Better to light a candle than to curse the darkness, it is said. And with the coronavirus ravging the world, it is assuring to know some pharmaceutical firms are on the job to stop the demon virus’ spread.
Beverly Hills, Calif.-based GT Biopharma, Inc. (OTC:GTBP) which focuses on developing innovative therapeutic treatments based on its proprietary NK cell engager (TriKE™) platform announced today that it had entered into a collaboration agreement with Cytovance® Biologics, a USA-based contract development and manufacturing organization, to provide development services for a TriKE™ therapeutic for the treatment of coronavirus infection.
To quote CEO Anthony Cataldo, "the flexibility and breadth of our TriKE therapeutic platform allows us to quickly adapt to new disease targets, and rapidly advance TriKE product opportunities into the clinic."
GTBP shares hiked four cents, or nearly 27%, late Tuesday to 18.84 cents, on volume of 2.8 million shares.
On the cannabis front, Winnipeg-based Delta 9 Cannabis Inc. (TSX:DN), flourished Tuesday on announcing guidance ahead of its quarterly results.
DN anticipates revenues for the three-month period ending December 31, 2019 to be between $10 million and $10.5 million compared with; $5.27 million for the same period in 2018, an increase of $6.66 million sequentially from the third quarter of 2019.
Delta 9 anticipates revenues for the year ending December 31, 2019 to be between $31.1 million and $31.9 million, compared to $7.57 million for the same period the prior year.
The Company anticipates reporting direct cannabis production cost per gram of $0.91 and total cost per gram of $1.04 for the fourth quarter 2019, compared with $1.08 and $1.21 respectively for the third quarter of 2019.
Shares in DN advanced 2.5 cents, or 5.4%, as Tuesday’s session was coming to an end, to 49 cents, on 67,900 shares.
Health-care issues in Canada were on the move, up 3.6%, late Tuesday afternoon, while in New York, the health-care sector took on 2.7%.
