Kane Biotech (CVE:KNE) Shares Down 12.5% – Here’s Why

Kane Biotech Inc. (CVE:KNE)’s stock price traded down 12.5% during mid-day trading on Monday . The company traded as low as C$0.07 and last traded at C$0.07. 136,000 shares changed hands during trading, an increase of 174% from the average session volume of 49,628 shares. The stock had previously closed at C$0.08.

Kane Biotech Trading Down 6.3%

The stock has a 50 day moving average of C$0.09 and a 200-day moving average of C$0.10. The company has a market capitalization of C$10.80 million, a P/E ratio of 1.88 and a beta of 0.52. The company has a current ratio of 0.80, a quick ratio of 0.39 and a debt-to-equity ratio of -331.42.

Kane Biotech Company Profile

Kane Biotech Inc, a biotechnology company, engages in the research, development, and commercialization of technologies and products that prevent and remove microbial biofilms in Canada and internationally. The company develops its products using coactiv+ technology, an antimicrobial wound gel platform; and DispersinB technology, a naturally occurring enzyme that cleaves the bacterial surface polysaccharide poly-b-1, 6-N-acetylglucosamine for treating wounds and otic infections.