Other small caps making news this week:
Shares of biotechnology company Theratechnologies Inc.
shares were up 5 per cent in early trading Thursday, a day after the company announced an agreement with Ionis Pharmaceuticals Inc. to license two investigational RNA-targeted medicines developed by Ionis. (RNA is short for ribonucleic acid that’s present in living cells that has structural similarities to DNA).
Under the agreement, Theratechnologies said it receives exclusive rights in Canada for olezarsen, which is being evaluated for familial chylomicronemia syndrome (FCS) and severe hypertriglyceridemia (sHTG), and for donidalorsen, which is being evaluated for the treatment of hereditary angioedema (HAE).
Theratechnologies CEO Paul Lvesque said in a statement that the agreement expands on the company’s HIV portfolio and primary business in the U.S. and “reaffirms our commitment to be a commercially focused company that delivers sustained top- and bottom-line growth and value for shareholders.”
Theratechnologies shares are down 8 per cent so far this year. The stock hit a 52-week high of $3.43 in January. Shares started to pick up in early December after the company announced that it closed a $40-million three-year non-dilutive, senior secured syndicated financing with TD Bank. The company called it a “critical milestone” for its focus on commercializing innovative therapies.
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