Shares of SciSparc (SPRC) are down 12% after its partner, Clearmind Medicine (CMND) announced a new patent filing in Hong Kong for a non-hallucinogenic treatment targeting major depressive disorder.
Clearmind's patent covers a combination therapy that pairs its proprietary compound MEAI with palmitoylethanolamide (PEA)- an anti-inflammatory molecule supplied through NeuroThera Labs, a wholly owned subsidiary of SciSparc.
The company says the MEAI-PEA formulation is designed to offer a safer alternative to traditional antidepressants without hallucinogenic effects.
Major depressive disorder affects more than 332 million people worldwide, and demand for new treatment options continues to grow. Clearmind noted that the global antidepressant market could exceed $25 billion in 2030, underscoring the commercial potential of the new therapy.
The company recently implemented a 1-for-9 reverse stock split on March 4, 2026.
SPRC is currently trading at $4.14, down 12.47%.
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