AXIM Biotechnologies Inc (OTCMKTS:AXIM) Stock Gains After Signing Exclusive Global Commercialization Agreement

It was a strong start to the new trading week for shareholders in AXIM Biotechnologies Inc (OTCMKTS:AXIM) as the company’s stock went on a rally and ended the day with gains of as much as 10% amidst significant interest.

Trading Data

On Monday, AXIM stock surged 9.60% to $0.0965 with more than 441.85K shares, compared to its average volume of 468.09K shares. The stock moved within a range of $0.0820 – 0.0999 after opening trade at $0.0820.

AXIM® Biotechnologies Signs Exclusive Global Commercialization Agreement With Verséa™ Ophthalmics for Distribution and Sales of Novel Ophthalmic Diagnostics Solutions

The global healthcare solutions firm came into focus on Monday after it announced that it had inked a global commercial partnership agreement of exclusive nature with Versea Ophthalmics LLC. It is a unit of Versea Holdings Inc, which is currently one of the fastest-growing healthcare companies in the United States. Versea Ophthalmics is involved in the distribution and sales of ocular therapeutic and diagnostic products.

As per the terms of the agreement, Versea is going to be provided with exclusive commercial rights to the three important biomarker diagnostic tests and the proprietary point of care lab testing readers from AXIM. The three different tests from AXIM need only 0.5 microliters of tears from an individual and provide quantitative results in less than 10 minutes. That is the shortest test return time in the industry and hence, the access to those tests exclusively could prove to be a significant deal for Versea. AXIM has been working on scaling up its operations in recent times in anticipation of such orders.

Key Quote

“This is an exciting day for AXIM, one that has been years in the making – this is the moment where we move from a development-stage biotech company to a revenue-generating healthcare organization,” said John W. Huemoeller II, Chief Executive Officer of AXIM Biotech. “Since the development of our novel ocular diagnostic tests and subsequent success in proving their effectiveness, rather than building an internal team to commercialize the tests, we have been searching for a partner with a solid commercial infrastructure and a firm commitment to eye care, capable of bringing our tests to clinical offices on a global scale. I am more than confident that we have found that partner in Verséa. With existing sales channels to support their human amniotic membrane therapeutics, Verséa has expressed strong support for our business and true excitement for adding our technology to their expanding portfolio of healthcare solutions. I personally believe that together, we will be able to change the landscape of dry eye disease diagnosis.”

Technical Data

AXIM stock is trading above the 20-Day and 50-Day Moving averages of $0.0787 and $0.0598 respectively. However, the stock is trading below the 200-Day moving average of $0.1374.