Cynapsus Therapeutics Inc. (TSE:CTH), a biopharma stock, popped after agreeing to be acquired by Sunovion Pharmaceuticals Inc.
Sean Mason | September 1, 2016 | SmallCapPower
A takeover deal generated a healthy return for investors in one biopharma stock Thursday. Here’s some small stocks making big moves on Thursday, September 1, 2016 (as of 4 pm EST):
Cynapsus Therapeutics Inc. (TSE:CTH) shares soared 112% to $51.98 on Thursday after the pharmaceutical company specializing in the central nervous system announced that it has agreed to be acquired by Sunovion Pharmaceuticals Inc. for US$40.50 per share in cash.
As well, shares of Goldgroup Mining Inc. (TSE:GGA) gained 16% to $0.32 as the gold explorer/project developer said it has received favourable results and award from the conclusion of the arbitration between Goldgroup and Dyna USA, Inc.
Terra Nova Energy Ltd. (CVE:TGC), meanwhile, reported that it has entered into a Farmout Agreement with Zeta Petroleum (Romania) S.R.L. to acquire up to an 80% participating interest in the Bobocu License, onshore Romania. Terra Nova Energy stock moved up 33% to $0.04 following the announcement.
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