Canadian biotech stocks rise amid corona rumors
Cannabis is said to play an important role in treating the virus.
Claims of cannabinoid treatment for COVID-19 sparked interest in a Canadian biotech stock on Wednesday. Here are some small stocks that are making big moves on Wednesday, September 23, 2020 (starting at 4 p.m. EST): Pascal Biosciences Inc. (TSXV: PAS), a Canadian biotech stock, rose 21% to $ 0.17 on Wednesday after it announced it had confirmed an earlier report that certain cannabinoids were causing the replication of SARS- Block CoV-2, the coronavirus that causes COVID-19. Pascal added that these studies confirm the company's plans to develop a cannabinoid treatment for COVID-19. Aurora Cannabis Inc. (TSX: ACB) shares also rose 29% to $ 6.90, as the Canadian cannabis company reported a net loss of $ 3.3 billion in fiscal 2020, falling short of analysts' expectations. WildBrain Ltd. (TSX: WILD), meanwhile, reported fourth-quarter revenue of $ 92.9 million, better than analysts' $ 91.8 million, while the company posted a loss of $ 0.47 per share last year hovered to a profit of $ 0.02 per share. WildBrain shares rose up to 9% after the announcement.