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Cannabix Technologies ( (TSE:BLO) ) just unveiled an update.
Cannabix Technologies has delivered multiple units of its Marijuana Breath Test hardware to Omega Laboratories Inc. in Ohio, marking the beginning of phased commercialization efforts. This collaboration aims to integrate Cannabix’s breath testing technology into Omega’s drug testing services, enhancing the detection of recent cannabis use. The partnership will focus on manufacturing, marketing, and distribution, potentially strengthening Cannabix’s position in the drug testing industry.
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 psychoactive component of cannabis, and has developed the BreathLogix autonomous alcohol screening device.
Average Trading Volume: 24,233
Technical Sentiment Signal: Hold
Current Market Cap: C$66.78M
See more data about BLO stock on TipRanks’ Stock Analysis page.