viewAduro Biotech

Small-Cap Snapshot: Corindus inks deal to branch out to Japan, Funko investors file class-action suit

The medical-device company received approval to market its CorPath GRX system in Japan

Funko figures
Funko shareholders accuse the company of giving them misleading financial information

Medical device company Corindus Vascular Robotics Inc (NYSE:CVRS) is branching out into the Japanese market after receiving approval for its CorPath GRX system. The system allows cardiologists to guide catheters, stents and guidewires during coronary or vascular procedures. Japan performs around 250,000 of these types of procedures every year, according to the release. Shares of the Massachusetts-based company surged more than 15% to US$0.83.

READ: Small-Cap Snapshot: AV Homes to be acquired in US$963mln deal, Rev Group under investigation by shareholder rights firm

Aduro Biotech Inc (NASDAQ:ADRO) shares jumped after announcing that its licensee Janssen Biotech is initiating an early-stage study of its lung cancer drug. ADU-214 will be combined with Bristol-Myers Squibb’s (NYSE:BMY) cancer drug Opvido to treat adenocarcinoma in lung cancer patients. This occurs when a malignant tumor forms from the glands in an organ. Shares of the California-based company were up more than 4% to US$6.83.

MicroVision Inc (NASDAQ:MVIS) announced that it will make an underwritten public offering of US$18mln in its common stock. The company created PicoP scanning technology, an ultra-miniature laser projector used for 3D and interactive displays. The tech company’s former vice president of engineering and operations, Sumit Sharma, was elevated to the role of chief operating officer. Shares of the Washington-based company fell nearly 12% to US$1.26.

Bobblehead creator Funko Inc (NASDAQ:FNKO) shares were up nearly double-digits despite a class action lawsuit filed on behalf of its shareholders, accused of misleading its investors about its financial condition. Shareholders rights law firm Robbins Arroyo LLP as well as several other firms, will represent shareholders who want to know how the pop culture company could report an 86% earnings increase but still lose more than US$10mln in the first half of 2017, as was reported in a Bloomberg article. Shares of the company were up nearly 8% to US$12.20.

The small-cap indices were mixed with Russell 2000 seeing minimal losses while the S&P 600 saw slight gains.

Quick facts: Aduro Biotech

Price: 2.5 USD

Market: NASDAQ
Market Cap: $202.21 m

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