Biotech Stock Climbs on Clinical Study Update

iCo Therapeutics Inc. (TSXV:ICO), a biotech stock, moved up after announcing that it has dosed the first patient in its Phase 1 clinical study for Oral Amphotericin B

Sean Mason | April 18, 2018 | SmallCapPower

A dose of good news yielded a healthy return for a Canadian biotech stock Wednesday. Here’s some small stocks making big moves on Wednesday, April 18, 2018 (as of 4 pm EST):

iCo Therapeutics Inc. (TSXV:ICO), a biotech stock, gained 33% to $0.04 on Wednesday after announcing that it has dosed the first patient in its Phase 1 clinical study for Oral Amphotericin B for treatment of fungal and parasitic infections. The Company added that it remains on track to complete dosing of patients in the Phase 1 study by the end of Q2 2018.

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As well, shares of Energold Drilling Corp. (TSXV:EGD) slid 22% to $0.375 as the specialty drilling company said some excess rig capacity in the industry in 2017 impacted pricing, which weighed on the Company’s 2017 financial results.

Painted Pony Energy Ltd. (TSX:PONY), meanwhile, reported that the discovery test results for the first Montney horizontal well drilled on the Beg block averaged an estimated rate over 2,000 boe/d including 10 MMcf/d of natural gas and an estimated 360 bbls/d of liquids. Painted Pony Energy stock moved up 5% to $2.29 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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