It is one of the more volatile sectors on North American stock markets, but the health-care field is never boring. The sector has yo-yoed over the past few months, its gains as spectacular as its dives are disturbing. Today, the sector climbed 1.9% on Bay Street, about 7% on Wall Street, thanks in part to two stocks making significant contributions to that upward progress.
Calgary-based CanadaBis Capital Inc. (TSX-Venture:CANB) holds a federal licence to cultivate, process and sell cannabis. Tuesday, it announced its strategic direction and facility expansion focus for its subsidiary 1998643 AB LTD, known colloquially as Stigma Grow.
Stigma’s Red Deer, Alberta facility provides the craft-quality plants needed to supply for all four pillars of their integrated business model.
Said CEO Travis McIntyre,"Stigma Grow intends to leverage the ability our own, top-quality flower, state-of-the-art technology, and the insight provided by our skilled and experienced staff, to target consumers and partner LPs that are looking for high-quality, 'bud-run' extract product variations."
While CANB did not have overwhelming volume Tuesday (only 4,000 shares), its price really took off, gaining two cents, or 25%, to 10 cents.
Elsewhere in the health-care field, Marietta, Ohio-based ProtoKinetix, Incorporated (OTCQB:PKTX) sought patent protection for a new application of its AAGP® molecule.
During recent testing at The University of British Columbia, where photo receptors were transplanted into animal models, it was found that AAGP® may have had a role in protecting xenografts and allografts from immune rejection from the host immune system, thereby helping the graft to survive and mature in the transplant recipient.
By protecting this technology, the Company says, it is in a better position to move forward with its research in organ transplantation.
While PKTX also did not see shares tumbling off the shelves, only 15,000 shares changing hands, the price did vault 5.1% to 17.87 cents.