Cannabinoid Therapeutics Stock Moves Up on Financial Results

Kalytera Therapeutics, Inc. (TSXV:KALY), a cannabinoid therapeutics stock, climbed after announcing second-quarter results

Sean Mason | August 30, 2018 | SmallCapPower

A cannabinoid therapeutics stock got a lift following the release of financial results Thursday. Here’s some small stocks making big moves on Thursday, August 30, 2018 (as of 4 pm EST):

Kalytera Therapeutics, Inc. (TSXV:KALY), a cannabinoid therapeutics stock, moved 18% higher to $0.10 on Thursday after announcing second-quarter net income of approximately US$5.9 million, compared with a net loss of about $1.9 million in the second quarter of 2017, which was attributable primarily to an increase of approximately $8.9 million in financial income in connection with convertible equity and debt instruments previously issued to investors.

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As well, shares of Pioneering Technology Corp. (TSXV:PTE) sank 27% to $0.19 as the cooking fire prevention technology provider said its third-quarter revenue fell 67% to 844,706.

Kraken Robotics Inc. (TSXV:PNG), meanwhile, reported record second-quarter revenue of $3.7 million, up from $0.2 million during the same period last year. The Company added that it expects strong momentum in the second half of 2018 and 2019. Kraken Robotics stock moved up 25% to $0.425 following the announcement.

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

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