Canadian Micro Cap Gets Boost Following Study Findings

Canadian Micro Cap Gets Boost Following Study Findings

By: Dylan Sikes – News

Tuesday, November 22, 2022

A Calgary-based biotech company is turning heads on Tuesday after it was announced that a recent study showed its lead drug candidate MB-204 demonstrated a 400% increase in the survival rate of animals being treated by high doses of chemotherapy treatment, cis-platinum, according to the release. This sent shares of Marvel Biosciences Corp. (TSXV:MRVL) higher on the news. 

Marvel Biosciences Corp is a life sciences company focused on the discovery and the development of a synthetic derivative compound of a known proven drug. It has developed several new patented and patentable chemical entities, using synthetic chemical derivatives of known, off-patent drugs, that inhibit the A2a adenosine receptor with application to neurological diseases (depression and anxiety, Alzheimer's, ADHD and addiction), cancer, and application to the non-neurological disease of non-alcoholic steatohepatitis liver fibrosis.

Traders bought up shares of this micro cap until the price reached $0.17/share (+6.25%) at the early session high. This move was a strong continuation of the success this stock has had over the course of the last month. 

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