Shares of Sirona Biochem Corp (TSXV: SBM), a specialty pharmaceuticals company, experienced a strong upward share price momentum after gaining more than 19% in each of the past two consecutive trading days with huge number of shares exchanging hands. During the last session, SBM was the top performer in the Canadian healthcare sector after climbing 19.4% and ended at its 52-week high of C$0.19 while recording significant volumes of 9.5 million shares. During the past 5-trading sessions, the stock powered 60.9% higher with daily average trading volumes of 3.4 million shares compared with one month daily average trading volumes of 898,759 shares. The stock is up 28 year-to-date. Recently, SBM announced the success of the first batch of compound in the joint venture with Bloom Burton & Co. Compounds developed within the framework of the joint venture (JV) will be entering development in the areas of rare inflammatory and infectious diseases. SBM and Bloom Burton are engaged in identifying and designing a library of compounds to address the unmet market needs of rare or neglected inflammatory diseases and bacterial resistance substantial.
Company Description:
Sirona Biochem Corp (TSXV: SBM) is a biopharmaceutical company dedicated to the discovery and development of drug compounds. The company’s focus is on treatments for Type II Diabetes and Obesity.
1-Year Stock Chart:
Source: Bloomberg
