AXIM Biotechnologies Inc (OTCMKTS:AXIM) Stock Pulls Back a Bit After The Recent Rally

Shares of AXIM Biotechnologies Inc (OTCMKTS:AXIM) fell a bit in the previous trading session on profit booking.

Market Reaction

On Tuesday, AXIM stock fell 6.40% at $0.44 with more than 89k shares, compared to its average volume of 123k shares. The stock has moved within a range of $0.4252 – 0.4700 after opening trade at $0.47.

Partners with Arizona State University to Determine Antibody Levels Against COVID-19

Vertically integrated research and development company focusing on changing landscape of diagnosis of covid-19, dry eye disease as well as Oncological indications, AXIM Biotechnologies, Inc (OTCMKTS:AXIM) on November 16, 2021 announced partnering with Arizona State University for developing COVID-19 “Correlate of Protection” using its rapid neutralizing antibody test.

The study between Arizona State University and AXIM will be addressing the unmet need as well as determine threshold for neutralizing antibody levels if they reduce. This will ensure “Correlate of Protection”.

Dr. Douglas Lake at ASU will be enrolling high-risk population as well as monitor  neutralizing antibody levels weekly utilising AXIM’s rapid neutralizing antibody test.

Dr. Lake said that using the study can help people keep antibody levels high enough for avoiding infection as well as potential transmission.

John Huemoeller, CEO of AXIM Biotech said that the company’s rapid test demonstrates that someone’s neutralizing antibody levels are low, healthcare providers may recommend booster dose of COVID-19 vaccine.

The study would also be answering question such as how low can neutralizing antibodies levels go before a person isn’t protected from COVID-19 infection.  Though both antibodies and T cells are a part of protection from COVID-19, anti-viral T cell responses are difficult to measure.

AXIM’s rapid test is special as it gauges levels of neutralizing antibodiesproviding protection from infection if blood levels are high enough.

Key Quote

Dr. Lake stated, “We expect that people whose neutralizing antibody levels are high will not become infected compared to those that have low levels of neutralizing antibodies. Using this study design, our goal is to develop a ‘Correlate of Protection’ so that people can keep their antibody levels high enough to avoid infection and potential transmission of the virus to vulnerable populations.”

Traders Review

AXIM stock is trading below the 20-Day and 50-Day Moving averages of $0.44 and $0.51 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.66. The stock is down 9% over the past month.

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