Canadian Biotech Stock Plunges on Study Results

Resverlogix Corp. (TSX:RVX), a Canadian biotech stock, sank after announcing that BETonMACE did not meet the primary endpoint

Sean Mason | September 30, 2019 | SmallCapPower

Disappointing cardiovascular study results had many investors fleeing a Canadian biotech stock Monday. Here’s some small stocks making big moves on Monday, September 30, 2019 (as of 4 pm EST):

Resverlogix Corp. (TSX:RVX), a Canadian biotech stock, plummeted 69% to $0.67 on Monday after announcing that BETonMACE did not meet the primary endpoint, which was the reduction in major adverse cardiovascular events, defined as cardiovascular death, non-fatal myocardial infarction and stroke.

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As well, shares of Doubleview Capital Corp. (TSXV:DBV) gained 31% to $0.105 as the junior explorer said it is in the process of re-opening its Hat Camp in preparation for resumption of core drilling at the Hat gold-copper porphyry project in British Columbia.

Juggernaut Exploration Ltd. (TSXV:JUGR), meanwhile, reported results from the 2019 diamond drilling program on its Midas and Empire properties in British Columbia, which included 6.22 metres of 0.313 grams per tonne (g/t) gold. Juggernaut Exploration stock dropped 63% to $0.015 following the announcement.

Finally, Fire & Flower Inc. (TSX:FAF) shares eased 6% to $1.19 after the Horizons ETFs announced that it recently added Fire & Flower stock to its HMMJ portfolio.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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

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