Biotech Stock Surges on U.S. FDA Update

Spectral Medical Inc. (TSE:EDT), a biotech stock, moved higher after announcing that the United States FDA has accepted its rolling PMA application

Sean Mason | July 24, 2017 | SmallCapPower

Another step further in the United States Food and Drug Administration approval process was encouraging news for investors in a biotech stock Monday. Here’s some small stocks making big moves on Monday, July 24, 2017 (as of 4 pm EST):

Spectral Medical Inc. (TSX: EDT), a biotech stock, climbed 9% to $0.435 on Monday after announcing that the United States Food and Drug Administration (FDA) has accepted its rolling PMA application for Toraymyxin, for treating patients with septic shock, for review. The acceptance of the filing means that the FDA has made a threshold determination that the application is sufficiently complete to permit a substantive review.

 

As well, shares of Tembec Inc. (TSX: TMB) added 9% at $4.66 as Florida’s Rayonier Advanced Materials said it has raised its offer price for the Montreal forest-product company by 17% to $4.75 a share, in a deal valued at $475-million excluding debt.

Nicola Mining Inc. (TSXV: NIM), meanwhile, reported what the Company called positive results of an Induced Polarization (IP) geophysical survey over Promontory Hill, an area of high interest on its wholly-owned New Craigmont Project in British Columbia. Nicola Mining stock moved up 2% to $0.23 following the announcement.

Finally, Siyata Mobile Inc. (TSXV: SIM) shares gained 11% to $0.69 after the cellular communications systems provider announced that it has begun the technical device approval process for its Uniden UV350 4G/LTE in-vehicle connected cellular device with a Tier 1 operator in the United States.

To find out more about Nicola Mining Inc., please visit the company’s Investor Hub.

 

Ubika Research/SmallCapPower has received compensation from Nicola Mining to provide analyst research coverage. For full disclosure please visit here >>

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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.

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. To read more of this Disclaimer please click on the button below:

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.