Kane Biotech (CVE:KNE) Shares Down 13.3% – Here’s Why

Kane Biotech Inc. (CVE:KNE) shares traded down 13.3% during mid-day trading on Friday . The stock traded as low as C$0.06 and last traded at C$0.07. 537,300 shares traded hands during trading, an increase of 855% from the average session volume of 56,261 shares. The stock had previously closed at C$0.08.

Kane Biotech Stock Down 13.3%

The company has a current ratio of 0.80, a quick ratio of 0.39 and a debt-to-equity ratio of -331.42. The firm has a market cap of C$9.36 million, a P/E ratio of 1.63 and a beta of 0.52. The company’s 50 day simple moving average is C$0.09 and its 200-day simple moving average is C$0.10.

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.