TEL AVIV - SciSparc Ltd. (NASDAQ:SPRC), a clinical-stage pharmaceutical company, announced today that its collaborative venture MitoCareX Bio Ltd. has made significant progress in the development of a predictive AI model aimed at enhancing the discovery of anti-cancer drugs. The venture, which targets the mitochondrial SLC25 protein family, has successfully screened millions of small molecules virtually, identifying several with potential anti-cancer properties.
MitoCareX Bio has validated the biological activity of these molecules through in-vitro screening systems related to the mitochondria. The advancement of the AI model is expected to improve the efficiency of exploring broader chemical spaces and lead to the discovery of novel anti-cancer scaffolds that target the SLC25 protein.
SciSparc specializes in the development of therapies for central nervous system disorders and has a diverse portfolio that includes drug development programs based on cannabinoid pharmaceuticals. The company's focus encompasses treatments for conditions such as Tourette Syndrome, Alzheimer's disease, pain, Autism Spectrum Disorder (ASD), and status epilepticus.
This update is based on a press release statement and aims to inform about the latest developments at SciSparc Ltd.
InvestingPro Insights
As SciSparc Ltd. (NASDAQ:SPRC) continues to innovate in the pharmaceutical space with its latest advancements in AI-driven drug discovery, investors are closely monitoring the company's financial health and market performance. According to InvestingPro real-time data, SciSparc's market capitalization stands at a modest 2.26 million USD, reflecting the scale of the company within the broader industry.
The company's Price to Earnings (P/E) ratio, a measure of its current share price relative to its per-share earnings, is notably low at 4.8, with an even more reduced adjusted P/E ratio for the last twelve months as of Q2 2023 at 2.04. This may suggest that the company's earnings are strong relative to its share price, potentially indicating an undervalued stock. Furthermore, SciSparc's Price to Book ratio during the same period is 0.55, which could be attractive to investors seeking assets that may be priced below their actual net worth.
However, the financial landscape is not without its challenges. SciSparc's operating income margin for the last twelve months as of Q2 2023 stands at -194.06%, indicating that the company's operating expenses far exceed its gross income. This could be a point of concern for investors who prioritize profitability and operational efficiency.
Two InvestingPro Tips that stand out for SciSparc include the analysts' anticipation of sales growth in the current year, which aligns with the company's optimistic outlook on its AI model for drug discovery. Additionally, the Relative Strength Index (RSI) suggests that the stock is currently in oversold territory, which might interest traders looking for potential entry points in anticipation of a rebound.
For those seeking more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/SPRC that could provide further insights into SciSparc's financials and market prospects. Investors can also take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable investment tips.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.