Shares of AXIM Biotechnologies (OTCMKTS:AXIM) continues to trade within a narrow range over the past few trading sessions.
On Tuesday, AXIM stock jumped 3% to close at $0.4117 with more than 113k shares, compared to its average volume of 120K shares. The stock has moved within a range of $0.4000 – 0.4169 after opening the trade at $0.4169.
Development of Rapid Test for COVID-19 Neutralizing Antibodies
International healthcare solutions company targeting Covid-19 diagnostics and oncological research, AXIM Biotechnologies (OTCMKTS:AXIM) on November 9, 2021, announced the publication in Journal of Clinical Virology describing the development of a rapid test for measuring levels of neutralizing antibodies towards SARS-CoV-2.
The publication is the first report of such a test which can gauge levels of neutralizing antibodies. Inexpensive, portable, and entailing a single blood drop, the test can be done in a point-of-care setting. Also, the test doesn’t cross-react with sera from patients’ other seasonal viral respiratory infections causing flu-like illnesses and cold.
The publication shows test capacity for gauging levels of neutralizing antibodies in vaccine recipients along with infected individuals.
Dr. Douglas Lake, an associate professor at ASU and lead author of the publication said that the antibodies are unequal and most antibody tests just detect antibodies for spike or nucleocapsid. Lake added that this test measures functional antibodies as well as neutralizing antibodies and that neutralizing antibodies form a molecular force field in tissues and blood preventing the virus from infecting cells.
John Huemoeller, CEO of AXIM Biotech said that the ongoing infections arising from Covid-19 show that it is essential to ensure antibodies are high for preventing infection. He added that the test enables a person to know and monitor levels of neutralizing antibodies without the need to send a tube to a lab for an expensive test.
Dr. Douglas Lake, an associate professor at ASU and lead author of the publication says, “All antibodies are not created equal. Most antibody tests for COVID simply detect antibodies to either spike or nucleocapsid (viral core), but this test measures levels of functional antibodies: neutralizing antibodies–antibodies that prevent the virus from infecting cells. Neutralizing antibodies form a molecular force field in blood and tissues that prevent the virus from infecting cells.”
AXIM stock is trading below the 20-Day and 50-Day Moving averages of $0.44 and $0.53 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.66. The stock is down 15% over the past month.