Canadian Stocks That Surged Highest Today: $SONA $SWP $UFS

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Sona Nanotech To Offer Results Of COVID-19 Antigen Test Evaluation In Two Weeks

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Sona Nanotech Inc. (TSX:SONA) was amongst top gainers in yesterday's trading session gaining 45.62%. The company announced that its infield evaluation clinical studies previously announced for rapid COVID-19 antigen tests that started last month are expected to return results in two weeks. Sona indicated that the delays experienced were caused by approvals from the ethics review board and the need for modifications of accommodation of regulatory updates. The modifications include an assessment at the point of care environment, study registration criteria, and test handling procedures.

The evaluation protocol of the studies includes revises the aspect of guidance that the FDA released on July 29, 2020. The company is dedicated to the comprehensive evaluation of the rapid coronavirus antigen test and giving accurate data sets to Health Canada and the FDA.

Swiss Water Decaffeinated Coffee Reports 8% Growth In Q2 2020 Revenues

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Swiss Water Decaffeinated Coffee Inc. (TSX:SWP) was also one of the top gainers in the previous trading session with the stock jumping 18.46%. The company announced its Q2 2020 results and 1H 2020 results in which total revenue in the quarter grew 8% YoY to $26.4 million. In the first half of the year revenue was $48.2 million which is a 1% decline from last year. Gross profit in the quarter was $5.2 million while for 1H it was 9.4 million an increase of 22% from 1H 2019.

The company announced the election of Donald Tringali to the Board. The company has announced the election of Diane Fulton as the Interim Chair of the Board.

Domtar Releases Q2 2020 Financial Results

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Another top gainer in yesterday's session is Domtar Corp. (TSX:UFS) which jumped 38.14%. The company has released its preliminary Q2 2020 financial results and also announced other strategic initiatives. The company posted net earnings of $19 million or $0.34 per share in the quarter and EBITDA of 20 million or $0.36 per share. The CEO John Williams stated that despite the challenges experienced in Paper and Pulp markets they have managed costs at the same time initiating cost and cash conserving measures.

The company has launched a strategic review of the personal care segment for the first time since it launched the incontinence and diaper operations. Domtar says it is considering several value-creating options that include selling the business.

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