt of a formal notification from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Listing Rule 5550(a)(2), which requires the Company’s ordinary shares to maintain a minimum bid price of $1.00 per share.
The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s ordinary shares was at $1.00 per share or greater for the prior 10 consecutive business days. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and Nasdaq considers the prior bid price deficiency matter now closed.
About SciSparc Ltd. (Nasdaq:SPRC):
SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. SciSparc’s focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive cannabidiol (CBD): SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer’s disease and agitation; SCI-160 for the treatment of pain; and SCI-210 for the treatment of autism spectrum disorder and status epilepticus. The Company also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seeds’ oil-based products on the Amazon.com Marketplace.
For further information please refer to information available on the Company’s website: https://scisparc.com/

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Frequently Asked Questions

What recent announcement did SciSparc Ltd. make?

SciSparc Ltd. announced they have regained compliance with Nasdaq Listing Rule 5550(a)(2).

What does compliance with Nasdaq Listing Rule 5550(a)(2) mean?

It means SciSparc’s shares maintained a minimum bid price of $1.00 for 10 consecutive business days.

What focus areas does SciSparc Ltd. concentrate on?

The company specializes in cannabinoid pharmaceuticals for central nervous system disorders.

What are some of the drug development programs by SciSparc?

They are developing treatments for Tourette Syndrome, Alzheimer’s, pain, and autism.

Where can you find more information about SciSparc Ltd.?

More details can be found on their official website: scisparc.com.

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Last updated: Oct 16, 2023