Cannabix Technologies Advances with Contactless Breath Analysis Patent

Cannabix Technologies ( (TSE:BLO) ) has shared an announcement.

Cannabix Technologies has received a notice of allowance from the USPTO for its patent application on a contactless breath analysis device. This technology, which can be used in various environments like vehicles and workplaces, enhances Cannabix’s position in the breath analysis industry by offering fast and reliable testing without physical contact, potentially benefiting law enforcement, workplace safety, and public health monitoring.

Spark’s Take on TSE:BLO Stock

According to Spark, TipRanks’ AI Analyst, TSE:BLO is a Underperform.

Cannabix Technologies has a low overall stock score due to severe financial challenges, characterized by zero revenue and ongoing losses. While technical indicators and recent corporate developments provide some optimism, the company’s speculative valuation and financial instability remain significant concerns.

To see Spark’s full report on TSE:BLO stock, click here.

More about Cannabix Technologies

Cannabix Technologies Inc. is a developer of marijuana and alcohol breath technologies aimed at enhancing safety in workplaces, law enforcement, and other settings. The company focuses on breath testing for delta-9 THC, the main psychoactive component in cannabis, and has developed the BreathLogix autonomous alcohol screening device.

Average Trading Volume: 41,224

Technical Sentiment Signal: Buy

Current Market Cap: C$70.24M

See more insights into BLO stock on TipRanks’ Stock Analysis page.