A skincare industry licensing agreement lifted a biotech stock Wednesday. Here’s some small stocks making big moves on Wednesday, February 6, 2019 (as of 4 pm EST):
Sirona Biochem Corp. (TSXV:SBM), a biotech stock, shot up 32% to $0.125 on Wednesday after announcing that it has signed a Right of First Refusal (ROFR) agreement with an industry-leading, skincare company to license Sirona’s skin lightener, TFC-1067. Sirona added that it has received an up-front payment for the acceptance of the ROFR. Financial terms were not disclosed.
As well, shares of Distinct Infrastructure Group Inc. (TSXV:DUG) sank 44% to $0.10 as the company said that as of September 30, 2018, it was in violation of certain financial covenants contained in its Revolving Loan and Term Loan dated November 21, 2017.
ATS Automation Tooling Systems Inc. (TSX:ATA), meanwhile, reported a 16% increase in its third-quarter revenue to $321.4 million, while earnings from operations for the quarter were $38.5 million, compared with $14.8 million during the same period year. ATS Automation Tooling Systems stock moved up 17% to $19.01 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.