CNBX Pharmaceuticals Inc (OTCMKTS:CNBX) on September 28, 2022, announced receiving a Notice of Grant for Patent by IP Australia, part of the Australian Government. The notice pertains to the patent titled: System and Method for High Throughput Screening of Cancer Cells. Granted for two decades, the patent began in May 2016.
Trading Data
On Wednesday, CNBX stock moved up 7.14% to $3.0000 with 2.31K shares, compared to its average volume 476 shares. The stock moved within a range of $2.7500 – 3.1500 after opening trade at $2.7500.
CNBX Pharmaceuticals Announces New Patent Granted in Australia
It is a part of the firm’s growing IP portfolio, including 8 patent families, 7 of which were granted patents and 18 extra pending. CNBX Pharmaceuticals’ portfolio focuses on cancer treatments and includes claims related to Pharmaceutical Compositions, Methods as well as Systems
The company also announced receiving a Grant of Patent notice by Patent Registry, Intellectual Property Department, Government of Hong Kong Special Administrative Region. This relates to its patent titled: System and Method for High Throughput Screening of Cancer Cells.
The firm believes that getting a patent by the Hong Kong Patent Registry proves its innovative approach to drug discovery in harnessing data from high throughput screening of compounds. This is being done to identify and expand specific compounds, which are effective as anti-cancer agents. The process was instrumental in producing a number of promising cancer treatment drug candidates. These are now at different stages of the regulatory pathway.
Technical Data
CNBX stock is trading below the 20-Day and 50-Day Moving averages of $3.14 and $3.62 respectively. Moreover, the stock is trading below the 200-Day moving average of $7.42.
