Biotech Stock Surges on U.S. FDA Update

    Spectral Medical Inc. (TSE:EDT), a biotech stock, moved higher after announcing that the United States FDA has accepted its rolling PMA application

    Sean Mason | July 24, 2017 | SmallCapPower

    Another step further in the United States Food and Drug Administration approval process was encouraging news for investors in a biotech stock Monday. Here’s some small stocks making big moves on Monday, July 24, 2017 (as of 4 pm EST):

    Spectral Medical Inc. (TSX: EDT), a biotech stock, climbed 9% to $0.435 on Monday after announcing that the United States Food and Drug Administration (FDA) has accepted its rolling PMA application for Toraymyxin, for treating patients with septic shock, for review. The acceptance of the filing means that the FDA has made a threshold determination that the application is sufficiently complete to permit a substantive review.

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    As well, shares of Tembec Inc. (TSX: TMB) added 9% at $4.66 as Florida’s Rayonier Advanced Materials said it has raised its offer price for the Montreal forest-product company by 17% to $4.75 a share, in a deal valued at $475-million excluding debt.

    Nicola Mining Inc. (TSXV: NIM), meanwhile, reported what the Company called positive results of an Induced Polarization (IP) geophysical survey over Promontory Hill, an area of high interest on its wholly-owned New Craigmont Project in British Columbia. Nicola Mining stock moved up 2% to $0.23 following the announcement.

    Finally, Siyata Mobile Inc. (TSXV: SIM) shares gained 11% to $0.69 after the cellular communications systems provider announced that it has begun the technical device approval process for its Uniden UV350 4G/LTE in-vehicle connected cellular device with a Tier 1 operator in the United States.

    To find out more about Nicola Mining Inc.please visit the company’s Investor Hub.

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    Ubika Research/SmallCapPower has received compensation from Nicola Mining to provide analyst research coverage. For full disclosure please visit here >>

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