Marijuana Stock AXIM Biotech up 1,700% this Week

AXIM BioTech

We just noticed some marijuana stocks and this one is winning.

Axim Biotechnologies Inc (OTCMKTS:AXIM) is up 30% today. We noticed this stock on Tuesday when it was rallying 25% amongst the Marijuana Stocks to add to your radar in 2017.  Well it's a winner this week.
AXIM hit another 52-week high today and is closing in on $20 a share. Not bad considering last week it was under $10. This is a risky stock to trade as volume is normally 70+k shares daily and its on the over-the-counter market.
 
The only 'news' worth sharing on AXIM comes from InsiderFinancial.com yesterday (1/11/2017)

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.