Canadian Biopharma Stock Soars on Trial Results

Aurinia Pharmaceuticals Inc. (TSX:AUP), a Canadian biopharma stock, rocketed higher after announcing results from its AURORA Phase 3 trial of voclosporin

Sean Mason | December 5, 2019 | SmallCapPower

Statistically-significant Phase 3 trial results sent a Canadian biopharma stock surging Thursday. Here’s some small stocks making big moves on Thursday, December 5, 2019 (as of 4 pm EST):

Aurinia Pharmaceuticals Inc. (TSX:AUP), a Canadian biopharma stock, powered 78% higher to $19.75 on Thursday after announcing results from its AURORA Phase 3 trial of voclosporin, in combination with mycophenolate and low-dose corticosteroids, in the treatment of lupus nephritis, which the Company said achieved “statistically significant improvements.” Aurinia added that it plans to file an NDA submission to the FDA during the first half of 2020.

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As well, shares of Zenabis Global Inc. (TSX:ZENA) slipped 3% to $0.185 as the Canadian cannabis company said its cultivation output in October 2019 increased 71% over the September yield, totaling 3,586 kg of dried cannabis, although this fell slightly short of its forecast of 3,758 kg.

Select Sands Corp. (TSXV:SNS), meanwhile, reported that its wholly-owned  subsidiary, Select Sands America Corp., has entered into a three-year supply agreement with a large-cap exploration and production company in The Eagle Ford Basin. Select Sands stock moved up 100% to $0.03 following the announcement.

Finally, QMX Gold Corporation (TSXV:QMX) shares rose 33% to $0.06 after the junior explorer announced the first results from its Fall drilling campaign on the Bonnefond deposit in Quebec, which included 10.66 g/t gold over 11.2 metres.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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