Cannabix Technologies Inc (OTCMKTS:BLOZF) took a large leap upward this week – soaring up more than 20% – after the company released an interesting announcement on their cannabis breathalyzer. BLOZF tested a beta-version of their breathalyzer and the test identified two metabolites of THC.
This is big news for the company because as legalization goes countrywide in Canada and more and more states in the U.S. keep legalizing, cannabis breathalyzers might be crucial for law enforcement. BLOZF’s breathalyzer has been able to detect THC and the company has even been working to store samples for extended analysis.
Cannabix Technologies Inc (OTCMKTS:BLOZF) is developing its FAIMS- (field asymmetric waveform ion mobility spectrometry) based marijuana breathalyzer for the detection of delta-9-tetrahydrocannabinol in human breath.
Testing using the Cannabix Marijuana Breathalyzer Beta prototype device with human subjects after smoking THC cigarettes demonstrated the successful detection of THC, the psychoactive component of marijuana, in real-time. In addition to THC, several metabolites were identified in the breath of the human subjects including 11-hydroxy-delta-9-tetrahydrocannabinol and delta-9-carboxy-tetrahydrocannabinol, and three other cannabinoids related to cannabigerol were confirmed by mass spectrometry after the inhalation of cannabis.
The ability to detect THC and its metabolites in human breath is a significant scientific breakthrough that allows for real-time pharmacokinetic analysis. Such analysis provides a method for the identification of frequent users of marijuana who tend to retain THC in their body for longer periods of time, relative to infrequent marijuana users who tend to clear THC from their body more quickly.
Cannabix Technologies Inc (OTCMKTS:BLOZF) According to company materials, “Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. BLOZF has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana-impaired driving offenses on roads at a time when marijuana is becoming legal in many global jurisdictions. Cannabix is working to develop drug-testing devices that will detect THC- the psychoactive component of marijuana that causes intoxication- using breath samples. In particular, Cannabix is focused on developing breath testing devices for detection of recent use of THC, in contrast to urine testing for THC metabolite that requires an invasive collection and reflects use days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where intoxication by THC can be hazardous.”
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Rav Mlait, CEO of BLOZF, stated, “With the passing of Bill C-45 in Canada the growing problem of drugged driving will increasingly become an issue of paramount concern for federal, provincial and civic governmental officials and the public at large who are concerned about maintaining public safety on our roads, institutions and in our workplaces. A recent study by the Governors Highway Safety Association found that drugs are being detected more often in drivers responsible for fatal crashes. The problem of drugged driving is compounded by lack of a nationally accepted method for testing drugged driver impairment. Cannabix Technologies has been at the forefront of research and development in this arena and understands the complexities related to breath testing for marijuana. As the issue of drugged driving becomes increasingly acute, Cannabix is committed to using its technology, R&D and scientific experience to provide effective tools to aid law enforcement and help governments and the public transition to marijuana legalization in various jurisdictions.”
BLOZF has been trending down over the last three months – trading a little below its peers, down around 11% – but the stock is approaching closer and closer toward commercializing this product. This product would make testing for cannabis on the road very simple and easy, and, as stated above, there is not a solid method yet established for states and provinces as of yet.
Cannabix Technologies Inc (OTCMKTS: BLOZF) has a market cap of 160.72M with a float of 90.13M. Average volume has been starting to spike over the last ten days registering over 200k. This stock has been dormant for some time, but now as legalization hits the North, it is time to put this one back on your radar. Sign-up for continuing coverage on shares of $BLOZF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $BLOZF, either long or short, and we have not been compensated for this article.
By: Gene Daniel, Oracle Dispatch