Oncolytics Biotech (T.ONC) hit a new 52-week high of $4.10; Oncolytics Biotech announced that it has reached an agreement with the U.S. Food and Drug Administration (FDA) under the Special Protocol Assessment (SPA) process for the design of a Phase 3 trial examining REOLYSIN in combination with paclitaxel and carboplatin in patients with platinum-refractory head and neck cancers.
The SPA is an agreement between Oncolytics and the FDA that the design and planned analyses of the Phase 3 study is adequately designed to provide the necessary data, that depending upon outcome, could support a license application submission for REOLYSIN.
Stingray Copper (T.SRY) hit a new 52-week high of 66 cents; Mercator Minerals Ltd (T.ML) and Stingray Copper have announced joint execution of a binding agreement to complete a business combination, by way of a plan of arrangement or other form of business combination. Under the agreement, Mercator will acquire all of the issued and outstanding shares of Stingray at an agreed exchange ratio of 0.25 Mercator shares per Stingray share.
This represents a 51.6% premium to Stingray shareholders based on the closing price of both companies as of October 1, 2009 and a 71.4% premium to Stingray shareholders based on the 20-day volume weighted average share price of both companies. The Transaction is expected to close before the end of the year and, upon closing, Stingray shareholders will hold approximately 8% of the combined company. The boards of directors of Mercator and Stingray have unanimously approved the terms of the Transaction.
Ventana Gold (T.VEN) hit a new 52-week high of $6.74; no news announcements today
Baja Mining Corp.(T.BAJ) hit a new 52-week high of 78 cents; no news announcements today
TECSYS Inc. (T.TCS) hit a new 52-week high of $2.34; no news announcements today
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