Marijuana Stock Sprouts Higher on Regulatory Update

ICC International Cannabis Corporation (CVE:ICC), a marijuana stock, climbed after Uruguay said sales of recreational cannabis will begin in July

Sean Mason | April 7, 2017 | SmallCapPower

A government go ahead was great news for shareholders of a marijuana stock Friday. Here’s some small stocks making big moves on Friday, April 7, 2017 (as of 4 pm EST):

Marijuana stock ICC International Cannabis Corporation (TSXV: ICC) jumped 11% to $1.13 on Friday after the Government of Uruguay announced that it expects sales of recreational cannabis will begin in July 2017, through registered pharmacies.

As well, shares of Prometic Life Sciences Inc. (TSX: PLI) rose as much as 1% before ending unchanged at $2.20 as the biopharmaceutical company said it has received a $9.5 million purchase order for the supply of affinity resin to an existing client.

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Aurinia Pharmaceuticals Inc. (TSX: AUP), meanwhile, reported that it believes that the confirmatory data that can be generated from the single Phase III clinical trial (AURORA) and the recently completed AURA-LV (AURA) Phase IIb study should support regulatory submissions in the U.S., Europe and Japan for the development of voclosporin for the treatment of active lupus nephritis. Aurinia Pharmaceuticals stock moved up 7% to $9.44 following the announcement.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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