Comstock Mining Inc (NYSEAMERICAN:LODE) shares climbed after the company announced progress in advancing its Dayton project, which contains the miner’s second-largest gold and silver mineral resource. The company has drilled 408 shallow holes totaling 30,819 feet, identifying mineralized structures covered by shallow alluvium that meaningfully improve the geological mapping of the area. CEO Corrado De Gasperis said a preliminary economic assessment report is due in the fourth quarter of 2018 and will confirm the company’s bet on its sprawling Dayton resource.
Shares in the Virginia City, Nevada. miner climbed 9.3% to US$0.24 in morning trade.
Vical Inc (NASDAQ:VICL) shares climbed after it announced that its board of directors planned to explore a range of strategic options to enhance shareholder value. The company said there’s “no set timetable” for the review process and there is no assurance that it will, in fact, result in a transaction. The San Diego, California-based company which develops vaccines for the treatment of infectious diseases said it anticipates ending 2018 with US$40mln in cash. The company’s anti-fungal drug VL-2397, is currently in a Phase 2 clinical trial.
Vical stock was up 8.5% to US$1.31.
Shares of California-based Arcadia Biosciences Inc. (NASDAQ:RKDA) jumped after the agricultural food ingredient company and India’s Shriram Bioseed, a leading research and hybrid seed development company, announced the achievement of a key milestone in developing Extended Shelf Life (ESL) tomatoes. The new hybrid tomatoes are in the pre-commercial, field testing stage in different geographies with an anticipated launch in 2019. Arcadia’s ESL technology was developed in part under a U.S. Department of Defense contract to develop longer-lasting fresh produce for field troops stationed in remote places. Arcadia received a patent for the technology in 2014.
Arcadia stock shot up 20% to US$8.20 in morning trade.
Tile Shop Holdings Inc (NASDAQ:TTS) shares soared after the stone tile retailer posted second-quarter earnings that handily beat Wall Street estimates on strong revenue. For the quarter ended June 2018, the tile retailer posted earnings of US$0.10 per share on revenue of US$92.9mln. The results topped Wall Street expectations for earnings of US$0.09 per share on revenue of US$90.5mln. Revenue grew 3.9% on a year-over-year basis.
Shares in the Plymouth, Minnesota-based company climbed 9.04% to US$9.05.
Contact Uttara Choudhury at [email protected]