An oversees distribution agreement powered a Canadian biopharma stock sharply higher Wednesday. Here’s some small stocks making big moves on Wednesday, October 30, 2019 (as of 4 pm EST):
Tetra Bio-Pharma Inc. (TSXV:TBP), a Canadian biopharma stock, surged 27% to $0.235 on Wednesday after its wholly-owned subsidiary announced that it has signed a Binding Term Sheet with Azevedos Indústria Farmacêutica, S.A. for the distribution of Awaye in Portugal, Tunisia, and Mozambique. Awaye is a topical product to help relieve local pain in patients with both acute and chronic pain.
As well, shares of Almaden Minerals Ltd. (TSX:AMM) slipped 12% to $0.73 as the resource junior said it was notified by SEMARNAT, Mexico’s environmental authority, that the permitting process for the Ixtaca project has been suspended pending resolution of the mineral title lawsuit reported by the Company on September 10 and April 15, 2019.
North American Construction Group Ltd. (TSX:NOA), meanwhile, reported third-quarter revenue that rose 96% to $166.3 million, while Adjusted net earnings for the quarter was $10.5 million, $5.9 million higher than during the same period last year. Both revenue and earnings surpassed the analyst consensus estimates. North American Construction Group stock moved up 8% to $15.73 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Tetra Bio-Pharma Inc. (TSXV:TBP), a Canadian biopharma stock, surged 27% to $0.235 on Wednesday after its wholly-owned subsidiary announced that it has signed a Binding Term Sheet with Azevedos Indústria Farmacêutica, S.A. for the distribution of Awaye in Portugal, Tunisia, and Mozambique. Awaye is a topical product to help relieve local pain in patients with both acute and chronic pain.
