Edesa Biotech Received Good Data and Brooks Automation Sold a Part of Their Business
Edesa Biotech is a small healthcare firm that focuses on cures for immune-related diseases. They are based in Toronto, Canada, and they have a market cap of $158.007 million, making them a micro-cap company.
On Monday, Edesa announced positive Phase 2 data of its antibody treatment in hospitalized COVID-19 patients. Critically ill patients saw a 68.5% decrease in the risk of dying when treated with Edesa’s antibody cocktail, and an independent board recommended it to enter Phase 3 trials, which would put them closer to approval. Investors loved this news as the stock rose to $11.92, up 102.72%.
Brooks Automation is a technology company located north of Boston, Massachusetts. They provide manufacturing solutions for the semiconductor industry, and they also provide life science services for the life sciences market.
However, the $7.612 billion company decided to cut one of those. On Monday, they announced that they would sell their chip solutions business to private equity firm Thomas H. Lee Partners for $3 billion in cash. This ends Brooks plans to split into two different companies, and they now look to pursue the life sciences division of the company. Investors seemed to like this decision as the stock closed the day at $102.45, up 8.83% on what was a red day for the broader market.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.