ArQule, Inc. (NASDAQ:ARQL) Stock Hits 17-Year Highs Amid Positive News
Biotech company ArQule, Inc. (NASDAQ:ARQL), which is involved in manufacturing precision cancer medicines, has been one of the most significant gainers in the market over the past two weeks. As of now, ArQule, Inc. stock has gained as much as 75% over the past two weeks.
Clinical Trial Of ARQ 531
It all started back on 14 June, when ArQule released the interim data from Phase 1 of the clinical trial for its medicine ARQ 531. The medicine in question is meant for the treatment of blood cancers and the results were encouraging. The data with relation to the proof of concept metrics showed that the medicine has the potential to be used to treat a whole range of blood cancers.
The data clearly indicated that the ARQ 531 product has the merits to go on to become an effective treatment for blood cancers and on that note, the stock started climbing. It rose by as much as 44.7% that day. However, that was not the end of the ArQule rally and a few days later the stock started climbing again after interim data was released for another medicine.
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Clinical Trial Of ARQ 092
On 17 June, ArQule revealed that the interim data from the clinical test of ARQ 092 was largely positive. The medicine in question is meant for the treatment of rare overgrowth diseases. On the same day that this news broke, the stock soared by as much as 21% to make ArQule one of the biggest gainers in the market.
According to experts, the impressive growth in the ArQule stock over the past two weeks is down to the fact that investors are now able to witness a lot of promise in the company’s pipeline of medicines. When a company has more than one promising product with encouraging data, then it is not a surprise to witness its stock having a good time.
ARQL stock is one of the biggest biotech stock gainers this year with a gain of over 280% since the beginning of this year. Moreover, the stock made a new 17-year high of $11.11 earlier in the session.
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Black Tusk Resources (BTKRF) Jumps 16% On New Drilling News
Canadian mining company Black Tusk Resources Inc. (TUSK) (BTKRF) is involved primarily involved in gold mining projects in a different part of Canada, but in a new development, the company made a significant new announcement. This Monday the company announced that the company all set to start drilling for diamonds at its Golden Valley Project.
Black Tusk went on to add that the permits needed for the start of drilling activities, the construction of drill pads and access, are now all in place. The project will consist of 3000 meters of drilling that will stretch across two stages. The first stage will comprise of 1500 meters worth of drilling activities and will be spread over as many as 10 drill sites.
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The 2nd stage of drilling is contingent on the results of the 1st stage and will commence only when the samples have been analyzed by experts. The task of drilling has been contracted out to Forage Roby Drilling. It is a significant new breakthrough for the company and the stock rose by as much as 20% once the news broke. The Chief Executive Officer of the exploration company stated, ‘’We are extremely pleased with the progress on the Golden Valley Project and look forward to commencing diamond drilling this summer on our primary targets.”
The groundwork for the project had been in the works for quite some time. On Tuesday last week, Black Tusk had tied up the contract for the drilling work at the site with Forage Roby Drilling. However, it should be pointed out the resources team at Black Tusk had conducted a meeting with a team representing Forage Roby Drilling back in May. On the other hand, the company received permits for the same project back on 10 June. All this goes to show that Black Tusk had been highly proactive with intricacies of the project from the outset and now the company would hope that the 1st stage of drilling brings good results.
Shares of the company were up 16% to $0.145 on the Canadian Exchange on Tuesday’s trading session.
Where Signature Devices Inc. (OTCMKTS:SDVI) Stock is Heading After The Recent Developments?
Much of what software and hardware development firm Signature Devices Inc. (OTCMKTS:SDVI) has done over the past few months has gone under the radar a bit. However, it is a good time to have a quick look at the company’s achievements. Signature Devices, along with its subsidiary Nano 101, which makes tropical hemp patches, released its earnings reports for Q1 2019 last month and the financials were robust. The reports provided the consolidate figures of the company’s earnings and included the earnings from Nano 101.
Total assets with the company declined year on year to $1,264,831 from $1,392,554 in the same quarter last year. However, the company did manage to increase its revenues substantially to $91,723. It was a 125% from the year ago quarter, in which the Signature had generated $73,085 in revenues. That being said, the headline figure was the gross profit which skyrocketed by 782% year on year to hit $61,514 from $7862. The President of Nano 101, Ray Khan stated that the company is going to depend on the hemp and CBD elements of their business to generate significant growth in the future.
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The company’s optimism regarding Nano 101 is not misplaced considering the developments that have taken place over the past few months. Back in April, Signature struck a strategic partnership with digital marketing firm SponsorsOne. SponsorsOne is well known for making little known brands well known through its marketing techniques, which also includes the services of well known social media influencers. The company’s extensive network of influencers is perhaps the most important aspect about this marketing deal and it is believed that once the products made by Nano become visible to thousands of people, it is perhaps only a matter of time before the company’s sales rise. The company had already generated decent sales and the marketing partnership could add a much needed boost.
Oxbridge Re Holdings (OXBR) Stock Gets Attention On Surprise News
Reinsurance companies have grown by leaps and bounds over the past decade or so and one of the more interesting companies in this particular sector is Oxbridge Re Holdings Ltd (NASDAQ:OXBR). The company was established back in 2013 in the Cayman Islands and it operates in a niche market. The main reinsurance services offered by Oxbridge are meant for casualty and property insurers who are located in the Gulf Coast area in the United States.
In addition to that, the company has two licensed subsidiaries as well, which are named Oxbridge Re NS sidecar and Oxbridge Reinsurance Limited.
OXBR Stock Soars 60%
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The whole range of services provided by the company is expected to be quite diverse in the years to come and could turn out to be a good investment for canny operators in the stock market. The stock trades under the ticker signs OXBRW and OXBR on NASDAQ.
In a new development, that the company has announced that it was successful in placing its reinsurance contracts that were meant for the treaty year stretching from 1 June, 2019 and 31 May 2020. The contracts were renewed through the company’s fully owned subsidiary company Oxbridge Reinsurance Limited. However, that was not all. The company has also managed to raise funds by virtue of its reinsurance side car.
These are highly important developments for a company which is involved in the reinsurance industry and after the new broke, the company’s shares rose by a whopping 60% $1.35. It is clear to see that Oxbridge Re is on the right track as far as its stature as a reinsurance company is concerned.
In this regard, it is also necessary to point out that the company is looking to expand its services considerably in the years to come. Some of the sectors that it wants to move into includes the underwriting of medium to highly severe risks.