BioMS, an Edmonton, Alberta based biotech company working on a treatment for Multiple Sclerosis has seen its stock double from its lows of October 30th when the stock traded at $1.95.
BioMS (T-MS), is nearing completion of phase 3 trials that it has been conducting in North America and Europe. The company was a spin off out of the University of Alberta’s Research department many years ago.
We have been following this story for the greater part of 5 years and the author does own a position in the company.
The stock really started to move as Bloomberg published an article on the company last week. I have attached a link below to the article.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aWth2ME0_ZNs
While I am optimistic on the longer term prospects of the company, it is important to note that there has been downward pressure on the stock each time it trades close to $4.00. The company has raised money several times in the past and each time has issued warrants exercisable at $4.00.
Once the overhang on the $4.00 price has been traded out, the stock could see higher pricing in the future. If you are looking for a Canadian biotech stock to own and there arent many, this is one you may want to consider.
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