- Thinly traded nano cap Therapix Biosciences (TRPX +50%) is up on a whopping 51x surge in volume in reaction to its proposed merger with Edmonton, Alberta-based Destiny Biosciences Global Corp., a cannabis-based genetics and tissue culture R&D company.
- The all-stock deal values TRPX at $48M, substantially above its current valuation of ~$12M, plus cash on hand.
- A definitive agreement should be consummated this quarter.
Date: July 29, 2019
Source: Seeking Alpha