MYDX
MyDx Inc. is a science and technology-related company having a major focus on the growing cannabis industry. The headquarters of MyDx is located in San Diego, California, United States. The company has a major focus on the consumer products, biopharmaceutical, data analysis and SaaS (Software as a Service).
Consumer Products: CannaDx sensors, MyDx 2 Sensors and delivery devices meant to provide smart services to the users.
Biopharmaceutical segment: This segment is meant to identify, license and market the green active pharma products and the related formulations.
Data analysis: There is clinical analysis made before bringing the product to the clinical implementation and with regard to the patient feedback ecosystem.
SaaS: Software services are provided for the prescribers, healthcare groups, regulators and cultivators. The products are distributed through e-com companies, direct to the retail sector and affiliate partners.
The chemical detection and sensor products are highly useful for the people to verify what they are putting on their body and mind. MyDx product was the first one floated by the company and it is known as ‘My Diagnostic’ and it is a patented analyzer helping people to test for chemicals in water, food pesticides, air toxins and safety and potency of marijuana samples. The initial focus was done with the CannaDx application. The application has over 10 million data points enlisting the chemical profile of the cannabis being consumed under the data analytics, biopharma or SaaS field.
The commitment of the company is to address the critical need for the promotion of the safety, regulation and transparency of various markets. The consumer-generated data can drive innovation in the cannabis industry and give it a newer version. MyDx is the portable analyzer having an effective and cost-effective use for the detection of chemicals which can’t be seen from the naked eye. MyDx is leading in cannabis health sector and has created the first analyzer for cannabis users. The first quarter earning results of the company have been $880k which was under a loss at the same time in the previous year.
The streamlining of operations with minimum wastage have been the policy of the company this year. The gross profits have been even higher and the operating costs were reduced to one-third of the value, in comparison to last year. The commercialization of ECOSmartPen was quite expensive for the research and development team but it led to an increased scope for the marketing of the product. MyDx has been continuously delivering the long-term growth strategies and the databases are utilized for millions of data points related to cannabis chemical profiles. MyDx360 is an integrated service suit designed exclusively for providing access to legal cannabis market with the products being designed with the latest technology.
The market capitalization of 13.67M will soon reach towards a higher point with the investor trust over the company’s policies. The low value of stocks in 52-weeks was $0.0026 and the highest was $0.010. The company is progressing with its new products and soon, it will be a big plus for the investors with the outgrowth of its exclusive products for cannabis industry.