Stock Alert: Liminal BioSciences Gains 3%

(RTTNews) - Shares of Liminal BioSciences Inc. (LMNL) are gaining over 5% on Monday morning after the clinical-stage biopharmaceutical company said it has agreed with Kedrion S.p.A. to sell its plasma collection centers operated in Winnipeg, Manitoba and Amherst, New York, through its subsidiaries, Prometic Plasma Resources Inc., and Prometic Plasma Resources (USA) Inc.

LMNL is currently trading at $4.50, up $0.22 or 5.14%, on the Nasdaq.

Upon closing of the deal, Liminal would receive purchase price of $17 million.

Liminal BioSciences said the deal reflects its recent announcement to focus its resources on the advancement of the company's small molecule therapeutics business.