Two Health-Care Firms Offer up Exciting News

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Thursday, May 21, 2020

Health-care companies are being celebrated here, and cannabis firms appear to be more and more where it’s at. 

The health-care sector was on the downside looking up Thursday, behind 0.6% in New York, while Canadian health-care firms as a group triumphed 4.4%. 

Trying to slow the downward momentum is Puration, Inc. (USOTC: PURA). The Dallas-based company which engages in the extraction and application of concentrates from cannabis, told investors Thursday its first-quarter revenue increased 173% to $805,000 over same period in the previous year. Management is confident these results support the company's recently published 100% annual revenue growth outlook for 2020 and going forward. 

The company recently published its 2019 annual financials reporting 121% annual revenue growth to over $2.7 million for the year ended December 31, 2019 compared to $1.2 million for the year ended December 31, 2018. In addition to achieving continued high revenue growth, the company reported over $200,000 in net profit. 

Shares in PURA leaped 5.5% to 1.39 cents, on volume of 13.2 million shares.

Meanwhile, north of the border, and back into the battle against COVID-19, Dartmouth, Nova Scotia-based IMV Inc. (TSX: IMV) announced positive preclinical results demonstrating robust immunogenic and antibody responses from the majority of peptide epitopes. Based on these data, IMV has selected multiple peptide epitopes to be formulated within its DPX platform to form a vaccine candidate against the novel coronavirus, DPX-COVID-19.

Said Research and Development Vice President Marianne Stanford, “Based on these results, our team has down selected a combination of peptides that have demonstrated immunogenicity and target several areas of the virus mechanism of entry in a non-overlapping fashion.” 

The stock price put IMV on the cutting edge of the small-cap bracket, traveling 28 cents, or 6%, upward to $4.92, on volume of 374,000.

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