Despite troubles among most biotech companies this past year, some companies, like AXIM® Biotechnologies, were able to capitalize on market positioning, new innovations, and investor excitement to make major stock price gains.
Medical Marijuana, Inc. investment company AXIM® Biotechnologies has seen a wave of good news this fall, sending the company’s stock on a 2000% increase year to date and causing Fox Business to name them to their Top 5 biotech stocks for the year. AXIM® stock prices outgained all others on the list by nearly 1500 points, placing them on the top of the list.
Most recently, the company announced that it filed an intellectual property (IP) application for its proprietary method to extract high purity THC. Standardizing this stage in its process is critical to the company’s development of cannabinoid-based pharmaceuticals and protects its innovation, placing AXIM® in a competitive position to dominate the market.
This news came on the heels of AXIM® being granted an extension on their exclusive patent on delayed-release cannabidiol gum to include all cannabinoids. The extension gives AXIM® Biotechnologies a unique opportunity to develop their cannabinoid-infused chewing gum for a range of medical indications.
“This new patent extension is a huge step forward for AXIM® as it now encompasses an additional 85+ cannabinoids, as well as the unlimited combinations of these therapeutic compounds,” Medical Marijuana, Inc. CEO Dr. Stuart Titus said on news of the funding. “This is strategically important for AXIM® as the company searches for answers to specific disease indications – utilizing both botanical and/or synthetic cannabinoid formulations. No other group may introduce a rival cannabinoid product with this delivery mechanism.”
Earlier in the year, AXIM® announced that it had secured the necessary funding to move forward on several cannabinoid-based clinical trials, including trials on its MedChew® RX, CanChew® Plus, and AX-1602 topically applied cannabinoid ointment. The company also published a development pipeline chart to reveal their new drug schedule for the coming months and years.
“We are honored to support an organization that dedicates itself to helping those with chronic pain, a national epidemic that affects nearly 100 million Americans,” said Dr. George E. Anastassov, CEO of AXIM® Biotechnologies. “Like the U.S. Pain Foundation, AXIM also believes in making an impact on individuals’ well-being, which we do through products that treat conditions for which there is currently no effective remedy.”
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