Biopharma Stock Surges on Financial Results

Crescita Therapeutics Inc. (TSX:CTX), a biopharma stock, climbed after announcing a big increase in its fiscal 2018 revenue

Sean Mason | March 21, 2019 | SmallCapPower

An improved financial position produced healthy gains for a biopharma stock Thursday. Here’s some small stocks making big moves on Thursday, March 21, 2019 (as of 4 pm EST):

Crescita Therapeutics Inc. (TSX:CTX), a biopharma stock, powered 31% higher to $0.67 on Thursday after announcing that its fiscal 2018 revenue rose 38% to $16.6 million, while its Adjusted EBITDA of $1.5 million was a $5.9 million improvement from 2017.

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As well, shares of Neovasc Inc. (TSX:NVCN) added 2% at $0.63 as the developer of minimally-invasive devices for the treatment of refractory angina said the Higher Regional Court in Munich, Germany has dismissed the case brought by Edwards Lifesciences CardiAQ LLC against Neovasc in Germany.

Marifil Mines Limited (TSXV:MFM), meanwhile, reported that it has begun work for a mineral resource estimation for the Company’s San Roque property in Argentina. Marifil Mines stock moved up 64% to $0.115 following the announcement.

Finally, Jiulian Resources Inc. (TSXV:JLR) shares gained 5% to $0.105 after the junior explorer announced that it is expanding its Phase I maiden drill program at its wholly-owned Big Kidd Project in British Columbia.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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