Cannabis Biopharma Stock Surges on R&D Agreement

Tetra Bio-Pharma Inc. (TSXV:TBP), a cannabis biopharma stock, climbed after announcing that it has signed a research and development agreement with Constance Therapeutics

Sean Mason | December 14, 2017 | SmallCapPower

A drug development deal pushed a cannabis biopharma stock sharply higher Thursday. Here’s some small stocks making big moves on Thursday, December 14, 2017 (as of 4 pm EST):

Tetra Bio-Pharma Inc. (TSXV:TBP), a cannabis biopharma stock, powered 24% higher to $1.02 on Thursday after announcing that it has signed an exclusive research and development agreement with Constance Therapeutics for the pharmaceutical drug development, and eventual commercialization in Canada, of their medicinal cannabis extract products.

As well, shares of Internet of Things Inc. (TSXV:ITT) slipped 4% to $0.12 as the software and solutions provider to the Internet of Things market said it has formed a new subsidiary, Blockchain of Things Inc.

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LGC Capital Ltd. (TSXV:LG), meanwhile, reported that it has now received confirmation from the Australian Government’s Office of Drug Control to increase its interest in Medical Cannabis company Habi Pharma Pty Ltd, doing business as Little Green Pharma, above 4.99% and is now increasing its strategic interest to 11.91%. Little Green Pharma just began planting its first medical cannabis crop in Australia. LGC Capital stock popped 11% to $0.45 following the announcement.

Finally, Wavefront Technology Solutions Inc. (TSXV:WEE) shares jumped 27% to $0.285 after the provider of fluid injection technology for oil and gas well stimulation and oil recovery announced that a new, seven well Powerwave Odyssey custom stimulation campaign has been initiated in the Kingdom of Saudi Arabia.

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Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.

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