Canadian Biopharma Stock Soars on COVID-19 Vaccine Update

IMV Inc. (TSX:IMV), a Canadian biopharma stock, jumped after announcing further details on its COVID-19 vaccine candidate

Sean Mason | July 14, 2020 | SmallCapPower

“Rapid progress” towards a COVID-19 vaccine candidate sparked a Canadian biopharma stock Tuesday. Here’s some small stocks making big moves on Tuesday, July 14, 2020 (as of 4 pm EST):

IMV Inc. (TSX:IMV), a Canadian biopharma stock, surged 57% to $6.35 on Tuesday after announcing further details on what the Company calls “rapid progress” in developing its candidate vaccine to prevent COVID-19 infection, which includes an agreement with Health Canada on a Phase 1 clinical study design protocol that also includes patients 56 years and older.

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As well, shares of Calfrac Well Services Ltd. (TSX:CFW) fell 18% to $0.14 as the provider of specialized oilfield services said it has obtained a preliminary court order to restructure certain debt obligations, which would lead to a recapitalization transaction.

Pascal Biosciences Inc. (TSXV:PAS), meanwhile, reported that it has discovered certain cannabinoids that block replication of SARS-CoV-2, the coronavirus that causes COVID-19. Pascal Biosciences stock popped 26% to $0.315 following the announcement.

Finally, Northern Vertex Mining Corp. (TSXV:NEE) shares gained 6% to $0.37 after the junior precious metals miner announced record production of 11,365 gold equivalent ounces in addition to record revenue of US$18.2 million for the quarter ended June 30 from its 100% owned Moss Gold Mine in Arizona.

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

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