SciSparc Soars 59% on Quantum Computing Drug Discovery Plan
Rally comes amid a court-ordered delay in its proposed merger with AutoMax Motors, shifting focus to its core biotech innovation.
Shares of SciSparc Ltd. (SPRC) skyrocketed 59% in a dramatic session, as investors cheered the company's ambitious new plan to leverage quantum computing for drug discovery. The rally was further complicated by a significant court ruling that has paused the company's planned merger with AutoMax Motors, shifting investor focus squarely onto SciSparc's technological pivot.
The primary catalyst for the surge was SciSparc's announcement of a new initiative to apply quantum algorithms to 3D protein modeling. This cutting-edge approach aims to accelerate AI-driven drug discovery, a move that positions the clinical-stage pharmaceutical company at the forefront of biotech innovation. , signaling a deep investment in advanced technology to solve complex medical challenges.
While the quantum computing news fueled investor optimism, the company is also navigating a complex corporate maneuver. SciSparc's proposed merger with AutoMax Motors, a strategic pivot into the automotive sector, has been halted. An Israeli court until September 2025. The delay was requested by AutoMax itself, which cited concerns over its ability to meet closing conditions following an into its business practices.
The market's bullish reaction suggests investors may be prioritizing the high-growth potential of SciSparc's core pharmaceutical business over the troubled merger. The significant stock price increase, despite the merger's uncertainty, indicates strong support for the company's renewed focus on its technological capabilities in drug development. For now, SciSparc presents a dual narrative: one of a forward-looking biotech innovator and another of a company entangled in a complex merger, with investors clearly betting on the former.