Saturday, June 25, 2022

Cannabis Science Inc (OTCMKTS:CBIS) Springs Back Off Key Support

Cannabis Science Inc (OTCMKTS:CBIS) is a stock that’s been advancing nicely since we looked at it a couple weeks ago. At that time, we noted that it was mired in a tough sell-the-news reaction trade off the potent strength evident in the stock’s anticipatory move ahead of the big, landmark November 8 vote. However, we also covered what looked like some very promising indications about the company’s move to partner with a division at the Harvard Cancer Center.

Recent action has seen about 33% in gains in the past couple weeks. Furthermore, the company has registered increased average transaction volume recently, with the past month seeing 88% above the average volume levels in play in this stock over the longer term.

Cannabis Science Inc (OTCMKTS:CBIS) frames itself as a company that develops, produces, and commercializes phyto cannabinoid-based pharmaceutical products primarily in the United States. The company 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.

In addition, the company 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.

Cannabis Science Inc also has collaboration with IGXBio, Inc. to develop GenePro, a DNA-based immunotherapeutic drug. Cannabis Science, Inc. is based in Colorado Springs, Colorado. Cannabis Science Inc is a subsidiary of Weedmaps Media, Inc.

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The recent key news of importance is really more about a very positive tone to the company’s visit to the world-renowned Dana Farber/Harvard Cancer Center.

Dr. Wilfred F. Ngwa, Director of Global Health Catalyst at the center, was very constructive: “The Cannabis Science Presentation and Discussions was a Great Success and will lead to mutually beneficial partnership opportunities between Cannabis Science and Harvard Medical School.” Dr. Ngwa will lead the way to design and implement future joint research and mutually beneficial partnership opportunities.

Dr. Ngwa stated, “I must say that we were pleasantly surprised with the depth of knowledge, clearly targeted missions, and direct plan of action delivered by Cannabis Science. It was certainly refreshing and clear. We invited Mr. Dabney and his team to discuss the drug development success and progress the company had made over the years. Partnerships between the CBIS team and scientists here at the DF/HCC are expected to bring a deeper understanding of the potential effectiveness of cannabinoids in the treatment of cancer and other chronic diseases. We will outline the critical motivations for our research partnership with a view of successfully publishing these in a high impact peer-reviewed medical journal.”

A strong relationship with the center could pay dividends over time when it comes to credibility of research data and findings.

This will be important given the company’s struggles with an overwhelming amount of prior dilution. We have noted in the past that, controlling for reverse splits, the company has put out well over 19 trillion shares over the years. That makes any type of share price growth an uphill climb.

At this time, carrying a capital value in the market of $91M, CBIS has very little cash on the books, with total assets of nearly $1.1M, which stands against an appreciable load ($2.41M) of total accumulated debt. This is a poor balance sheet situation, and that needs to be taken into account along with the extensive dilution. The former is a predicament. The latter is a tendency. The conclusion should be somewhat self-evident.

That said, CBIS is acting well in recent weeks and has some positive catalysts in action in a very strong space. We will update the story again as new information comes into play. For continuing coverage on shares of $CBIS stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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