Advanced Proteome Therapeutics Corporation (TSXV:APC), a biotech stock, moved up after announcing test results on its leading antibody-drug conjugate candidate
Further validation for a cancer drug candidate sparked speculation in a biotech stock Tuesday. Here’s some small stocks making big moves on Tuesday, May 1, 2018 (as of 4 pm EST):
Advanced Proteome Therapeutics Corporation (TSXV:APC), a biotech stock, climbed 50% to $0.06 on Tuesday after announcing that test results on its leading antibody-drug conjugate candidate, which had previously demonstrated potency against cancer cell lines as announced by its Heidelberg Pharma partners in January, has been replicated and substantiated by an independent laboratory (National Research Council of Canada). The Company added that it is positioned for final scale-up and animal testing during the fourth quarter.
As well, shares of PentaNova Energy Corp. (TSXV:PNO) slid 24% to $0.065 as the oil and gas junior said it plans to streamline its operations to reduce its burn rate through cost savings and head count reduction initiatives, which could include a share consolidation.
DIRTT Environmental Solutions Ltd. (TSX:DRT), meanwhile, reported a 24% increase in its first-quarter revenue to $15.7 million, while swinging to a profit of $0.04 a share from a $0.02 loss during the same period last year. DIRTT Environmental stock moved up 13% to $6.34 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Advanced Proteome Therapeutics Corporation (TSXV:APC), a biotech stock, climbed 50% to $0.06 on Tuesday after announcing that test results on its leading antibody-drug conjugate candidate, which had previously demonstrated potency against cancer cell lines as announced by its Heidelberg Pharma partners in January, has been replicated and substantiated by an independent laboratory (National Research Council of Canada). The Company added that it is positioned for final scale-up and animal testing during the fourth quarter.
