A positive COVID-19 testing development produced healthy gains for a Canadian biotech stock Friday. Here’s some small stocks making big moves on Friday, April 24, 2020 (as of 4 pm EST):
MedMira Inc. (TSXV:MIR), a Canadian biotech stock, continued to move higher Friday, up 70% to $0.255 following a 131% gain on Thursday, after announcing that it had submitted the notification for the Emergency Use Authorization application offered by the U.S. Food and Drug Administration (FDA) for its newest member of its Reveal line of products for antibody testing. The FDA policy permits MedMira to begin U.S. sales of REVEALCOVID-19 total antibody test immediately while it awaits FDA clearance under Emergency Use Authorization.
As well, shares of Arch Biopartners Inc. (TSXV:ARCH) rose 42% to $1.28 as the biopharma company said it has submitted a Clinical Trial Application to Health Canada for a Phase II human trial for its lead drug Metablok (LSALT peptide) to prevent lung and kidney inflammation in patients with COVID-19.
Facedrive Inc. (TSXV:FD), meanwhile, reported that its Fiscal 2019 revenue rose to $599,104 from $13,579 during 2018. The Company operates a peer-to-peer, eco-friendly and socially responsible ride-sharing network. Facedrive stock moved up 20% to $4.93 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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MedMira Inc. (TSXV:MIR), a Canadian biotech stock, continued to move higher Friday, up 70% to $0.255 following a 131% gain on Thursday, after announcing that it had submitted the notification for the Emergency Use Authorization application offered by the U.S. Food and Drug Administration (FDA) for its newest member of its Reveal line of products for antibody testing. The FDA policy permits MedMira to begin U.S. sales of REVEALCOVID-19 total antibody test immediately while it awaits FDA clearance under Emergency Use Authorization.
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