Medical Tech Penny Stock Jumps on Study Results

Neovasc Inc. (TSE:NVC), a medical tech penny stock, moved higher after positive results were published in The Netherlands Heart Journal

Sean Mason | June 20, 2016 | SmallCapPower

A positive journal review was good news for a medical tech penny stock Monday, while disappointing data hammered a biopharma play. Here’s some small stocks making big moves on Monday, June 20, 2016 (as of 4 pm EST):

NVC logoMedical tech penny stock Neovasc Inc. (TSE:NVC) climbed 11% to $1.08 on Monday after announcing that positive results of a single center, retrospective study using the Company’s Reducer product were published in the June 14, 2016 issue of The Netherlands Heart Journal.

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As well, shares of BELLUS Health Inc. (TSE:BLU) plunged 86% to $0.34 as the drug development company said top-line results from the Phase 3 study of KIACTA (eprodisate) for the treatment of AA amyloidosis did not meet the primary efficacy endpoint.

Renaissance Oil Corp. (CVE:ROE), reported, that it has received payment for its first sale of crude oil, condensate and natural gas to the Mexican state oil company, Petróleos Mexicanos (PEMEX). Renaissance Oil stock moved up 25% to $0.125 following the announcement.

In addition, shares of Independence Gold Corp. (CVE:IGO) surged 29% to $0.22 as the mineral exploration company said that Goldcorp Inc. (TSE:G) will acquire an approximate 19.9% stake in the Company through a flow-through private placement at C$0.1333 per share.

Finally, Athabasca Oil Corporation (TSE:ATH) shares rose 10% to $1.41 after the Canadian energy company announced that it has granted a Contingent Bitumen Royalty to Burgess Energy Holdings L.L.C. on its Thermal assets for total consideration of $129 million. As well, the Company said it has repaid its US$221 million first lien term loan.

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