Biotech Junior Moves Higher on Cannabis Therapy

Revive Therapeutics Ltd. (TSXV: RVV), a biotech junior, shot up after announcing the development of cannabinoid-based therapeutics

Sean Mason | February 16, 2017 | SmallCapPower

Cannabinoid-based therapeutics was welcomed news for one biotech junior Thursday. Here’s some small stocks making big moves on Thursday, February 16, 2017 (as of 4 pm EST):

Revive Therapeutics Ltd. (TSXV: RVV) shares climbed 61% to $0.225 on Thursday after the biotech junior announced that it is expanding its product pipeline through the development of cannabinoid-based therapeutics targeting liver diseases.

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As well, shares of Primero Mining Corp. (TSX: P) slipped 13% to $1 as the precious metals miner announced that unionized employees at its San Dimas mine in Mexico have initiated a strike action, resulting in the complete stoppage of mining and milling activities at the site.

NexJ Systems Inc. (TSX: NXJ), meanwhile, reported that its fourth-quarter revenue rose 21% to $9.6 million, while swinging to a profit of $1.9 million in the quarter from a net loss of $2.0 million during the same period last year. NexJ Systems stock moved up 17% to $4.39 following the announcement.

Finally, Ivrnet Inc. (TSXV: IVI) shares gained 14% to $0.04 after the software and communications company that provides online management of operations and financial processing for membership driven organizations announced the signing and financing of seven new contracts for its Ivrnet Central membership management software.

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