Canadian Biotech Stock Jumps on COVID-19 Measurement

StageZero Life Sciences, Ltd. (TSX:SZLS), a Canadian biotech stock, moved higher after announcing that it is set to offer testing for COVID-19

Sean Mason | March 31, 2020 | SmallCapPower

Pending COVID-19 testing was good news for investors in a Canadian biotech stock Tuesday. Here’s some small stocks making big moves on Tuesday, March 31, 2020 (as of 4 pm EST):

StageZero Life Sciences, Ltd. (TSX:SZLS), a Canadian biotech stock, powered 86% higher to $0.065 on Tuesday after announcing that it is preparing to offer testing for COVID-19 in both the U.S. and Canada. The Company added that it will offer both the serology point-of-care and lab-based PCR tests.

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As well, shares of Park Lawn Corporation (TSX:PLC) slipped 17% to $16.50 as the deathcare services provider said its Q4 Adjusted Net Earnings per share on a fully-diluted basis fell 23.8% to $0.16. The Company added that it has increased overhead expenses in both its Toronto and Houston support offices as it integrates its acquisitions during 2019, which has had a “short term drag on earnings.”

The Flowr Corporation (TSXV:FLWR), meanwhile, reported that its wholly-owned subsidiary in Europe has received its Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Sintra, Portugal. The Flowr Corp. stock moved up 21% to $0.76 following the announcement.

Finally, Tinkerine Studios Ltd. (TSXV:TTD) shares rose 14% to $0.16 after the provider of 3D printing products announced the receipt of additional orders of Tinkerine’s Face Shield Version 9 and has now received inquiries for more than 35,000 Face Shields.

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

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