Medical Marijuana Inc (OTCMKTS:MJNA) is a penny stock that continues to draw constant top-level interest among OTC traders. MJNA stock has been moving in lock-step with other heavily traded stocks in the cannabis space, suggesting the role of managed money and some form of indexed exposure. Lately, that has been a bearish influence, particularly in reaction to comments from the White House on Friday. That said, the company has a number of recent catalysts, with the latest one being its announcement that the Brazilian government has authorized a doctor’s prescription for the Company’s hemp cannabidiol (CBD) oil product Real Scientific Hemp Oil (RSHO) to treat patients in the country suffering from Multiple Sclerosis.
According to the release, this marks the first time that Brazil’s National Health Surveillance Agency ANVISA has granted the filling of a prescription for RSHO to specifically help patients combat the effects of Multiple Sclerosis. “Per the Multiple Sclerosis International Federation (MSIF), more than 2.5million people worldwide are affected by MS, a progressive disease of the central nervous system, for which there is currently no cure. In Brazil, MS prevalence is estimated to range from 1.36-20 per 100,000 inhabitants.”
Medical Marijuana Inc (OTCMKTS:MJNA) trumpets itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.
The company licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.
In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.
Medical Marijuana Inc. is the first publicly held company vested in the medical marijuana and industrial hemp markets.
According to company materials, “The company is comprised of a diversified portfolio of products, services, technology and businesses solely focused on the cannabis and hemp industries. These products range from patented and proprietary based cannabinoid products, to seed and stalk or isolated high value extracts specifically manufactured and formulated for the pharmaceutical, nutraceutical and cosmeceutical industries. The Company’s services are extensive and varied, ranging from medical clinic management to the capitalization and development of existing industry business and product leaders. Services include development of cannabinoid based health and wellness products, and the development of medical grade compounds. MJNA provides over 85 proprietary and patented cannabinoid delivery methods that are more socially and medically acceptable than typical industry methods. Finally, MJNA services include the licensing of its proprietary testing, genetics, labeling, and packaging, tracking, production and standardization methods for the medicinal herb industry.”
Medical Marijuana, Inc. was formerly known as Hemp Deposit Distribution Corp. and changed its name to Medical Marijuana, Inc. in March 2011. The company was incorporated in 2003 and is headquartered in Poway, California.
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As noted above, the company recently announced that the Brazilian government authorized a doctor’s prescription for the Company’s hemp cannabidiol (CBD) oil product Real Scientific Hemp Oil (RSHO) to treat patients in the country suffering from Multiple Sclerosis. That’s a potentially major step in terms of validation in its Brazilian effort.
“We commend the Brazilian government for recognizing nationwide health problems that exist, including Multiple Sclerosis and a multitude of other chronic medical conditions, and looking for solutions that can help alleviate those problems,” said Medical Marijuana, Inc. CEO, Dr. Stuart Titus. “Brazil has embraced the therapeutic value of medical cannabinoids and is helping its people treat the symptoms of certain conditions with no known cure or limited treatment options.”
“Research findings suggest that cannabis could slow the neurodegenerative process of MS and help patients manage the symptoms associated with their disease,” added Dr. Titus. “For instance, one study showed cannabinoids demonstrated neuroprotective effects during an animal model of MS, reducing the damage to myelin caused from inflammation, while in another study MS patients saw significant improvements in muscle spasticity and reduced sleep disturbances after four weeks of cannabis treatments.”
Currently trading at a market capitalization of $306.2M, Medical Marijuana Inc has a reserve ($406K) of cash on the books, which must be weighed relative to about $3.9M in total current liabilities. One should also note that debt has been growing over recent quarters. MJNA is pulling in trailing 12-month revenues of $7M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 18.6%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $MJNA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!