SciSparc Ltd. (NASDAQ: SPRC) noticed its stock prices moving upward at Friday’s opening bell, as the company, a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, announced the initiation of its Phase IIb clinical trial treating patients suffering from Tourette Syndrome (TS) with its SCI-110, proprietary drug candidate.
The trial is being conducted under the regulation of the U.S. Food and Drug Administration (FDA), the Federal Institute for Drugs and Medical Devices in Germany (BfArM) and the Israeli Ministry of Health. SciSparc initiated the trial at the Tel Aviv Sourasky Medical Center in Israel (Sourasky) and is expected to proceed with its U.S. and Germany-based medical sites. The Company has already secured institutional review board approval from all three clinical sites, approval from the Israeli Ministry of Health for the clinical trial at Sourasky, and approval from BfArM for conducting the trial at the Hannover Medical School.
TS is a movement and neurobehavioral disorder characterized by motor and vocal tics and is highly linked with co-morbidities. As the currently used medications are managing only a small number of disease symptoms with limited efficacy and questionable safety, there is a clear unmet medical need for the management of TS.
SPRC shares sprinting 50 cents, or 10.4%, to $5.31.