Shares of Stellar Biotechnologies Inc (TSXV: KLH), a biotechnologies company, experienced a strong upward share price momentum after rallying over 48% in the past two days. We note that the stock has registered gains of more than 15% in each of the past two trading sessions with significant number of shares exchanging hands. During the last trading session, KLH was the top gainer in the Canadian healthcare sector after climbing 28.3% and closed at C$1.45 while recording significant volumes of 1.2 million shares. Moreover, in the past 5-trading sessions, KLH has gained 43.5% while recording daily average trading volumes of 388,178 shares. The stock has been on an uptrend since it touched its 52-week low of C$0.73 during July and has accumulated gains of over 57% in the last one month with daily average trading volume of 198,813 shares.
Recently, the company reported strong third quarter results for fiscal 2014. For the quarter, KLH reported 40% increase in revenues to $102,581 compared to same quarter last year. The company reported net income of $1.81 million for the third quarter of 2014 compared to net loss of $1.17 million in the year ago quarter. Moreover, cash and cash equivalents increased to $14.8 million compared to $7.9 million reported in the last year quarter.
Company Description:
Stellar Biotechnologies Inc (TSXV: KLH) is a biotechnology company. The company produces components of therapeutic vaccines used to treat cancer, hypertension, arthritis, drug addiction and other serious chronic diseases.
1-Year Stock Chart:
Source: Bloomberg
