Shares of SciSparc Ltd. (SPRC) surged by more than 57% on Tuesday following the announcement that the company's patent application for a combination of opioids and N-Acylethanolamines for pain treatment has been accepted by IP Australia - the government agency responsible for administering intellectual property rights and patent legislation in Australia.
SPRC is trading on the Nasdaq at $5.36, up 57.33% or $1.95 per share. It has traded between $2.80 and $41.34 in the past 52-week period.
The company's Chief Executive Officer, Oz Adler said, "… our unique technology allows us to harness the ability to treat pain through opioids while using significantly lower concentrations than those used on the market today and allows us to continue to fulfill our promise to offer both effective and safe treatments."
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