Cannabis Science Inc (OTCMKTS:CBIS) is trending downward over the last 90 days, but the company has opened up some interesting revenue buckets that could eventually turn the tide. CBIS currently carries a marketcap of $121.87M with outstanding shares at 2.39B. Last time we covered the company, we wrote about the newly announced ability to receive government contracts, but with no contract or revenue, the market added a 20% bump over this announcement.
The company defines itself according to the narrative of a leading-edge researcher and designer of cannabinoid solutions to health problems. CBIS is involved in developing medicines for autism, blood pressure, cancer and cancer side effects, as well as for other illnesses comprising for general health maintenance. It also develops CS-TATI-1 for newly diagnosed and treatment-experienced patients with drug-resistant HIV strains, as well as those intolerant of available therapies; CS-S/BCC-1 to treat basal and squamous cell carcinomas; and a proprietary cannabis-based therapy for neurological conditions.
Cannabis Science Inc (OTCMKTS:CBIS) also has collaboration with IGXBio, Inc. to develop GenePro, a DNA-based immunotherapeutic drug. In addition, CBIS offers an online video-based medical cannabis education system, including courses, such as medical cannabis law, medical marijuana, cooking, horticulture, and bud tending; and manufactures and distributes specialty horse and pet grooming and topical applications. It has a license agreement with Apothecary Genetics Investments LLC to produce various brand formulations for California medical cannabis market.
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CBIS is working to continue testing and providing limited rollouts for its own CBD-based treatment products in California at the moment. CBIS initial focus is on skin cancers, HIV/AIDS, and neurological conditions. The Company is proceeding with the research and development of its proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively. The CS-S/BCC-1 drug program was launched in 2011 due to the “apparent success in 4 skin cancer patients who have self-administered cannabinoid based extracts topically to their skin cancers. These patients have experienced shrinking and apparent eradication of their skin cancer lesions.”
On January 3, 2017, Cannabis Science entered into a CRA with Dana-Farber, one of the world’s leading cancer centers. Under the terms of the CRA, Cannabis Science and Dana-Farber will jointly investigate and develop use of cannabinoids to treat various forms of cancers.
“I am excited about Cannabis Science’s relationship with Dana-Farber. When I first met Wilfred Ngwa, PhD, Director of Global Health Catalyst at Harvard Medical School and Principal Investigator for the CRA, we immediately realized potential synergies on cancer research interests, and the potential to collaborate to develop cannabinoid-based medicines to treat cancer and control cancer symptoms with minimal side-effects,” stated Dabney.
Cannabis Science Inc (OTCMKTS:CBIS) is an interesting stock to watch because of the sector’s growth potential, but dilution here is an issue. The stock is in decline mode and even with decent cash saved ($300k), it is important to consider that testing and clinical trials are expensive and time consuming. The stock is on a slide and it seems only a matter of time before all the cannabis stock around the market start to shake out into pretenders and the real thing. A saavy trader could find value here because the company has little debt and a strong presence on social media. Also, CBIS could pull in a large government contract, and, well, then, we are off to the race. For continuing coverage on shares of Cannabis Science Inc stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!