3 Stocks Illuminating Green on a Red Trading Day
MEDTOX Scientific, Inc. (NASDAQ:MTOX): LabCorp. (NYSE:LH) has agreed to acquire Medtox Scientific, a forensic and clinical laboratory, for $241M. The $27 per share offer represents a 37% premium over Medtox Scientific’s closing price of $19.70 on Friday. This acquisition comes as LabCorp. begins the expansion of its Toxicology Center of Excellence. Shares of MEDTOX Scientific, Inc. are trading 35.43% higher today.
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Cleveland BioLabs, Inc. (NASDAQ:CBLI): According to Cleveland BioLabs, there are strong survival results for the company’s random, blind, placebo-controlled efficacy study of CBLB502 on 179 nonhuman primates, NHPs. This was conducted under Good Laboratory Practice with elements of Good Clinical Practice, which is a requirement of the U.S. FDA’s Animal Rule. Accompanied with significant statistics, the study demonstrated a dose-response relationship between CBLB502 and the survival rate of lethally irradiated animals, which was the primary reason for the study. Shares of Cleveland BioLabs, Inc. are trading 57.48% higher today.
Gushan Environmental Energy Ltd (NYSE:GU): Gushan Environmental Energy (GU +50.5%), a manufacturer of copper goods and a producer of biodiesel in China, has agreed to become private for $162 per share under Chairman Jianqiu Yu and Trillion Energy Holdings. Though Q1’s revenue was estimated at $89.6M, the company reports a revenue of $42.3M for Q1. Shares of Gushan Environmental Energy Ltd are trading 46.15% higher today.
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