The latest explosion on the OTC occurred on Friday in the form of the 10x volume 54% launch in Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX). The move was unquestionably headline-driven and could have some follow-through early next week. The company just announced it has received encouraging results in its preclinical study showing one of its proprietary cannabinoid compounds causing higher rate of cancer cell death compared to traditional chemotherapy.
According to the release, “Cannabics is rapidly expanding its database of cancer and cannabinoids and established a library of cannabinoid compounds to explore the biological versatility and entourage effect. Recently the company has been granted a patent in Israel on its core technology of screening the effectiveness of cannabis compounds on human biopsies. The research and development center, in Israel, has leveraged its capabilities and accomplished the implementation of the patented technology.”
Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) bills itself as a U.S based public company dedicated to the development of Personalized Anti-Cancer and Palliative treatments.
CNBX has been an exciting story in the space, with reports of a diagnostics technology supposedly positioned to revolutionize the way physicians identify the disease in cancer patients in terms of a coordinated cannabinoids therapy program. 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.
CNBX’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. Its flagship product is Cannabics SR, a long-acting medical cannabis capsule that shows therapeutic effects as a palliative care therapy for cancer patients.
CNBX’s scientific focus is on identifying and harnessing the therapeutic properties of specific natural Cannabinoids.
According to company materials, “Cannabics Pharmaceuticals Inc. (CNBX) is a U.S public company that has developed a platform which leverages novel drug-screening tools and artificial intelligence to develop cannabinoid-based therapies for cancer that are more precise to a patient’s genetic profile. By developing tools to assess effectiveness on a personalized basis, Cannabics is helping to move cannabinoids into the future of cancer therapy. The company’s R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and Cancer.”
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As noted above, CNBX hit the wires on Friday with news that the company just saw some strong preclinical data in its cannabinoid cancer research study. Overall, traders will note 68% during the past month in terms of shareholder gains in the company, a rally that has pushed up against longer standing distributive pressure in the stock.
In addition, the company has seen interest climb, with an increase in recent trading volume of just shy of 480% above its longer-run average levels.
Dr. Eyal Ballan, Co-founder and CTO, said: “I am excited to share the positive results and hope for meaningful collaborations with industry leaders in cancer treatment. There is an advantage in developing cannabis medicine since we explore compounds that are been delivered to patients worldwide and to finetune the antitumor potential in such a dispersed treatment has a promising value.”
Currently trading at a market capitalization of $148.92M, CNBX has a bankroll ($2.2M) of cash on the books, which must be weighed relative to about $523K in total current liabilities. CNBX is pulling in trailing 12-month revenues of $10K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 88.2%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $CNBX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $CNBX, either long or short, and we have not been compensated for this article.