Stock on the Move: Axim Biotechnologies Inc (AXIM), Earth Science Tech Inc (ETST), General Cannabis Corp (CANN)
Axim Biotechnologies Inc (OTCMKTS:AXIM) showing jumped of 11.03% and closed at $14.19, after gaining total volume of 105,442.00 shares. Its earnings per share (EPS) are -$0.31 and it has total market capitalization of $730.68 million and a total of 51.49 million outstanding shares.
Axim Biotechnologies Inc (AXIM) on March 28, 2017 announced that it has entered into a Term Sheet Agreement with a U.S.-based controlled-substances API (Active Pharmaceutical Ingredient) production company to develop a dronabinol-based functional, controlled-release chewing gum product based on AXIM IP and technology. The new dronabinol chewing gum product will be bioequivalent to Marinol, and used to help treat patients with chemotherapy induced nausea and vomiting and AIDS patients experiencing appetite and weight loss. Since its market introductions, Marinol remains the only FDA approved cannabis-based drug available in the US.
In its current form, Marinol is delivered through a gel capsule where 90% of the dronabinol is metabolized into 11-OH-THC due to the first-pass (liver) metabolism. This causes significant side effects for patients including impaired thinking and other adverse reactions. AXIM’s patented control-release chewing gum largely bypasses the first pass metabolism in the liver and results in decreased side effects for patients.
AXIM will work with this API-manufacturing company in the development of the Marinol bioequivalent chewing gum. The company will supply AXIM with the synthetic dronabinol (delta-9-THC) for use in these trials. AXIM will then conduct a bioequivalency study. Following the completion of the study, AXIM will seek FDA approval to bring this chewing gum product to market.
“This is a substantial step forward to improving the current product offerings on the market for patients who are suffering these types of symptoms,” said George E. Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM Biotech. “Currently there is a 40% drop-out rate of patients who take Marinol, we are hopeful that our innovative chewing gum delivery method will lead to decreased side effects and allow for a better quality of life for these patients.”
Earth Science Tech Inc (OTCMKTS:ETST) reported the plunge of -14.36% and closed at $1.61, with the total traded volume of 89,367.00 shares. During last trade its minimum price was $1.55 and it gained its highest price of $1.88 and has a total of 40.91 million outstanding shares.
On March 9, 2017 Earth Science Tech, Inc. (ETST), an innovative biotech company focused on cannabis (industrial hemp) and cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices, is pleased to announce it has formulated a new Cannabis CBD-based pre-workout sports supplement with Forzagen. Additionally, the company’s joint venture with Karmavore Superfoods is off to a good start, and their chocolates (infused with ETST CBD) are selling well.
The company recently announced a joint venture with Nutrition Specialties and Forzagen, (Earth Science Tech, Enters Multi-Billion Dollar Sports Supplement Industry via Joint Venture with Nutrition Specialties and Forzagen) where Earth Science Tech and Forzagen will formulate new CBD-based sports products. Earth Science Tech will help develop the market in the United States while Forzagen will develop the market in Mexico and other international accounts. Earth Science Tech, together with Forzagen, have formulated a full-spectrum CBD-based pre-workout supplement called Black Demon 2.0. The supplement was formulated for serious athletes, and is incredibly potent. Forzagen and Earth Science Tech will be splitting both the costs and revenues of Black Demon 2.0, and it is currently in the label design phase. It is expected to be bottled and start selling within Q2 or Q3 of 2017.
“We have seen great success with our non-CBD products in the past, but we are expecting even greater success with Black Demon 2.0,” said Forzagen owner, Jose Bucay, “We’ve already have competitive athletes testing the supplement, and have nothing but positive feedback in regards to Black Demon 2.0. We think we’ve got a true hit in the making.”
General Cannabis Corp (OTCMKTS:CANN) increased 2.51% closed at $2.25 and traded with total volume of 161,999.00 shares, while the average trading remained 169,236.00 shares. During last trade its minimum price was $2.10 and it gained the highest price of $2.28. Its market capitalization was $37.01 billion.
General Cannabis Corp (CANN) on March 27, 2017 announced that its security division, Iron Protection Group (IPG), the premier provider of protection services for the regulated cannabis industry, will begin offering its services in California. By opening an office in Sacramento, IPG will serve the largest regulated cannabis market in the world, now that the state voted to legalize the recreational use of marijuana for adults last November.
“The demand for security services in California is skyrocketing,” said Hunter Garth, Managing Director of IPG. “As a known security leader in Colorado, we are now seeing a dramatic rise in security and transportation requests from companies throughout the state. By opening our first office in the state capital, we plan to fulfill a vital component of the regulated cannabis industry in this substantial market.”
Glenn Weatherly, Iron Protection Group director of operations, will lead the company’s California office. IPG, which is staffed primarily with United States military veterans, expects to continue that practice in California.
“We look forward to working with cultivators and dispensaries in California, as well as hiring veterans throughout the state,” Weatherly said. “Through serving in these wars overseas and experiencing a true trial by fire, we have come to a place where our skills have been refined, honed, and highly specialized, and our passion for protection has become unparalleled.”
IPG was established in 2014 and acquired by General Cannabis, headquartered in Denver, in March 2015.
“Iron Protection Group’s entry into California is the first significant phase of our company’s expansion in this growing market,” said Robert Frichtel, Chief Executive Officer of General Cannabis. “Much of the regulated cannabis industry is now laser-focused on this huge market and we see vast opportunities to expand all our businesses and increase revenue as the industry grows exponentially in the state.”