62.3 F
New York
Wednesday, October 21, 2020

Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) Jumps on Recent Catalysts

Must read

PPG Industries Inc. (NYSE:PPG) Recent Earnings Shows Major Concern

PPG Industries Inc. (PPG) shares are trading at lower $134.32 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Inuvo Inc. (AMEX:INUV) Stock is Soaring, Here is Why

Inuvo Inc. (INUV) shares are trading at higher $0.37 and the avg recommendation for the stock is Moderate Buy. To add more color to...

The Rejuvenation of Syndax Pharmaceuticals Inc. (NASDAQ:SNDX)

Syndax Pharmaceuticals Inc. (SNDX) shares are trading at lower $17.28 and the avg recommendation for the stock is Strong Buy, while the current analyst...

Renewed Optimism is Surrounding ZoomInfo Technologies Inc. (NASDAQ:ZI)

ZoomInfo Technologies Inc. (ZI) shares are trading at higher $44.16 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) is a penny play in the cannabinoid MMJ space that has started to explode higher in recent days. The most recent catalyst is the company’s announcement that it will begin providing personalized cannabinoid anti-tumor tests for cancer patients. The diagnostic tests are based on liquid biopsies of patients suffering from any kind of cancer. According to the release, the test uses CTC technology that collects cancer cells from patients’ blood samples, and tests their sensitivity to cannabinoid compounds alongside conventional chemotherapy medicine.

The company notes that the results enable doctors to make better-informed decisions by providing personalized patient data as supporting evidence to available medical treatments. Dr. Eyal Ballan, Chief scientist of Cannabics Pharmaceuticals said, “Our vision is to embrace the natural medicinal properties of cannabis utilizing the diversity of active compounds to fight cancer in its manifestation in each individual patient”.

Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) promulgates itself as a company that engages in the research, development, licensing, and marketing of cannabinoid-based treatments and therapies. The company focuses on developing therapies and biotechnological tools for the relief from various ailments that respond to active ingredients sourced from the cannabis plant.

Its flagship product is Cannabics SR, a long-acting medical cannabis capsule that shows therapeutic effects as a palliative care therapy for cancer patients.

The Company’s R&D is based in Israel, where it is licensed by the Ministry of Health for its work in both scientific and academic research as well as current clinical studies underway at Rambam Hospital.

The Company’s scientific focus is on identifying and harnessing the therapeutic properties of specific natural Cannabinoids. Cannabics’ vision is to create individually tailored therapies for cancer patients, utilizing advanced screening systems and personalized bioinformatics tools.

The company was formerly known as American Mining Corporation and changed its name to Cannabics Pharmaceuticals Inc. in May 2014. Cannabics Pharmaceuticals Inc. is based in Bethesda, Maryland. As of April 25, 2014, Cannabics Pharmaceuticals Inc. operates as a subsidiary of Cannabics Inc.

According to company materials, “Cannabics Pharmaceuticals Inc. (CNBX), a U.S based public company, is dedicated to the development of Personalized Anti-Cancer and Palliative treatments. The Company’s R&D is based in Israel, where it is licensed by the Ministry of Health for its work in both scientific and clinical research. The Company’s focus is on harnessing the therapeutic properties of natural Cannabinoid formulations and diagnostics. Cannabics’ vision is to create individually tailored natural therapies for cancer patients, utilizing advanced screening systems and personalized bioinformatics tools.”

Find out when $CNBX stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

The company states in their latest press release that their exclusive collaboration with Cancer Hope Israel will allow them to provide proprietary cannabinoid-based compounds to be assessed in terms of their anti-tumor properties.

As we understand it from company statements, commercialization will commence in March 2017, when 10 first patients’ liquid biopsies will be tested using this technology. The company plans to make this service available to cancer patients in Canada, Europe and the USA, under local medical cannabis regulations in each country and state, by the end of the year.

Itamar Borochov, CEO of Cannabics Pharmaceuticals, says “We are the first company in the world to offer cancer patients personalized cannabinoid anti-tumor diagnostics. We are excited to be pioneers in the nexus of cannabis and personalized cancer treatments”.

Traders will note 81% added to share values of the company over the past month of action. Market participants may want to pay attention to this stock. CNBX has a track record that includes a number of dramatic bounces. Moreover, the listing has seen an influx in interest of late, with the stock’s recent average trading volume running approaching 140% above the average volume levels in play in this stock over the longer term.

Traders should note this as important due to the relatively small float size in the stock (barely over 14M shares). One is wise to respect the dynamic this may create — a restricted trading float and a jump in trading volume can crimp supply and push share prices higher. Since we last covered the name, the stock has moved 99.5% higher.

Now commanding a market cap of $151.8M, CNBX has a reserve ($278K) of cash on the books, which stands against virtually no total current liabilities. CNBX is pulling in trailing 12-month revenues of $113K. However, the company is seeing recent declines on the top line on a sequential quarterly basis, with revenues falling at -100% as of its latest reporting period. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $CNBX stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

Latest article

Is Now the Time to Invest in SITE Centers Corp. (NYSE:SITC)?

SITE Centers Corp. (SITC) shares are trading at lower $7.19 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Anheuser-Busch InBev SA/NV (NYSE:BUD) Stock is Soaring, Here is Why

Anheuser-Busch InBev SA/NV (BUD) shares are trading at higher $55.53 and the avg recommendation for the stock is Strong Buy, while the current analyst...

Manulife Financial Corporation (NYSE:MFC) is Holding Steady

Manulife Financial Corporation (MFC) shares are trading at lower $14.02 and the avg recommendation for the stock is Strong Buy, while the current analyst...

Investor Confidence is Falling for Paychex Inc. (NASDAQ:PAYX)

Paychex Inc. (PAYX) shares are trading at lower $81.93 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Splunk Inc. (NASDAQ:SPLK) is Gaining Momentum on Earnings Catalyst

Splunk Inc. (SPLK) shares are trading at higher $207.21 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...