Cannabis Science Inc (OTCMKTS:CBIS) has been on a steady rise in recent months since trading as low as $0.026 last summer. The stock recently hit a high of $0.1397 before a significant shakedown but is now coming back stong. CBIS saw a spectacular move in the last months of 2016 topping out in Jaunuary of this year.
CBIS operates in the booming MJ sector that continues to grow; according to Forbes North American marijuana sales grew by an unprecedented 30% in 2016 to $6.7 billion as the legal market expands in the U.S. and Canada, according to a new report by Arcview Market Research. North American sales are projected to top $20.2 billion by 2021 assuming a compound annual growth rate of 25%. The report includes Canada for the first time as it moves towards implementing legal adult use marijuana.
Cannabis Science Inc (OTCMKTS:CBIS) works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness.
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.
Several years ago CBIS made a number of acquisitions in the cannabis sector that currently drive future growth. CBIS 2 most important drugs in development are:
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.”
The drug CS-TATI-1 aims to target patients with drug-resistant HIV strains. The earliest article I could find relating to the launch of this program was in June 5, 2012, where the company loosely described a mission to “explore the commercial development of Phyto cannabinoid-based therapeutics for drug resistant HIV infection.”
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Back in March CBIS commented on the recent success of GW Pharmaceuticals in their phase three testing of a CBD-based product designed to treat patients with a rare form of epilepsy.
The successful trials in Europe help pave the way for companies like Cannabis Science to move forward with their own testing in Europe and in the United States. It will also allow for a quicker regulatory process due to more research being made available for regulators and more experience with these types of treatments.
CBIS is working diligently to continue testing and providing limited rollouts for its own CBD-based treatment products in California at the moment. On the heels of GW Pharmaceuticals’ success, the company is more confident than ever in its planned wide-scale rollout, which will include a wider array of near term clinical drug development programs in California, possibly Washington, and the Netherlands.
Earlier this month CBIS announced the publication of initial research results on using nanoparticle drones to target lung cancer with radiosensitizers and cannabinoids in the world-renowned cancer research journal Frontiers in Oncology.
On January 8 CBIS announced the Company is preparing for the Grand Opening of its first two Pre ICO Pharmacies in California. These pharmacies will be managed through the use of a Pharmacy Automation and Inventory Tracking System.
“Cannabis Science’s Pharmacies are in prime, high traffic areas on Pico Boulevard in Los Angeles and on Ventura Boulevard in the San Fernando Valley. The Company has also been presented with an opportunity to purchase a potentially 60,000 sq. ft. building in Los Angeles, CA. This is where the Company can build its first Cannabis Science Medical Center, including full laboratory facilities, patient intake, and doctor and nurse clinics. We will look at the possible use of the Company’s rare U.S. Federal Government Cage Code Clearance to provide U.S. Federal Government approved Emergency Medical Services,” stated Mr. Raymond C. Dabney, Cannabis Science’s President, CEO, and Co-founder.
“It is possible we will include our sister Company, Crown Baus Capital Corp CBCA, +12.14% in this purchase. Additional space will be leased to physician groups and other medical cannabinoid related health services and well-being providers. I am particularly excited about the Cannabis Science Medical Center, this was always one of our main goals,” stated Mr. Dabney. “This facility will serve as a hub for our activities. Not only will physicians be able to consult directly with patients at the Center, but the Company will also be able to coordinate and expand its global reach and research on cannabinoid-based drugs related to development initiatives through the Cannabis Science Global Research Consortiu
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Currently running up the charts CBIS has little assets or revenues and rising short term debt that has resulted in dilution over the years. But CBIS is an exciting story developing in small caps; the Company is specializing in the development of cannabis-based medicines and has a number of new exciting initiatives in the booming pot sector. CBIS is one of the original pot stocks with a long history of making spectacular moves that knows how to get its story into the national media. CBIS is a great place to be when pot stocks heat up. We will be updating on CBIS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CBIS.
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Disclosure: we hold no position in CBIS either long or short and we have not been compensated for this article.