SciSparc Ltd., a pharmaceutical company, reported its annual financial performance for the fiscal year ended December 31, 2023. The company, which specializes in the development of cannabinoid-based therapeutics, did not generate revenue from its drug development segment but reported revenues of $2,879,000 from online sales of hemp-based products. The cost of goods sold amounted to $683,000, resulting in a gross profit of $2,196,000. Research and development expenses totaled $1,641,000, while general and administrative expenses reached $5,031,000. The company also recorded an impairment of intangible assets amounting to $1,042,000. SciSparc experienced a net loss of $5,883,000 for the year, with a basic and diluted loss per share of $14.43. The company's share of losses from equity-accounted investments was $210,000. Finance income, primarily from changes in the fair value of financial liabilities, was $2,219,000, and finance expenses, including losses from the remeasurement of investments in financial assets, were $1,055,000. The company's future plans include continuing its drug development efforts and expanding its online sales of hemp-based products.

SciSparc Ltd., a pharmaceutical company, reported its annual financial performance for the fiscal year ended December 31, 2023. The company, which specializes in the development of cannabinoid-based therapeutics, did not generate revenue from its drug development segment but reported revenues of $2,879,000 from online sales of hemp-based products. The cost of goods sold amounted to $683,000, resulting in a gross profit of $2,196,000. Research and development expenses totaled $1,641,000, while general and administrative expenses reached $5,031,000. The company also recorded an impairment of intangible assets amounting to $1,042,000. SciSparc experienced a net loss of $5,883,000 for the year, with a basic and diluted loss per share of $14.43. The company's share of losses from equity-accounted investments was $210,000. Finance income, primarily from changes in the fair value of financial liabilities, was $2,219,000, and finance expenses, including losses from the remeasurement of investments in financial assets, were $1,055,000. The company's future plans include continuing its drug development efforts and expanding its online sales of hemp-based products.