Traders Alert: Axim Biotechnologies Inc (AXIM), General Cannabis Corp (CANN), Earth Science Tech Inc (ETST)
Axim Biotechnologies Inc (OTCMKTS:AXIM) showing dropped of -7.97% and closed at $12.70, after gaining total volume of 40,148.00 shares. It earnings per share (EPS) is -$0.31 and It has total market capitalization of $653.96 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.
General Cannabis Corp (OTCMKTS:CANN) increased 1.32% closed at $2.15 and traded with total volume of 64,312.00 shares, while the average trading remained 130,050.00 shares. During last trade its minimum price was $2.11 and it gained the highest price of $2.15. Its market capitalization was $40.95 million.
General Cannabis Corp (CANN) on March 31, 2017 announced financial results for the year and quarter ended December 31, 2016.
“Our year-over-year revenue growth of 69 percent and quarter-over-quarter revenue growth of 13 percent comes from both organic growth and a full year of expanding the businesses we launched in 2015,” said Robert Frichtel, Chief Executive Officer of General Cannabis. “With 28 states and the District of Columbia now having legalized medical marijuana, of which eight states also legalized recreational use, there is a tremendous opportunity for us to significantly expand our business in 2017.”
“We also have been focusing on managing our operating costs and expenses, and incurred only an 11 percent year-over-year increase, even as our revenue grew” Frichtel added. “We have demonstrated our ability to acquire and develop substantial companies that serve this rapidly expanding industry.”
Earth Science Tech Inc (OTCMKTS:ETST) reported the surge of 21.00% and closed at $1.21, with the total traded volume of 47,354.00 shares. During last trade its minimum price was $1.00 and it gained its highest price of $1.24 and has a total of 40.91 million outstanding shares.
On March 6, 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 based company is proud to announce that its wholly owned subsidiary Cannabis Therapeutics timeline for its cannabis cannabinoid-based nutraceutical patent and generic pharmaceutical drug completion.
At a meeting with the company’s Advisory Board on Tuesday, February 28th at Le Centre Québecois d’Innovation en Biotechnologie (CQIB) in Laval, Québec; the scientists concluded that the improved CBD Hemp Oil food supplement was ready to move to prototyping, and then to be fast tracked to commercialization. In addition, two cannabinoid-based generic pharmaceutical drugs will be ready for pre-market clinical trials related to drug bioavailability by Q3 2017. Depending on the time needed to properly conduct the clinical trials, both of the pharmaceutical drugs looks to be completed by the end of 2017 or beginning of 2018.
The first or these two generic drugs, an anti-breast cancer drug, is an important advance for the company as breast cancer affects more women worldwide than any other cancer. The components of the anti-breast cancer drug that Cannabis Therapeutics is bringing to market are contained in the World Health Organization’s current Model List of Essential Medicines (2015). The WHO Model Complementary List indicates the essential medicines needed to treat priority diseases, such as breast cancer, by any healthcare system.