Hemp CBD Stock Jumps on Sales Approval

EastWest Bioscience (TSXV:EAST), a hemp CBD stock, moved sharply higher after receiving approval to sell its CBD products in Kentucky

Sean Mason | April 10, 2019 | SmallCapPower

A TSX Venture Exchange go ahead sparked speculation in a hemp CBD stock Wednesday. Here’s some small stocks making big moves on Wednesday, April 10, 2019 (as of 4 pm EST):

EastWest Bioscience (TSXV:EAST), a hemp CBD stock, climbed 50% to $0.15 on Wednesday after announcing that the TSX Venture Exchange gave the Company its approval to sell EastWest’s products containing CBD in Kentucky.

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As well, shares of Helius Medical Technologies, Inc. (TSX:HSM) plunged 66% to $2.84 as the neurotech company said the U.S. Food and Drug Administration (FDA) has declined the Company’s request for De Novo classification and 510(k) clearance of the Portable Neuromodulation Stimulator device.

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Sirona Biochem Corp. (TSXV:SBM), meanwhile, reported results of its clinical trial conducted in North Carolina, in which Sirona’s TFC-1067 demonstrates “superiority to the gold standard,” hydroquinone, for the treatment of dyschromia (hyperpigmentation), or “dark spots” of the skin. Sirona Biochem stock popped 56% to $0.25 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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