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Saturday, November 26, 2022

Cannabix Technologies Inc (CNSX: BLO) (OTCMKTS: BLOZF) Steady Run Northbound Since Reversal Off 52 Week Lows (FAIMS for THC Detection in Breath)

Cannabix Technologies Inc (OTCMKTS: BLOZF) is making an explosive move up the charts in recent trading since reversing off $0.175 lows earlier this month. The stock has been around for years and was a big runner in the past hitting highs near $3 per share in January 2019 and again spiking to highs near $2 per share in January 2021. Now that BLOZF has reversed off its long down trend since it hit $1.90 in January 2021 the stock looks cheap under $0.50 with plenty of room for growth. 

On October 11 Cannabix announced it will be participating in a mid-October study date to test a supplemental version of its FAIMS technology for detection of ∆9-tetrahydrocannabinol (“THC”) and related analytes in human breath in a comprehensive multi-analysis study of subjects under the influence of marijuana in the southern United States. Cannabix has participated in two testing day events held in two different US cities in June and July. The October event will be held in a new location. 


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Cannabix Technologies Inc (OTCMKTS: BLOZF) is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix is developing breath testing technologies that can be used at the point of care to detect recent use of marijuana. Cannabix is developing its technology to help employers, law enforcement, government and the public, when marijuana is becoming legal for recreational and medicinal use in many jurisdictions globally. Learn more about our people and technologies. Cannabix is a public company listed on the Canadian Securities Exchange .

Cannabix has been on the cutting edge in technological innovation in overcoming the challenges associated with analyte detection in breath. When a molecule is ionized and exposed to a high electric field, its movement, or ion mobility, changes uniquely for each type of ion, based on its mass, shape, and charge.1 The Cannabix FAIMS device, based on high-field asymmetric waveform ion mobility spectrometry (FAIMS), capitalizes on this phenomenon, acting as a filter which allows a single type of ion of interest, in our case, ∆9-tetrahydrocannabinol (or “THC” the psychoactive component of marijuana that causes impairment) at a time to be isolated from background, detected, and potentially quantified. 

The Cannabix FAIMS device is designed to operate both independently or coupled in tandem directly to a mass spectrometer (MS), used in forensic labs. MS is considered the gold standard in toxicology for the analysis of drugs, poisons, and metabolites, due to its superior specificity and sensitivity. The highly selective Cannabix FAIMS device can potentially be employed in many related applications, either at the point of care or in the laboratory.  The Cannabix FAIMS device is used in combination with the Breath Collection Unit. The Cannabix FAIMS device is at the advanced prototype stage 

Microcapdaily has been reporting on Cannabix for years first covering the Company in 2018 reporting at the time: “Currently trading at a $145 million market valuation Cannabix has $4.9 million in the treasury, and virtually no debt. Cannabix is an exciting story in small caps; Cannabix is the developer of the Patent Pending Cannabis Drug Detection Device for law enforcement and the workplace. As recreational Cannabis is now legal in many US states and will be legal in Canada on October 17 the drug detection space is a booming and fast growing market; according to Market research engine the global Drug Screening Market is Forecast to Cross US$ 8 Billion by 2022.” 

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Earlier this year Cannabix reported it continues to successfully test a supplemental version of its FAIMS technology for detection of ∆9-tetrahydrocannabinol (“THC”) and related analytes in human breath in new comprehensive multi-analysis study of subjects under the influence of marijuana in the southern United States (see July 12, 2022 news release). In the Southern US study, Cannabix is working alongside toxicologists and law enforcement officers who are testing subjects under the influence of marijuana. The Company’s technology (proprietary breath capture and marijuana detection equipment, described below) is being used side by side with several conventional drug screening methods (blood, oral fluid etc.). Further details of the study will be available in due course when disclosure approvals are granted to the Company. 

In June and July, Cannabix participated in two testing day events held in two different US cities. Early study data is demonstrating very consistent correlation of levels of THC between breath samples collected and analyzed with Cannabix hardware and the current standard of whole blood. The Company’s updated handheld Breath Collection Unit (“BCU”, Fig. 1) and newly developed laboratory “MS Breath Sampler” (Fig. 2) were used together to provide a new ground-breaking method for drug detection that complements gold-standard mass spectrometry (MS), and significantly simplifies laboratory analysis methods, reduces sample turnaround time thus minimizing operating costs, while maintaining sensitive, precise results. 

The Company has developed a unique breath capture system, capable of collecting low volatility analytes, such as THC, from approximately 5 breaths, which is the first time that such a capability for low volatility analytes has been developed. In addition, the Cannabix device captures analytes efficiently such that the sample preparation steps needed in traditional methods are completely eliminated. The system has detected and confirmed THC in breath out to 4 hours after smoking with breath samples being stored and analyzed up to two days after sample collection. 

On October 11 Cannabix announced it will be participating in a mid-October study date to test a supplemental version of its FAIMS technology for detection of ∆9-tetrahydrocannabinol (“THC”) and related analytes in human breath in a comprehensive multi-analysis study of subjects under the influence of marijuana in the southern United States. Cannabix has participated in two testing day events held in two different US cities in June and July. The October event will be held in a new location. In the Southern US study, Cannabix is working alongside toxicologists and law enforcement officers who are testing subjects under the influence of marijuana. The Company’s technology (proprietary breath capture and marijuana detection equipment, described below) is being used side by side with several conventional drug screening methods including blood and oral fluid collection. Furthermore, a closed course driving test is planned for the mid-October study date to gauge impairment. Details of the study will be available in due course when disclosure approvals are granted to the Company. 

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Cannabix Technologies Inc is making a powerful run up the charts since reversing off $0.176 lows earlier this month. We have covered the stock many times before and it was a massive runner both in 2019 and 2021 and has a lot of potential from current levels. Trading both in the US and in Canada Cannabix  has been building a valuable intellectual property portfolio as it continues to work on its FAIMS technology for detection of ∆9-tetrahydrocannabinol (“THC”) and related analytes in human breath for law enforcement.  We will be updating on Cannabix when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Cannabix.

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Disclosure: we hold no position in Cannabix either long or short and we have not been compensated for this article.

 

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