BioNitrogen Corp. (PINKSHEETS: BION), a biotechnology company owning technologies that convert biomass into urea fertilizer, is sinking in mid-day trading today, reversing some of the gains from last week. BION had finished higher in each of the previous six trading sessions. On Friday, BION had gained nearly 19%.
BION rallied on Friday after the company announced the signing of three-year lease for new office space in Wauchula, Florida. BION is currently trading 33.17% lower at $0.274 on volume of 2.05 million, which is nearly three times the daily average volume of 730,304. Despite the losses today, BION is still up more than 135% in the last five trading sessions.
AmarantusBioSciences Inc. (OTCQB: AMBS), a development stage biopharmaceutical company, is soaring in mid-day trading today. AMBS has bounced back sharply in the last two trading sessions after falling sharply last Thursday. AMBS had finished more than 30% lower last Thursday.
The stock slipped on Thursday even as the company made some major announcements, including the acquisition of neurodegenerative diagnostic intellectual property portfolio from Power3 Medical Products. AMBS is currently trading 12.96% higher at $0.122 on volume of 6.56 million, which is nearly a third of the daily average volume of 20.03 million.