It just emerged that Axim Biotechnologies Inc (OTCMKTS:AXIM) has filed a utility patent application relating to a novel biomarker for the detection of cancer in blood serum and urine. The stock took flight in reaction, rallying over 200% in two days to close out last week.
According to the release, the patent application is based on Sapphire’s discovery of the long splice variant of the enzyme, quiescin sulfhydryl oxidase (QSOX1-L), as a biomarker in bladder cancer patients’ sera that was highly specific for the presence of cancer and was low or non-existent in normal donors’ sera. This is the first time that a clinically relevant QSOX1-L splice variant has been identified as a unique biomarker of bladder cancer and other cancers in serum.
Axim Biotechnologies Inc (OTCMKTS:AXIM) bills itself as a biotechnology company that researches, develops, produces, and sells pharmaceutical, nutraceutical and cosmetic, and genetically controlled botanical products.
It also engages in the extraction and purification of cannabinoids technologies based on its proprietary technologies.
The company sells its products through Internet, direct-to-consumer health and wellness stores, collectives, cooperatives, and affiliate sales and master distributors. Axim Biotechnologies, Inc. was formerly known as Axim International Inc. and changed its name to Axim Biotechnologies, Inc. in July 2014.
The company was founded in 2010 and is headquartered in New York, New York.
According to company materials, “AXIM® Biotechnologies, Inc. (OTCQB: AXIM) is a world leader in research and development of cannabinoid-based pharmaceutical products. AXIM is developing broad IP portfolio covering diverse aspects of both technology and clinical indications. Planned clinical development programs cover diverse indications including diseases with currently unmet or poorly met treatment needs and providing solutions with potentially significantly reduced side effects to the currently available ones.”
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As noted above, AXIM just announced that it has filed a utility patent application relating to a novel biomarker for the detection of cancer in blood serum and urine.
We’ve witnessed nearly 260% during the past month in terms of shareholder gains in the name. Moreover, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running just under 480% above the average volume levels in play in this stock over the longer term.
“By enabling detection with a simple blood test and providing an important tool for oncologists to assess the treatment protocol for patients, Sapphire’s diagnostics products have the potential to change the way in which cancer is detected and treated,” said AXIM® Biotech CEO John W. Huemoeller II.
Earning a current market cap value of $59M, AXIM has a chunk ($725K) of cash on the books, which must be weighed relative to about $3.4M in total current liabilities. AXIM is pulling in trailing 12-month revenues of $799K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 71.5%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $AXIM 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 $AXIM, either long or short, and we have not been compensated for this article.