Biotech Stock Climbs on Recurring Purchase Order

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Avivagen Inc. (CVE:VIV), a biotech stock, jumped after announcing that its partner in the Philippines has purchased a recurring, three-month supply of OxC-beta for Livestock

Sean Mason | August 16, 2017 | SmallCapPower

A purchase order from a Philippines partner injected a bit of buying interest into a biotech stock Wednesday. Here’s some small stocks making big moves on Wednesday, August 16, 2017 (as of 4 pm EST):

Avivagen Inc. (TSXV: VIV), a biotech stock, gained as much as 9% before closing up 4% to $1.20 on Wednesday after announcing that its partner in the Philippines, UNAHCO, has confirmed that it is scaling up, effective immediately, the commercial roll out of Avivagen’s OxC-beta for Livestock by purchasing a recurring, three-month supply at a time of OxC-beta for Livestock, for specific use in swine.

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As well, shares of Atico Mining Corporation (TSXV: ATY) slipped 7% to $0.77 as the resource junior said there has been a temporary work stoppage at the El Roble mine in Colombia pending final inspection of the clean water discharge system.

Aveda Transportation and Energy Services Inc. (TSXV: AVE), meanwhile, reported a nearly 500% surge in its second-quarter revenue to a record $52.1 million, while its net loss for the quarter shrunk to $1.3 million from $9.8 million during the same period last year. Aveda stock moved up 36% to $0.455 following the announcement.

Finally, Berkwood Resources Ltd. (TSXV: BKR) shares rose 10% to $0.46 after the graphite explorer announced that drilling has begun on its Lac Gueret South Graphite Project located in Quebec.

Related: Berkwood Resources Ltd. Set to Drill its Promising Graphite Property, Says Ubika Research 

Ubika Research/SmallCapPower has received compensation from Berkwood Resources Ltd. (TSXV: BKR) to provide analyst research coverage. For full disclosure please visit here >>.

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