NovAccess Global Inc. (OTC:XSNX) Stock Rallies After a Key Update
As another trading week moves into gear, investors are again going to be on the lookout for the next set of stocks to look into, and one stock that could currently be in that mix is that of NovAccess Global Inc. (OTC:XSNX). It is a preclinical biomedical firm involved in the development of unique immunotherapies for patients suffering from brain tumour.
On November 10, it came into focus after it announced that it had added a new member to its Scientific Advisory Board in the form of Dr. Roscoe M. Moore Jr. A new appointment to the Scientific Advisory Board of an innovative company is almost always seen as a major development. In this context, it may be a good idea for investors to take a look into the credentials of the candidate in order to make up their minds about the merits of the appointment. Dr. Moore had been an officer in the Commissioned Corps of the United States Public Health Service (USPHS). He had made the entry into the career through the United States National Institute of Health (NIH) and went on to attain the rank of Assistant United States Surgeon General.
The latest addition took the strength of the NovAccess Global Scientific Advisory Board to 6. The Chief Executive Officer of the company, Dr. Dwain K. Irvin, spoke about the latest developments as well. He noted that everyone at the company was pleased at the fact that its personalized cancer immunotherapy platform had attracted the attention of someone of such worldwide renown and accomplishments as Dr. Moore.
He went on to add that Dr. Moore would bring considerable experience in the fields of academia, sciences, research, commercial healthcare organizations, government, and public service. NovAccess Global would want to make use of the experience of Dr. Moore and his professionals with NIH and other influential healthcare organizations so as to look for non-dilutive government funding. There are many such awards that the company would want to target, including the White House Cancer Moonshot, among others. He would be responsible for helping the company in the development of networks both in the United States and in the rest of the world.
The company had come into focus on July 27 after it announced that it had signed a Letter of Intent and also formed a partnership with BCN Biosciences for expanding its immunotherapy platform. BCN057, the small-molecule drug of BCN, had been developed with support from the National Institute of Health and through collaboration with the University of California Los Angeles (UCLA).
The company noted in its news release that BCN057 had been utilized for the purpose of developing a fourth generation of its unique brain tumor immunotherapy, tackling glioblastoma. The product from the company, named TLR-AD1, had also been designated as an orphan drug by the United States Food and Drug Administration. The product is meant to bring about improvements in the ability of the specialized blood cells, called DCs, or dendritic cells, to identify tumors.