Biotech Stock Soars on Vaccine Discovery

Sean Mason | March 29, 2016 | SmallCapPower

A potential cancer treatment breakthrough sparked much speculation Tuesday, while financial questions weakened a healthcare name. Here’s some small stocks making big moves on Tuesday, March 29, 2016 (as of 4 pm EST):

BCT logoBriaCell Therapeutics Corp. (TSXV: BCT) shares powered 177% higher to $0.36 on Tuesday after the immuno-oncology biotechnology company announced that it has discovered a gene signature potentially explaining why its BriaVax cancer vaccine was exceptionally efficacious in a clinical trial subject with Stage IV breast cancer.

As well, shares of Concordia Healthcare Corp. (TSX: CXR) slipped 9% to $30.10 as the international pharmaceutical company focused on legacy pharmaceutical products and orphan drugs said it is providing information to correct inaccuracies and misstatements that appeared in a recent media report concerning its 2015 audited financial results. The media report, citing an unnamed source, attributes a claim from a research provider that Concordia’s auditor, PricewaterhouseCoopers LLP is `looking closely at 4Q’.

Lithium Americas Corp. (TSX: WLC), meanwhile, reported that it has entered into a definitive agreement with Sociedad Química y Minera de Chile S.A. (NYSE: SQM) for a 50/50 joint venture on the Cauchari-Olaroz lithium project in Argentina. Lithium Americas stock eased 2% to $0.465 following the announcement.

In addition, shares of Sirios Resources Inc. (TSXV: SOI) jumped 12% to $0.235 after the gold project developer released partial assay results from Drill Hole #52, which included 12.08 g/t gold over 20.3 metres.

Finally, Kootenay Silver Inc. (TSXV: KTN) shares rose 4% to $0.275 after the junior explorer announced that it has signed an agreement with Coeur Capital, Inc. to acquire its 2.5% net smelter return royalty on future production from Northair Silver Corp.’s La Cigarra project in Mexico. Kootenay is in the process of acquiring Northair Silver.

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