Nasdaq Dips Over 100 Points, US Initial Jobless Claims Fall
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 26 2024
0mins
Source: Benzinga
U.S. Stock Market Performance: U.S. stocks experienced a decline, with the Nasdaq Composite dropping over 100 points and the Dow down 0.40%. The S&P 500 also fell by 0.53%, while initial jobless claims decreased to 219,000, lower than market expectations.
Market Movements in Commodities and Asia: Oil and gold prices saw slight increases, while Asian markets mostly closed higher, with Japan's Nikkei 225 gaining 1.12%. Notable stock movements included significant gains for Millennium Group International Holdings and Zoomcar Holdings, contrasted by sharp declines for Neuphoria Therapeutics and Baosheng Media Group.
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Analyst Views on SPRC
About SPRC
Scisparc Ltd, former Therapix Biosciences Ltd is a Israel-based pharmaceutical company commited into creating and enhancing technologies and assets based on cannabinoid pharmaceuticals. The company is engaged in drug development programs based on repurposing a cannabinoid (Dronabinol): THX-110 for the treatment of Tourette syndrome (TS), for the treatment of Obstructive Sleep Apnea (OSA), and the treatment of Pain; THX-130 for the treatment of Mild Cognitive Impairment (MCI) and Traumatic Brain Injury (TBI); THX-150 for the treatment of infectious diseases; and THX-160 for the treatment of pain.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Commercialization Strategy: The company plans to begin commercializing the acquired technologies immediately upon closing the deal, aiming to accelerate market penetration by replicating existing successful distribution models, particularly in North America, Europe, and Latin America.
- Equity Issuance Terms: Under the agreement, SciSparc will issue ordinary shares representing approximately 19.99% of its outstanding stock to the seller at closing, with the potential to issue pre-funded warrants to optimize its capital structure as needed.
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See More
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See More
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- Market Potential: According to The Business Research Company, the global market for opioids is projected to reach approximately $5.5 to $5.7 billion in 2024, and NeuroThera's new technology could provide safer and more effective alternatives, addressing the urgent need for opioid substitutes.
- Clinical Research Findings: In pre-clinical studies, NeuroThera's drug combination demonstrated significant analgesic effects, prolonging the pain-relieving duration of opioids while reducing psychological side effects, indicating its potential value in clinical applications.
- Strategic Implications: The patent acquisition not only enhances NeuroThera's competitive position in the market but also lays the groundwork for SciSparc's innovative development in the opioid sector, potentially accelerating future drug development and commercialization efforts.
See More
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- Efficacy Enhancement: This patented technology enhances opioid analgesia through N-acylethanolamines, with studies indicating it can reduce side effects like tolerance and dependence while maintaining pain relief, addressing the urgent market need for safer solutions.
- Market Potential: According to market research, the global opioid market is projected to reach $5.5 to $5.7 billion in 2024, and NeuroThera's innovative combination could capture significant market share while mitigating issues of opioid misuse and addiction.
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See More
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