SciSparc reported revenue of $840,000 for H1 2024, down from $1.97M in H1 2023, primarily from its Wellution brand nutraceutical business. Operating loss increased 19% to $3.53M, driven by higher R&D expenses of $841,000 and G&A costs of $2.63M. The company ended the period with $2.62M in cash.The company has undertaken several strategic initiatives, including signing an LOI to spin off its pharmaceutical portfolio, entering a patent license agreement for SCI-160, and advancing a merger with AutoMax Motors. SciSparc extended a $4.25M bridge loan to AutoMax and secured a $20M standby equity purchase agreement with YA II PN.Looking ahead, SciSparc plans to sell its 52.73% stake in MitoCareX Bio to a U.S. public company for up to $7M based on milestones. Management indicates additional capital will be required to fund operations and complete product development, with no significant pharmaceutical revenue expected in the near term.

SciSparc reported revenue of $840,000 for H1 2024, down from $1.97M in H1 2023, primarily from its Wellution brand nutraceutical business. Operating loss increased 19% to $3.53M, driven by higher R&D expenses of $841,000 and G&A costs of $2.63M. The company ended the period with $2.62M in cash.The company has undertaken several strategic initiatives, including signing an LOI to spin off its pharmaceutical portfolio, entering a patent license agreement for SCI-160, and advancing a merger with AutoMax Motors. SciSparc extended a $4.25M bridge loan to AutoMax and secured a $20M standby equity purchase agreement with YA II PN.Looking ahead, SciSparc plans to sell its 52.73% stake in MitoCareX Bio to a U.S. public company for up to $7M based on milestones. Management indicates additional capital will be required to fund operations and complete product development, with no significant pharmaceutical revenue expected in the near term.