Kane Biotech (CVE:KNE) Stock Price Down 23.1% – Here’s What Happened

Kane Biotech Inc. (CVE:KNE)’s stock price fell 23.1% on Saturday . The company traded as low as C$0.05 and last traded at C$0.05. 159,625 shares traded hands during mid-day trading, an increase of 120% from the average session volume of 72,560 shares. The stock had previously closed at C$0.07.

Kane Biotech Stock Performance

The company’s 50-day moving average is C$0.08 and its two-hundred day moving average is C$0.10. The company has a quick ratio of 0.39, a current ratio of 0.80 and a debt-to-equity ratio of -331.42. The company has a market cap of C$7.20 million, a P/E ratio of 1.25 and a beta of 0.52.

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.