AXIM Biotechnologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 20, 2023 at 04:30 pm EST
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AXIM Biotechnologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 0.009581 million compared to USD 0.001314 million a year ago. Net income was USD 0.32847 million compared to net loss of USD 2.03 million a year ago. Basic earnings per share from continuing operations was USD 0.001 compared to basic loss per share from continuing operations of USD 0.012 a year ago. Diluted earnings per share from continuing operations was USD 0.0007 compared to diluted loss per share from continuing operations of USD 0.012 a year ago.
For the nine months, sales was USD 0.026659 million compared to USD 0.001314 million a year ago. Net loss was USD 6.16 million compared to USD 5.34 million a year ago. Basic loss per share from continuing operations was USD 0.027 compared to USD 0.034 a year ago. Diluted loss per share from continuing operations was USD 0.027 compared to USD 0.034 a year ago.
Axim Biotechnologies, Inc. is a vertically integrated research and development company. The Company is focused on improving the landscape for the diagnosis of ophthalmological conditions such as dry eye disease (DED) through rapid diagnostic tests. Its core competencies include development of rapid lateral flow immunoassays, reagents, and monoclonal antibody development for such assays. Its product categories include Eye Health, wherein the Company acquired two FDA cleared tests for dye eye disease and has internally developed a third assay; and SARS-CoV-2 neutralizing antibody tests. The Company is focused on developing a proprietary diagnostic platform that can be adapted to test for a variety of analytes including SARS-Cov-2, Lactoferrin, IgE, Lacritin, and MMP-9. Its platform capability can also be applied to rapid testing for vaccine candidates. Its platform can also be used to enable point-of-care detection for one or more cancers using a unique cancer biomarker, QSOX1-L.