Biotech Stock Power Higher on Coronavirus Vaccine Patent

Vaxil Bio Ltd. (TSXV:VXL), a biotech stock, rose after submitting a new patent application for its Coronavirus vaccine platform

Sean Mason | March 10, 2020 | SmallCapPower

A new patent application pertaining to a Coronavirus vaccine candidate propelled a biotech stock Tuesday. Here’s some small stocks making big moves on Tuesday, March 10, 2020 (as of 4 pm EST):

Vaxil Bio Ltd. (TSXV:VXL), a biotech stock, climbed 22% to $0.14 on Tuesday after announcing that it has submitted a new patent application for its anti-infective vaccines platform as a result of its recently-announced Coronavirus (COVID19) candidate discovery.

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As well, shares of Horizon North Logistics Inc. (TSX:HNL) surged 26% to $0.73 as the provider of industrial, commercial, and residential products and services said it has agreed to acquire Dexterra Integrated Facilities Management, a wholly-owned subsidiary of Fairfax Financial Holdings Limited, in an all-stock transaction that would see Fairfax owning 49% of Horizon North shares on a fully-diluted basis. Dexterra had more than $260 million in revenue with EBITDA of $16.5 million in 2019.

Correvio Pharma Corp. (TSX:CORV), meanwhile, reported that it has partnered with privately-held Hong Kong Teson Pharma Limited for the commercialization of Aggrastat, covering the territories of mainland China and Macau. Aggrastat is Correvio’s marketed asset for the reduction of thrombotic cardiovascular events in patients with acute coronary syndrome. Correvio Pharma stock moved up 17% to $0.61 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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