Marijuana Stocks wrapup: Nuvilex Inc. (OTCMKTS:NVLX) finished on top Thursday, beating out past leaders Growlife Inc.(OTCBB: PHOT) and Transbyte Corp. (OTCMKTS:ERBB). Nuvilex Inc. closed the day trading at 0.365, up 0.053 (16.99%).
And if you're wondering how this biotech company aligns itself with the medical marijuana industry, here's your crash course: Nuvilex has a subsidiary, Medical Marijuana Sciences, Inc. which develops, "...cancer treatments based upon chemical constituents of marijuana known as cannabinoids. To do so, it will examine ways to exploit the benefits of Cell-in-a-Box® technology in optimizing the anticancer effectiveness of cannabinoids against cancers while minimizing or outright eliminating the debilitating side effects usually associated with cancer treatments..."
To understand Nuvilex is to refer back to its rise in February, which came on the wake of landing a 27 million-dollar funding deal. As a result, the company was able to move forward with clinical trials for the treatment of advanced inoperable pancreatic cancer. However, there is no stability on their chart, unless you consider their time above the 0.40 mark between Feb.28 and March 5 of this year. Otherwise, the chart is everywhere.
According to reports, the company reported via press release today they had contracted with Austrianova of Signapore for cGMP-Compliant Cell-in-a-Box(R) Encapsulation of Cells for Clinical Trials. According to the release the company will, "... perform the cGMP (Current Good Manufacturing Practices)-compliant encapsulation of live cells to be used for Nuvilex's clinical trials in patients with advanced, inoperable pancreatic cancer and associated conditions and other types of cancer..." However, up to this point, there are no reports of a medical marijuana connection.
Meanwhile, Growlife regained some ground from an earlier fall this week, trading at 0.649, up 0.046 (7.63%). Transbyte finished in the red at 0.0600, down 0.0018 (-2.91%). Other stocks in the green included: