Cell MedX Corp (OTCBB:CMXC) is a company that is not very well known but has been making some big jumps recently off its $0.25 mark. It develops therapeutic drugs and technologies for patients, with conditions for diabetes. The company is in its development stages and needs investment. CMXC aims to do so by selling its stock. What the company lacks is a solid FDA approved product, which is expected to be achieved by 2017. Currently, the company along with its subsidiary, Avyonce Cosmedics Inc., sells SPA equipment.
The company also reported some success, with the pilot program of its first clinical trials that used e-balance technology on diabetic patients. The trial was aimed to confirm the safety, efficiency of this drug. Additionally the company aims to look for markers of improved diabetic control with the new technology and also check for any adverse effects. The results of these tests were analyzed by Metabolomics Innovation Center. The results did show changes in glucose and lipid metabolism. This could be one of the reasons why the stock registered an improvement. Furthermore, fresh recruiting was to be conducted in March for phase 2 of the clinical trials. More positive results could mean that the company would finally be able to get the much needed investment to continue working to achieve its goals.
In addition to this the company has added a new technology to its belt in November, acquired from two individuals. The company has also appointed the two individuals as its vice president of Corporate Strategy and vice president of Technology and operations. The company aims to push its stock up by acquiring the two new innovative minds.
The company, however, has little to show for itself, since it is said to be in poor financial conditions. CMXC has just around $45,000 in the bank, with increasing debts and no revenues to date. The company also operated under a range of brand names during the past year, making things difficult for itself in the market as well. Its current stock price stands at $0.325, which is a great jump from its base $0.25. Still the company does not have a ready product for sales right now, so it would be hard to keep the value up for too long.
