Biotech Stock Moves Higher on FDA Meeting

iCo Therapeutics (CVE:ICO), a biotech stock, rose after announcing that it will hold a pre IND meeting with the U.S. Food and Drug Administration (FDA)

Sean Mason | June 16, 2017 | SmallCapPower

A pre IND meeting with the U.S. Food and Drug Administration (FDA) was a dose of good news for a biotech stock Friday. Here’s some small stocks making big moves on Friday, June 16, 2017 (as of 4 pm EST):

iCo Therapeutics (TSXV: ICO), a biotech stock, climbed 25% to $0.05 on Friday after announcing that it will hold a pre IND meeting with the Division of Transplantation and Ophthalmology, U.S. Food and Drug Administration (FDA) on June 21, 2017, in which discussions will focus on a proprietary dual action glaucoma asset with a novel mechanism of action that reduces intraocular pressure.

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As well, shares of Prometic Life Sciences Inc. (TSX: PLI) slipped 11% to $1.65 as the biopharmaceutical company said it has entered into a $53.125 million bought-deal financing agreement at a price of $1.70 per share.

dynaCERT Inc. (TSXV: DYA), meanwhile, reported that it has signed multiple dealership agreements in Europe, in which the dealers will stock and resell the HydraGEN products in their local markets. dynaCERT stock moved up as much as 9% before ending 3% higher at $0.82 following the announcement.

Finally, ID Watchdog, Inc. (TSXV: IDW) shares powered 70% higher to $0.51 after the provider of consumer-facing identity theft protection and resolution services announced that it has agreed to be acquired by a subsidiary of Equifax Inc. for US$63,335,000 in cash, or about US$0.40 per share.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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