Stellar Biotech (NASDAQ:SBOT) shares were up more than 70 percent Friday morning following an 8-K filing late Thursday disclosing its board and Edesa Biotech approved a transaction that was originally disclosed on March 8.

During the fiscal second quarter, Stellar Biotech entered into a share exchange agreement with Edesa Biotech, a Canadian biopharmaceutical company. Under the terms of the agreement, Edesa Biotech shareholders agreed to exchange their shares of Edesa for newly-issued common shares of Stellar.

An 8-K filing is a form used to notify investors in U.S. public companies of specified events that may be important to shareholders.

Stellar Biotech traded around $2.05 per share Friday morning, up 70.8 percent.