Biotech Stock Soars on Marijuana JV

    Radient Technologies Inc. (CVE:RTI), a biotech stock, shot up after announcing a Memorandum of Understanding with Aurora Cannabis Inc. (CVE:ACB)

    Sean Mason | December 14, 2016 | SmallCapPower

    Marijuana talk was smoking hot for one biotech stock Wednesday. Here’s some small stocks making big moves on Wednesday, December 14, 2016 (as of 4 pm EST):

    Biotech stock Radient Technologies Inc. (CVE:RTI) surged 107% to $0.31 on Wednesday after announcing that it has signed a Memorandum of Understanding with Aurora Cannabis Inc. (CVE:ACB) to evaluate an exclusive partnership for the Canadian market with regard to the joint development and commercialization of superior and standardized cannabinoid extracts, which would also involve an investment of up to $2 million into Radient by means of a convertible debenture.

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    As well, shares of Merus Labs International Inc. (TSE:MSL) slid 21% to $1.10 as the specialty pharmaceutical company said stronger than anticipated sales in 2016 were offset by increased cost of goods and operating expenses, resulting in Adjusted EBITDA at the lower end of guidance.

    Toro Oil & Gas Ltd. (CVE:TOO), meanwhile, reported that it has agreed to be acquired by Steelhead Petroleum Ltd. for $0.37 per share in cash. Toro Oil & Gas stock popped 60% to $0.36 following the announcement.

    Finally, Zecotek Photonics Inc. (CVE:ZMS) shares climbed 11% to $0.295 as the developer of leading-edge photonics technologies for industrial, healthcare and scientific markets announced that it has been approached by a major European automobile manufacturer to jointly integrate a 3D display system into a head-up display (HUD) and entertainment console, based on its patented 3D auto stereoscopic display technology.

    To find out more about Zecotek Photonics Inc., please visit the company’s Investor Hub.

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

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