Phase II trial drives stock up 44 percent in a day
SciSparc Ltd., a specialty clinical-stage pharmaceutical company, develops drugs based on cannabinoid molecules. The company announced positive results in a Phase II trial to treat agitation associated with Alzheimer's Disease.
As with most small cap announcements for the treatment of AD, the stock rose +44% on the news quickly, sold off quickly, then rose +27%.
Patient investors were rewarded on this trade.
If successful in phase III and commercial development, the drug could generate tens of millions of dollars. The company is currently valued at $3.5M.
The trial focused on their proprietary drug, SCI-110, and its effects on Alzheimer's patients. The results showed that SCI-110 was both safe and effective in reducing agitation in elderly patients with Alzheimer's.
LevelFields users were alerted to the breakthrough within the Alzheimer's Breakthrough scenario on Wednesday morning.