Fighting depression can be a disaster, even for healthcare stocks who have been at it for some time. But a new development from Clearmind Medicine (NASDAQ:CMND) is launching one of its partner organizations, SciSparc (NASDAQ:SPRC), into orbit. SciSparc stock was up over 18% in Friday afternoon trading, suggesting the potential beginning of something very big.
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The move that sent SciSparc rocketing up was Clearmind filing for a provisional patent with the U.S. Patent and Trademark Office. The patent in question covered a combination effort of chemicals that started with Clearmind’s MEAI and SciSparc’s Palmitholyethanolamide, or PEA. The two substances together form an aggregate that has some effect against depression. The combined substances also seem to have an effect on obesity, cocaine addiction, alcohol use disorder, and more.
SciSparc’s PEA has also been successfully combined with several other substances, ranging from ketamine to lysergic acid diethylamide and beyond, to treat a range of disorders. Further, SciSparc has been working on a new potential treatment for Tourette’s Syndrome in adults. Known as SCI-110, it just got approval to launch Phase IIb testing. The new tests will focus on how well the drug works and how readily it can be tolerated in humans.
A look at the last five days in trading shows something very interesting. While SciSparc shares are extremely volatile, they were on an upward path. Today’s jump was substantial, certainly, but it wasn’t a straight line up. It was actually just an accelerated part of an already-upward trend.
