Biotech Stock Climbs on Regulatory Clearance: Sean Mason’s Canadian Small Cap Market Movers

Sean Mason | October 29, 2015 |
SmallCapPower

Regulatory
go ahead was great news for a small biotech stock Thursday while a tech name
slid on a deal gone sour. Here’s some small stocks making big moves on Thursday,
October 29, 2015 (as of 4 pm EST):

ProMetic Life Sciences Inc. (TSX:
PLI
) shares jumped 4% to $2.10 on volume of more than 1.9 million shares
Thursday after the biopharmaceutical company reported that the clinical trial
application for its anti-fibrotic lead drug candidate PBI-4050 in patients
suffering from a condition associated with Type 2 diabetes and severe
multi-organ fibrosis has been cleared by the Medicines and Healthcare Products
Regulatory Agency in the United Kingdom.

As well,
shares of Espial Group Inc. (TSX:
ESP
) slid 30% to $2.61 as the developer of TV browser and TV
Everywhere software solutions announced its third-quarter financial results,
revealing that it delivered software licenses for current generation and new 4k
set-top boxes to a channel partner for deployment at a North American cable
operator, although the same operator is currently working on its next
generation platform and does not intend to deploy Espial’s software as
previously contemplated.

Pioneering Technology Corp. (TSXV:
PTE
), meanwhile, reported that the Company’s SmartBurner product is
now available to consumers in the United States through Home Depot. SmartBurner,
according to the Company, not only helps prevent cooking fires, but also
helps reduce energy consumption, improves cooking performance and dramatically
enhances the aesthetics of electric coil stoves and kitchens. Pioneering
Technology stock moved up 100% to $0.19 following the announcement.

Finally, Oncolytics Biotech Inc. (TSX:
ONC
) shares sank 33% to $0.40 after the biotechnology company said its shares
will be de-listed from the Nasdaq Capital Market, effective from the opening of
trading on November 5, 2015, for not maintaining the minimum $1.00 per share
required for continued listing.  

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