Biopharma Stock Jumps on Licensing Agreement: Sean Mason’s Canadian Small Cap Market Movers

Sean Mason | October 28, 2015 |
SmallCapPower

A pharma
licensing deal made more than a few shareholders happy Wednesday while a tiny
healthcare stock suffered following a botched financing. Here’s some small
stocks making big moves on Wednesday, October 28, 2015 (as of 4 pm EST):

Telesta Therapeutics Inc. (TSX:
TST
) shares climbed 13% to $0.43 on volume of more than 3 million shares
Wednesday after the biopharmaceutical company announced that it has entered
into an exclusive licensing agreement with Ipsen to develop and commercialize
MCNA for the treatment of high risk non-muscle invasive bladder cancer in
all countries of the world, with the exception of the United States, where
Telesta is establishing commercial operations, Canada, South Africa, Mexico,
South Korea and Japan.

As well,
shares of Quantum International Income
Corp.
(TSXV:
QIC
) plunged 61% to $0.07 as the healthcare company said it was not able
to satisfy the Release Conditions in regards to its prospectus offering of
47,620,000 subscription receipts of the Corporation at a price of $0.42 per
Subscription Receipt, which closed on July 28, 2015. Thus, Quantum is obligated
to return the funds to investors and will not be able to proceed with its proposed
acquisition of Columbus Hospital LTACH.  

Peruvian Precious Metals Corp. (TSXV:
PPX
), meanwhile, provided an update on its Igor Project test mining and
bulk sampling project in Peru. The company added that the permitting
process is nearly complete and it is on schedule to begin shipping bulk samples
during the first quarter of 2016. Peruvian Precious Metals stock moved up 31%
to $0.085 following the announcement.

Finally, VIQ Solutions Inc. (TSXV:
VQS
) shares gained 11% to $0.05 after the digital recording technology
provider announced that its South Africa-based reseller, Digital Voice
Processing, has been selected by the Judicial Services Commission of Zimbabwe to
provide a digital audio capture and management solution for their magistrate’s
courtrooms.

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