Biotech Stock Surges on Drug Study Results

Antibe Therapeutics Inc. (TSXV:ATE), a biotech stock, powered higher after announcing that its lead drug met its primary endpoint

Sean Mason | March 20, 2018 | SmallCapPower

Gastrointestinal study results produced healthy returns for a biotech stock Tuesday.  Here’s some small stocks making big moves on Tuesday, March 20, 2018 (as of 4 pm EST):

Antibe Therapeutics Inc. (TSXV:ATE), a biotech stock, soared 78% to $0.64 on Tuesday after announcing that its lead drug, ATB-346, met its primary endpoint in the Phase 2B gastrointestinal safety study.

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As well, shares of Ballard Power Systems (TSX:BLDP) rose 10% to $4.59 as the clean energy products provider said it has signed a contract with CALSTART for a Ballard 30 kilowatt FCveloCity-MD fuel cell module to be used in a trial and development program involving UPS Class-6 delivery vans operating in California’s South Coast Air Basin, including much of the Greater Los Angeles area.

Cardiome Pharma Corp. (TSX:COM), meanwhile, reported that it will sell its Canadian business portfolio to Cipher Pharmaceuticals Inc. (TSX:CPH) for an upfront consideration of C$25.5 million. Cardiome Pharma stock popped 15% to $2.35 following the announcement.

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

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