Cannabinoid Biopharma Stock Surges On FDA Ruling

A U.S. Food and Drug Administration designation was good news for investors in a cannabinoid biopharma stock Wednesday. Here’s some small stocks making big moves on Wednesday, June 27, 2018 (as of 11:30 a.m. EST):

Revive Therapeutics Ltd. (V:), a cannabinoid biopharma stock, powered 24% higher to $0.255 on Wednesday after announcing that the U.S. Food and Drug Administration has granted the company orphan drug designation for cannabidiol in the treatment of autoimmune hepatitis.

As well, shares of Titan Medical Inc (TO:) added 10% at $7.85 as the medical device company said its common stock will begin trading on the Nasdaq Capital Market on June 27, 2018, under the symbol TMDI.

iCo Therapeutics Inc (V:), meanwhile, reported a positive primary end point of safety and tolerability in its Phase 1 clinical study of iCo-019 (Oral Amp B). iCo Therapeutics stock popped 37% to $0.185 following the announcement.

Finally, Diamond Estates Wines & Spirits Inc (V:) shares fell 16% to $0.32 as the alcoholic beverages producer/marketer announced that its fourth-quarter 2018 revenue slipped 11% to $5.4 million.

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