aibioSciSparc gets conditional Nasdaq compliance letter on stockholders' equity
Tickers SPRC
Nasdaq staff said on May 7, 2026 that SciSparc now meets the $2,500,000 stockholders' equity standard, but the letter is conditional. Delisting is possible if the company's next periodic report does not show compliance.
Key facts
- Company
- SciSparc Ltd. (NASDAQ: SPRC)
- News type
- Listings
- Primary source
- SciSparc Ltd. 6-K (2026-05-11)
The conditional letter
SciSparc Ltd. (Nasdaq: SPRC) said in a Form 6-K dated May 11, 2026 that it received a conditional compliance letter from Nasdaq's Listing Qualifications staff on May 7, 2026. The staff determined that the company complies with Nasdaq Continued Listing Rule 5550(b)(1), which requires minimum stockholders' equity of $2,500,000. The determination rests on the company's Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 29, 2026.
The letter is conditional. If SciSparc does not provide evidence of compliance when it files its next periodic report, it may be subject to delisting. The 6-K does not state the stockholders' equity figure the staff relied on.
The January deficiency
On January 12, 2026, the Listing Qualifications Department notified SciSparc that it did not comply with Rule 5550(b). The company did not have the minimum $2,500,000 in stockholders' equity, and it did not meet either alternative under the rule. Those alternatives are a market value of listed securities of at least $35,000,000, or at least $500,000 of net income from continuing operations in the latest fiscal year or in two of the last three fiscal years. The 6-K does not give the company's market value or net income figures.
What the company does
SciSparc works through its majority-owned subsidiary NeuroThera Labs, which describes itself as a clinical-stage pharmaceutical developer. Its programs use THC or non-psychoactive CBD. SCI-110 combines THC with CannAmide, a proprietary PEA formulation, and is being developed for Tourette syndrome (TS), Alzheimer's disease and agitation. SCI-210 combines CBD with CannAmide and is being developed for ASD and status epilepticus (SE). In August 2024, the company licensed out its SCI-160 program to Polyrizon.
The Alzheimer's trial and its limits
The company announced positive topline results in June 2023 from a Phase IIa trial of SCI-110 in patients with Alzheimer's disease and agitation. The trial was open label and enrolled 18 patients. The company says it met its primary endpoints, which measured dropouts for poor tolerability and treatment-related adverse events, and that no SCI-110-related safety issues were observed.
Those primary endpoints measure safety and tolerability, not whether the drug works. The agitation result is a secondary endpoint. The company says 13 of 15 patients treated at least two consecutive times showed less agitation on the Cohen Mansfield Agitation Inventory, at doses of 7.5mg to 12.5mg a day. That is a small group in an open-label study, which has no blinding. Eleven patients reduced food intake and showed feeding difficulties on an exploratory scale, a result the company says was not significant. The trial showed no effect on cognition or sleep quality.
The company says it may consider a Phase IIb trial for this indication, depending on financing. It says there is no assurance it will proceed, or that sufficient funding will be available on acceptable terms, or at all.
Tourette regulatory steps
The company says regulators approved or cleared SCI-110 for Tourette syndrome in several steps. Israel's Ministry of Health approved a trial in August 2022. The German Federal Institute for Drugs and Medical Devices (BfArM) approved a Phase IIb trial, which the company announced in June 2023. The FDA cleared the company's IND in October 2024, allowing a trial in the United States. The company gives no start date for a Tourette trial and says any Phase IIb trial depends on the availability of financing, with no assurance it will proceed.
The money
The 20-F says capital expenditures were $0 in 2025, 2024 and 2023. The XBRL data attached to the company's filings give an older annual loss: $3.5 million for 2020, against $4.7 million for 2019. Those years predate the programs described above, so they say little about the company's position in 2026.
The next dated step is the company's next periodic report. The staff said that filing must show equity compliance, or delisting may follow.