Palm Beach, FL – June 9, 2022 – FinancialNewsMedia.com News Commentary – The central nervous system (CNS) consists of the brain and spinal cord and brain and nervous system problems are more common and increasing in today’s world. The nervous system is vulnerable to various disorders. It can be damaged by trauma, infections, degeneration, structural defects, tumors, blood flow disruption, and autoimmune disorders. These neurological disorders include multiple sclerosis, Alzheimer’s disease, Parkinson’s disease, epilepsy, and stroke, and can affect memory and ability to perform daily activities. Other factors supporting the CNS disorders market growth include rising prevalence of mental illnesses and lifestyle-associated CNS disorders, increasing patient awareness about psychiatric and neurodegenerative disorders, and growing elderly population. A report from iHealthcareAnalyist projected that the global market for central nervous system therapeutics anticipated to become $154 billion by 2027, growing at a CAGR of 9% over the forecast period, driven by increasing prevalence of CNS disorders, continued strength of therapies for multiple sclerosis, strong pipeline of late-stage clinical candidates, high unmet medical needs and rising demand for effective therapeutic options. Neurological disorders are increasingly recognized as major causes of death and disability worldwide. According to World Health Organization (WHO), the central nervous system disorders such as Alzheimer’s disease, multiple sclerosis, epilepsy, Parkinson’s disease, and stroke affect more than 1 billion people worldwide.” Active Companies in the markets today include SciSparc Ltd. (NASDAQ: SPRC), HeartCore Enterprises, Inc. (NASDAQ: HTCR), Qutoutiao Inc. (NASDAQ: QTT), Cyren (NASDAQ: CYRN), Energy Focus, Inc. (NASDAQ: EFOI).
HealthcareAnalyist concluded: “The North America region dominated the market for CNS therapeutics and held the largest revenue share of revenue stream, followed by the Europe region. The increasing incidence of mental health and neurodegenerative disorders such as multiple sclerosis, Alzheimer’s disease, Parkinson’s disease, and epilepsy, as well as presence of large pharmaceutical companies in the region and growing novel therapy initiatives by major competitors, and favorable reimbursement scenario are some of the factors driving the market growth in developed countries.”
SciSparc Ltd. (NASDAQ: SPRC) BREAKING NEWS: SciSparc’ Board of Directors Provides Strategic Decision – SciSparc Ltd., a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system (the “Company” or “SciSparc”), today announced that the Company’s board of directors resolved to initiate a process to review potential strategic transactions with the goal of maximizing shareholder value.
Potential strategic transactions to be explored and evaluated during the review process may include additional investments in innovative companies, acquisitions, a strategic partnership with one or more parties, or the licensing of one or more of the Company’s proprietary technologies or indications. If any such transaction results in equity consideration, the Company may consider making dividend in kind distributions, subject to applicable law and regulations, to its shareholders.
Pending any decision to undertake any such strategic transaction, the Company will continue its development activities in accordance with its existing business strategy.
“Our cash position provides us the opportunity to carefully consider a range of potential strategic alternatives designed to maximize shareholder value,” said Oz Adler, SciSparc’s Chief Executive Officer. “As we assess potential external strategic alternatives, we continue to seek to create value through the development of unique clinical-stage treatments for the central nervous system, including Alzheimer’s disease, Tourette syndrome and more. We plan to continue our trials according to the FDA guidelines and explore our new path with psychedelic pharmaceutical treatments.” CONTINUED… Read this full release for SciSparc at: https://investor.scisparc.com/press-releases/
Other recent developments in the biotech industry include:
HeartCore Enterprises, Inc. (NASDAQ: HTCR) recently announced that it has signed agreements with SYLA Holdings Co. Ltd. (“SYLA”) for its recently announced Go IPO consulting service (“Consulting Agreement”). This engagement marks the Company’s third Go IPO deal in a two-month period.
As part of the Consulting Agreement, HeartCore will assist SYLA in its efforts to complete its initial public offering and list on the Nasdaq Stock Market (“Nasdaq”). Through Go IPO, the Company will service clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore expects to generate from SYLA an aggregate of $500,000 in initial fees throughout the six-month term. In addition, HeartCore has received warrants to acquire 2% of SYLA’s common stock, on a fully diluted basis.
Qutoutiao Inc. (NASDAQ: QTT) recently announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission (the “SEC”) on May 2, 2022. The annual report can be accessed on the Company’s investor relations website at https://ir.qutoutiao.net and on the SEC’s website at https://www.sec.gov.
The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to Investor Relations Department, Qutoutiao Inc., Building No. 8, Shanghai Pudong Software Park, 519 Yi De Road, Pudong New Area, Shanghai 200124, People’s Republic of China.
Cyren (NASDAQ: CYRN) recently announced that it has entered into a definitive agreement to divest its legacy Secure Email Gateway business to Content Services Group GmbH for €10,000,000 in cash. The purchase price is subject to certain adjustments and the transaction is expected to close prior to August 31, 2022, with customary closing conditions. The divestment will enable Cyren to focus on its best strategic growth opportunities to deliver optimal value to its customers and shareholders.
“This transaction is fully aligned with our strategy to focus our efforts and resources on products and market opportunities that we believe offer the best growth opportunities for Cyren,” said Brett Jackson, Cyren’s Chief Executive Officer. “The proceeds from this transaction will strengthen our balance sheet, allow us to fund additional growth-related investments and streamline our product line and overall business. We believe that Content Services Group is a good strategic fit for this business, will be a good home for our team members associated with the business, and is committed to continuing to support the products and customers.
Energy Focus, Inc. (NASDAQ: EFOI) recently announced it will showcase its three core product lines at LightFair 2022, to be held at the Las Vegas Convention Center on June 21-23, 2022.
The products taking center stage at the Energy Focus booth, #2055, will be:
EnFocus™: With “Simple, Secure Healthy Light” the EnFocus™ Circadian Lighting System provides effortless circadian lighting with simple solutions for color tuning and control. EnFocus™ delivers autonomous or manual control of human-centric lighting applications over existing wire lines, and its simple retrofit or new construction installation is the hallmark of power line control lighting solutions that are network safe, sustainable, and less costly than other dimming and color tuning systems.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by SciSparc Ltd. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org – +1(561)325-8757