Growblox Sciences Inc (OTCMKTS:GBLX) is a medical cannabis company that has started to garner tremendous attention by OTC traders as we approach a potentially landmark sector-wide event on November 8, when 9 states will be voting on proposals to extend greater legality to cannabis use for either recreational or medicinal use.
The company recently caught more of a spotlight within the group after filing a provisional patent application covering the complex-cannabinoid-containing mixtures capable of enhancing dopamine secretion and protecting neurons from “the mitochondrial-induced free radical damage that occurs during disease progression in the brains of patients with Parkinson’s disease, Alzheimer’s disease, Lewy Body Dementia, and Huntington’s disease, among others.”
Growblox Sciences Inc (OTCMKTS:GBLX) is a Las Vegas-based firm that frames itself as a company that focuses on the research and development of medical cannabis drugs and treatments.
The company produces measurable medical-grade cannabis, cannabis concentrates, and cannabinoid therapies through using various technologies in plant biology, cultivation, and extraction techniques combined with biotechnology.
It is involved in the development of controlled-climate indoor agricultural technology growing and cultivation suites, including TissueBLOX, GrowBLOX, CureBLOX, and ExtractionLAB.
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Traders will note 105% piled on for shareholders of the stock during the past month. We have certainly seen more dramatic moves in this space. However, Growblox Sciences shares have also seen a massive influx of increasing trading attention since the patent announcement, suggesting there may be more substance to this story than to some.
For the past two years, GB Sciences has been working towards the creation of novel, patentable cannabis-based formulations under the leadership of Dr. Andrea Small-Howard, Chief Science Officer of GB Sciences, Inc. “This patent application is the first in a series that were invented based on our novel approach to creating cannabis-based therapies. Unlike many other companies and researchers who try to reduce the natural complexity in the cannabis plant, we embrace it and it informs our therapeutic mixtures,” said Dr. Small-Howard. “Additionally, we test our mixtures in disease systems that include a natural diversity of human cannabis-receptors, not just CB1 and CB2 receptors, which are the only receptors studied by many leading cannabinoid researchers. Our fast and efficient screening system then evaluates the effectiveness of the cannabis-based mixtures containing dozens of individually acting agents in order to make effective therapies for different diseases. We intend to start with Parkinson’s disease because these patients are in great need of an effective therapeutic treatment. One additional benefit is that our Parkinson’s treatment does not contain substantial amounts of the psychoactive compound, delta-9 tetrahydrocannabinol.”
Growblox Sciences’ CEO, John Poss, said, “Our goal is to help the approximately one million patients in the US and ten million worldwide that are living with Parkinson’s disease through our life science research, and we anticipate being able to use the same research processes to create additional innovative therapeutic options for other underserved patient groups in the coming months. Through our current patent application, GB Sciences is poised to participate in the US biopharmaceutical market for neurological disorders, which is projected to reach $128.6 billion by 2020. While there are many regulatory hurdles in front of us, this opportunity dramatically expands the revenue potential for our company over the next five years.”
Currently trading at a market capitalization of $33.3 mln, GBLX has a decent store ($178.32k) of cash on the books, along with total assets approaching $3.6M, which compares with an appreciable load ($2.52M) of total accumulated debt. This is a troubled balance sheet situation. We covered GBLX a few weeks back and would like to add that the company has pushed back its “plants in the ground” date to January 2017 from October 1, 2016, which is not encouraging. The healing that needs to come here can only be delivered by revenue growth. Any further delays might damage this story. We will keep it front and center and update as things progress. For continuing coverage on shares of $GBLX stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!