Canadian Biopharma Stock Powers Higher on Update

Liminal BioSciences Inc. (TSX:LMNL), a Canadian biopharma stock, climbed after announcing a fezagepras clinical study update

Sean Mason | July 2, 2020 | SmallCapPower

A COVID-19 and clinical study update propelled a Canadian biopharma stock Thursday. Here’s some small stocks making big moves on Thursday, July 2, 2020 (as of 4 pm EST):

Liminal BioSciences Inc. (TSX:LMNL), a Canadian biopharma stock, surged 62% to $23 on Thursday after announcing that its multiple ascending dose Phase 1 clinical study of fezagepras is expected to be initiated in the second half of 2020. The Company also reported that its Prometic Plasma Resources subsidiary has joined the CoVIg-19 Plasma Alliance to contribute to the acceleration of the development of a potential new therapy for COVID-19.

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As well, shares of Prime Mining Corp. (TSXV:PRYM) gained 9% to $1.42 as the junior explorer revealed sample results from the Company’s ongoing surface exploration program on the Los Reyes project in Mexico, which included 63.0 metres of 1.78 grams per tonne (g/t) gold and 71.0 g/t silver.

Meanwhile, Global Crossing Airlines Inc. (TSXV:JET), formerly Canada Jetlines, reported that it and Breeze Airways have reached an amicable agreement to settle a lawsuit brought by Canada Jetlines in November 2019. Global Crossing Airlines stock flew 39% to $2.55 following the announcement.

Finally, Datametrex AI Limited (TSXV:DM) shares rose 18% to $0.10 after the Artificial Intelligence and Machine Learning focused technology company announced a $2.6 million per annum sales agreement with SeeS Solutions Inc.

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

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