Canadian Tech Stock Powers Higher on Sprint Selection

DragonWave Inc. (TSE:DWI), a Canadian tech stock, climbed after announcing a Sprint equipment deal

Sean Mason | October 20, 2016 | SmallCapPower

A Canadian tech stock raced higher after an agreement with Sprint. Here’s some small stocks making big moves on Thursday, October 20, 2016 (as of 4 pm EST):

Canadian tech stock DragonWave Inc. (TSE:DWI) surged 91% to $5.65 on Thursday after the supplier of packet microwave radio systems for next-generation IP networks announced that Sprint has selected its microwave backhaul equipment for network deployment as part of the company’s densification and optimization strategy.

As well, shares of Quest PharmaTech Inc. (CVE:QPT) jumped 90% to $0.095 as the biopharmaceutical company said its subsidiary, OncoQuest Inc., has released “positive” results from its pre-clinical pharmacology studies using its Anti-MUC1 antibody, MAb AR20.5, against pancreatic cancer in a human MUC1 expressing transgenic mouse model.

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Leading Edge Materials Corp. (CVE:LEM), meanwhile, reported the discovery of its first lithium project, Bergby, located in central Sweden. Analytical results for the first 27 boulder samples have been received, and average 0.85% Li2O (lithium oxide) and range from 0.08% Li2O to 2.3% Li2O. Leading Edge Materials stock moved up 30% to $0.45 following the announcement.

Finally, Theralase Technologies Inc. (CVE:TLT) shares climbed 13% to $0.40 after the biotech company announced that Health Canada has granted it Investigational Testing Authorization approval to use its patent pending TLC-3200 Photo Dynamic Therapy Laser System and TLC-3400 Dosimetry Fibre Optic Cage to begin a Phase Ib clinical trial for the treatment of Non-Muscle Invasive Bladder Cancer.

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