Biotech Stock Jumps on Study Results

Vaxil Bio Ltd. (TSXV:VXL), a biotech stock, shot up after announcing that it has achieved “positive results” for its immunogenicity study

Sean Mason | September 8, 2020 | SmallCapPower

“Positive” study results produced healthy gains for a Canada-listed biotech stock Tuesday. Here’s some small stocks making big moves on Tuesday, September 8, 2020 (as of 4 pm EST):

Vaxil Bio Ltd. (TSXV:VXL), a biotech stock, surged 50% to $0.12 on Tuesday after announcing that it has achieved “positive results” for the in vivo (animal) immunogenicity study that began on July 14, 2020, which was designed to evaluate the immune response to CorVax.

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As well, shares of FluroTech Ltd. (TSXV:TEST) soared 240% to $0.34 as the company confirmed what it called “successful function” of its real-time, point-of-care saliva-based immunoassay for detecting active COVID-19 infections.

Waverley Pharma Inc. (TSXV:WAVE), meanwhile, reported that its wholly-owned Barbadian subsidiary has signed a term sheet with Reliance Life Sciences Private Limited, which would give the Company the exclusive right to commercialize six additional generic oncology products in the United States. Waverley Pharma stock popped 21% to $0.175 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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