SciSparc Shares Rise 9% After Exploring Psychedelics as Possible Way to Expand Portfolio

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by Chris Wack

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The company said that SciSparc Ltd. shares were up 9% to $6.16.

Despite being heavily regulated around the world, psychedelics has become an increasingly popular area for research, the company said.

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SciSparc said a report by Market Digits estimated the sector to be worth more than $10 billion by 2027, compared to $4.75 billion in 2020.

“We are tracking research into psychedelics and are encouraged by reports that seem to be particularly favorable for disorders of the central nervous system,” said Adi Julof-Shani, Cyspark’s chief technology officer. “I expect that our approach has the potential to be compatible with psychedelic compounds, so it behooves us to include them in the pool of candidates that we consider when evaluating new opportunities.”

Write to Chris Wack at [email protected]

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