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Axim Biotechnologies Inc (OTCMKTS:AXIM) Is Gaining Strength On Optimal Dose Results

Here at Insider Financial, we’ve covered Axim Biotechnologies Inc (OTCMKTS:AXIM) on a number of occasions, be it directly or by way of a Medical Marijuana Inc (OTCMKTS:MJNA) focus. The latter holds a major portion of the former, and so the fortunes of the two companies are – for now at least – very closely linked.

This week, Axim has once again drawn our attention, by way of some data relating to its lead cannabis pharmaceutical asset, and via management attending the J.P. Morgan healthcare conference. For those not familiar with the conference, it is probably the number-one date on the biotechnology and healthcare event calendar, and companies big and small attend to take the stage and present, but also to – as is the norm at these sorts of events – network and secure business relationships. Many deals are done at J.P. Morgan, and many mergers and acquisitions are borne out of discussions that started at the event.

Axim is there as we speak, so with any luck, we will get some degree of insight over the coming weeks as to what – if anything – management was able to achieve at the conference. That’s a near-term catalyst, but one that just hit press, and one that is driving some real upside momentum in the company, is the above-mentioned lead asset data.

We say data; there isn’t too much clarity offered by the report, but it does illustrate some degree of forward movement for the company, and that’s just as important. Specifically, the news addressed the progress of Axim’s CanChew Plus CBD Gum. The gum is designed to treat a variety of conditions for which the active ingredient – hemp derived CBD – has demonstrated some degree of clinical benefit in legacy trials. The difference here, however, is the administration method. As the name of the asset suggests, it is a chewable drug, with CBD disseminated into the bloodstream as and when the patient chews the product.

Axim is currently investigating CanChew as a potential therapy for patients suffering from irritable bowel syndrome (IBS), and is in the process of collecting primary data, which it then intends to use to set up a protocol for the clinical investigation. The recent announcement outlined the company’s efforts to determine the pharmacokinetic profile of CanChew, in an attempt to put forward the optimal dose for the clinical investigation. Specifically, the company looked at two CBD concentrations – 10 mg and 30 mg. The outcome of the study suggested that the pharmacokinetic profile of the higher dose – the 30 mg dose – was better suited for clinical investigation, and chances are that this is the dose that Axim will be carrying forward into the clinic. According to the release, the 30 mg dose showed “excellent results”.

It’s not massive news. For those not familiar with the space, pharmacokinetic profiles basically just relate to how an active ingredient transfers from a drug to a patient’s bloodstream. In this instance, which dose resulted in the highest level transfer of CBD from the chewing gum, on chewing, to the stream of the patient. That the 30 mg dose came out on top isn’t really surprising. With that said, these early stage investigations are necessary from a preclinical perspective if the company wants to get an IND past the FDA, and so while it seems slightly trivial, it’s an important step forward.

As a side note, it was Medical Marijuana Inc that put out the release, not Axim, and the former is actually down close to 10% on yesterday’s market capitalization.

As of September 30, 2016, Axim had a little over $870,000 cash on hand and just shy of $1.5 million debt. Chances are we are going to see some degree of capital raise near term, therefore, as a way of funding the jump into the clinic for CanChew in the IBD indication. With the number of catalysts potentially set to hit press on this jump, a dilutive raise shouldn’t be too prohibitive to an exposure, but it needs to be taken in to consideration before picking up a position.

We will be updating our subscribers as soon as we know more. For the latest updates on AXIM, sign up below!

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Disclosure: We have no position in AXIM or MJNA and have not been compensated for this article.

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Axim Biotechnologies Inc (OTCMKTS:AXIM) Is Gaining Strength On Optimal Dose Results
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  1. Pingback: Axim Biotechnologies Inc (OTCMKTS:AXIM) Remains A Top Cannabis Pick | Insider Financial

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