An assertion of a cannabinoid treatment for COVID-19 sparked interest in a Canadian biotech stock Wednesday. Here’s some small stocks making big moves on Wednesday, September 23, 2020 (as of 4 pm EST):
Pascal Biosciences Inc. (TSXV:PAS), a Canadian biotech stock, jumped 21% to $0.17 on Wednesday after announcing that it has confirmed an earlier report that certain cannabinoids block replication of SARS-CoV-2, the coronavirus that causes COVID-19. Pascal added that these studies validate the Company’s plans to develop a cannabinoid treatment for COVID-19.
As well, shares of Aurora Cannabis Inc. (TSX:ACB) sank 29% to $6.90 as the Canadian cannabis company said it experienced a Fiscal 2020 net loss of $3.3 billion, falling short of analyst expectations.
WildBrain Ltd. (TSX:WILD), meanwhile, reported fourth-quarter revenue of $92.9 million, better than the $91.8 million expected by analysts, while swinging to a profit of $0.02 per share from a loss of $0.47 per share a year earlier. WildBrain stock moved up as much as 9% following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
Pascal Biosciences Inc. (TSXV:PAS), a Canadian biotech stock, jumped 21% to $0.17 on Wednesday after announcing that it has confirmed an earlier report that certain cannabinoids block replication of SARS-CoV-2, the coronavirus that causes COVID-19. Pascal added that these studies validate the Company’s plans to develop a cannabinoid treatment for COVID-19.
, on Wednesday.){kind=link}