Bioxytran Inc (OTCMKTS: BIXT) is making some solid move up the charts as the broader markets suffer their worst losses since 2008. The stock which saw recent lows of $0.136 has skyrocketed to recent highs of $0.80 per share after the Company stated its intention to explore partnering with international drug companies looking to treat end stage Wuhan Coronavirus patients that have Acute Respiratory Distress Syndrome (ARDS).
The coronavirus (COVID-19) outbreak poses a significant life-threatening and economic risk throughout the world. Over 82,500 cases have been diagnosed across 48 countries, including here in the U.S., resulting in over 2,800 reported deaths. The Trump Administration is looking to allocate approximately $2.5 billion in emergency funds to help prepare the country should the current coronavirus crisis become a public health care threat in the U.S. Other governments and global health authorities are taking similarly aggressive steps to prepare for the virus’s continued spread.
Bioxytran Inc (OTCMKTS: BIXT) is a developmental stage biotechnology company with a pipeline of anti-necrosis drugs designed to treat hypoxia by delivering a nanoscale oxygen carrier to affected tissues in the brain, heart, lungs, and other vital organs. The first product to proceed to testing is BXT-25, which will be evaluated as a resuscitative agent to treat strokes, especially during the all-critical first hour following a stroke. The product will also be evaluated for its efficacy in treating other brain trauma issues. BXT-25 is based on a new molecule designed to reverse hypoxia in the brain. Hypoxic brain injuries such as ischemic strokes, could be treated with BXT-25 via an intravenous injection that quickly allows the drug molecule to travel to the lungs and bind with the oxygen molecules. From the lungs the molecule mimics a red blood cell traveling to the brain. Since the molecule is 5,000 times smaller than red blood cells it can penetrate the clot and deliver the oxygen to the critical areas in the brain blocked by the clot. The MDX Viewer will be used in evaluation of the safety and efficacy of the BXT-25.
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On February 5 BIXT announced its intention to explore partnering with international drug companies looking to treat end stage Wuhan Coronavirus patients that have Acute Respiratory Distress Syndrome (ARDS). A majority of late stage coronavirus patients that end up with acute respiratory distress syndrome (ARDS) which has been commonly referred to as Severe Respiratory Distress Syndrome (SRDS) during this latest outbreak.
Until a vaccine is developed traditional methods of containment and prevention are the primary weapons of controlling the disease. According to the Centers for Disease Control (CDC) there are no known treatments for the 2019 Novel Coronavirus and this represents a growing unmet medical need. The primary cause of death from respiratory viruses like the coronavirus and influenza, are the result of the fluids accumulating inside the tiny air sacs of the lungs which ultimately leads to a breakdown of the surfactant lining in the air sacs guiding the transfer of oxygen to the blood.
Bioxytrans lead drug candidate BXT-25, is designed to be 5000 times smaller than blood cells and transport oxygen throughout the body. The half-life of BXT-25 is 9 hours and will continuously circulate until it’s processed by the liver.
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Currently trading at a $69 million market valuation BIXT has 86mm shares outstanding, little cash, very little debt and is pre revenue. The stock has seen a major boost after the Company stated its intention to explore partnering with international drug companies looking to treat end stage Wuhan Coronavirus patients that have Acute Respiratory Distress Syndrome (ARDS). We will be updating on BIXT when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BIXT.
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Disclosure: we hold no position in BIXT either long or short and we have not been compensated for this article.