Biopharma Stock Climbs on Study Findings

Aurinia Pharmaceuticals Inc. (TSE:AUP), a biopharma stock, moved higher following Lupus Nephritis study findings

Sean Mason | November 16, 2016 | SmallCapPower

Lupus Nephritis study results boosted a biopharma stock Wednesday. Here’s some small stocks making big moves on Wednesday, November 16, 2016 (as of 4 pm EST):

Biopharma stock Aurinia Pharmaceuticals Inc. (TSE:AUP) shot up as much as 26% before closing up to 5% to $5.44 on Wednesday after the Company highlighted additional findings from its global Phase IIb AURA study of voclosporin in the treatment of Lupus Nephritis, which Aurinia said successfully achieved higher complete remission rates and more rapidly in patients with Lupus Nephritis.

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As well, shares of OrganiGram Holdings Inc. (CVE:OGI) gained as much as 17% before falling 11% on the day as the medical marijuana producer said that construction has begun on its fully-funded expansion, which is expected to be completed and operational in the fall of 2017. The expansion is designed to increase total production capacity to approximately 17,235 kg per year of flower, which would support more than $100 million in annual flower sales.

War Eagle Mining Company Inc. (CVE:WAR), meanwhile, reported that it has swung to a Q2 profit of $2.3 million from a loss of $267,000 during the same period last year, due to a recognized $2.4 gain on the sale of its subsidiary, Tres Marias, a zinc-lead-germanium project in Mexico. War Eagle Mining stock moved up 120% to $0.055 following the announcement.

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