Irresponsible cannabis consumers beware, the Cannabix boogieman is coming for you…soon. Under a non-disclosure agreement with the private clinic, the Company plans to deliver its version 3.0 THCBA prototype in the coming weeks to begin breath testing with select patients. The private clinic working in cooperation with Cannabix is recognized as one of the top drug testing providers for employers in its respective state. If you’re trying to get a job and get high, good luck getting past these guys. Furthermore, the clinic has extensive experience beta testing various drug testing technologies and was even an early tester for oral swab devices commonly used in some jurisdictions today. With this in mind, the private clinic is ideal for the testing for Cannabix’s version 3.0 THCBA prototype.
Beta-testing for the Company’s THC breath analyzer is intended to train the device’s machine learning database to help determine sensitivity ranges and improve user and administrator experience. Additionally, gathered data will assist in identifying cross-reactivity of other substances with the study population. If you ask me, this sounds a lot like training a drug detection dog without the cute fluff.
However, Cannabix’s THCBA device is meant to perform drug screenings for employers looking for a way to conveniently test for recent THC use. Current forms of testing are often unreliable, identifying THC ranging from minutes to days prior to actual use. In contrast, breath analyzers are more reliable since THC is only present in a person’s breath for approximately one to three hours. This short period of time represents a peak impairment window and would indicate recent use of THC.
Even if this news isn’t exactly exciting, Cannabix’s recent growth has certainly raised some eyebrows. Following Cannabix’s recent acquisition of a U.S. patent for its marijuana breathalyzer, the Company saw its share price increase more than 50 per cent. Additionally, In accordance with a license agreement established June 5, 2014 between Cannabix and Cannabix Breathalyzer, a separate entity to the Company, Cannabix issued 5 million common shares to Cannabis Breathalyzer as a final milestone payment. After successfully acquiring a U.S. patent, Cannabix quickly reached a year high of $2.49, more than doubling a previous high of $1.07 in November. The Company’s stock performance continues to ride this high but appears to be leveling out.
Cannabix’s stock price opened at $1.55 and is up 1.97%. Following the news, the Company’s stock price quickly raised to $1.66 but has since dropped to $1.56.