There’s a lot that has changed over the last few years in the United States. This includes America’s stance and legalization of medical and recreational marijuana. The market was a bit hesitant on the topic as the new president-elect Trump brought on a staunch republican to be his choice for attorney general. “Good people don't smoke marijuana," said Alabama Republican Sen. Jeff Sessions in an April Senate hearing.
But despite the case of Sessions’ latest appointment, this hasn’t stopped marijuana stocks, especially those dealing with the biotech segment of the market, from seeing a rise in price. These include Vitality Biopharma, Inc. (VBIO), AXIM Biotechnologies, Inc. (AXIM), PharmaCyte Biotech, Inc. (PMCB), and Marijuana Company of America, Inc. (MCOA).
Vitality Biopharma recently announced that the company is advancing its cannabosides pharmaceuticals for treatment of narcotic bowel syndrome, a severe form of opiate-induced abdominal pain. According to the company, the clinical use of cannabinoids for resolving pain and inflammation is well established, including in large independently conducted clinical studies of inflammatory bowel disease, where 84% of patients reported an improvement in abdominal pain.
Since summer the stock has been trading in a much higher range. For example, on July 20 shares of Vitality saw a price of $0.60. This past Friday the stock closed at $1.60, which is 100% higher than where it was in the summer. Shares of VBIO have traded as high as $1.84 within the last 3 months.
AXIM Biotechnologies has also been no stranger to an increase in stock price over recent months. In October the stock was trading around $0.35 and as of Friday, shares of AXIM closed at $8.66. It has even seen prices as high as $10 per share within the last 45 days. It was announced last week that AXIM filed an IP application with the World Intellectual Property Organization on a proprietary method to extract THC-A from cannabis plants and to achieve THC with higher purity than conventional methods being used in the market today. The IP was generated in collaboration with Syncom B.V., a Netherlands-based premier company in custom synthesis solutions for the pharmaceutical and biotech industry.
PharmaCyte Biotech is a biotech company working to develop certain cancer therapies. One of their goals is to develop unique treatments for difficult-to-treat and deadly forms of cancer, such as brain cancer and will work to do this through a combination of their Cell-in-a-Box® cellulose-based live cell encapsulation technology with constituents of Cannabis known as cannabinoids.
Just last week the company announced that a Pre-Investigational New Drug meeting with the Center for Biologics Evaluation and Research of the U.S. Food and Drug Administration had been granted by the FDA. After hitting lows in November of nearly $0.02, the stock has recovered. Over the last few weeks shares of PharmaCyte have hit highs of nearly $0.08. On Friday the stock closed at $0.0702.
Though not directly dealing in biotechnology, Marijuana Company of America has attracted the attention of the canna-bulls. Since trading under a penny in late September, the company’s stock has moved as high as $0.1985. Following recent lows of $0.0251 Marijuana Company of America has seen a recovery by more than 110% as of Friday’s closing price of $0.054. A few weeks ago the company announced that it has now commenced generating revenue and started to ship orders for its hempSMART Brain product. According to the company, this lead product is formulated with CBD or Cannabidiol as the core ingredient combined with high quality branded ingredients to compliment the CBD to support brain health.
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