SciSparc’s stock stays hot after biopharmaceutical company sets merger deal

SciSparc Ltd.’s stock SPRC was up 74% on Friday, two days after the clinical-stage biopharmaceutical company said it agreed to merge with an unnamed company in Israel. The stock has rallied by about 95% so far this week. SciSparc said Wednesday it agreed to merge with an Israel-based vehicle-import company in the form of a reverse-triangular merger. SciSparc will set up a new wholly-owned Israeli subsidiary, which would in turn merge with and into a target company as the surviving company. SciSparc plans to transfer its technologies and product candidates to a separate legal entity. It will then explore the possible distribution…