In times of uncertainty stemming from stock market selloffs, one thing I like to do is identify companies/sectors that are actually making bullish moves and figuring out the underlying cause behind them. It didn’t take me long to recognize a nice move for a small Canadian-based specialty pharmaceutical company, Aequus Pharmaceuticals Inc. (TSX-Venture:AQS), after it made headlines this morning.
The company announced the expansion of a partnership with Medicom Healthcare to include an additional formulation in a preservative free dry-eye product line. This news is coming just days after the company has also submitted an application for the product with Health Canada for processing of a New Medical Device License. Doug Janzen, the CEO and Chairman of Aequus believes his company is "more than ready now, for the anticipated approval of these three Evolve products in Canada, that will be launching into a $90-million dry-eye market."
This was welcomed news to shareholders, as the company traded up to $.145/share for a 7.4% pop. This is following a healthy uptrend for the last three months after the company nearly made all-time lows in July. With this company making great strides to potentially expand their operations, you might want to add them to your watchlist!
