SciSparc Ltd. (NASDAQ:SPRC), a specialty clinical-stage pharmaceutical company focused on the endocannabinoid system, plans to review potential strategic transactions.
What happened: SPRC's board initiated a process to review potential strategic transactions to maximize shareholder value.
Additional investments in innovative companies, acquisitions, strategic collaboration with one or more parties, or the licensing of one or more of the Company's patented technologies or indications may be explored and assessed during the review process.
SciSparc to consider making dividend in-kind distributions if the transaction results in equity consideration.
Why it's important: "As we assess potential external strategic alternatives, we continue to seek to create value through the development of unique clinical-stage treatments for the central nervous system, including Alzheimer's disease, Tourette syndrome, and more. We plan to continue our trials according to the FDA guidelines and explore our new path with psychedelic pharmaceutical treatments," added Adler.
"Our cash position provides us the opportunity to carefully consider a range of potential strategic alternatives designed to maximize shareholder value," stated Oz Adler, SciSparc's Chief Executive Officer.
Price Action: SPRC shares closed lower by 1.85% at $3.19 on Wednesday.