Cannabics Pharmaceuticals Inc (OTCMKTS: CNBX) saw a recent pop in September to over $1.25 but has come down significantly since than. The stock has a long history of big moves making a spectacular run in early 2017.
Cannabis is booming; according to a recent report from Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe and spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%. The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. Of course much of this hinges on how laws progress
Cannabics Pharmaceuticals Inc (OTCMKTS: CNBX) bills itself as a U.S public company that has developed a platform which leverages novel drug-screening tools and artificial intelligence to develop cannabinoid-based therapies for cancer that are more precise to a patient’s genetic profile. By developing tools to assess effectiveness on a personalized basis, Cannabics is helping to move cannabinoids into the future of cancer therapy. The company’s R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and Cancer. Cannabics is focusing on natural cannabinoids and its R&D open its doors for collaboration in the discovery of new anticancer compounds.
The Company owns several valuable patents and announced last month it has been granted its patent for its core technology by the Israeli Patent Office. This patent encompasses the systems and methods required to produce data on the interaction between different cannabinoids and cancer cells. This technology enables screening the effects of a multitude of compounds derived from the cannabis plant on cancer cell lines and biopsies. This technology will facilitate the development of more accurate cannabinoid compounds designated for specific cancers and specific genetic profile of patients, at the same time serving as supportive data for cannabinoid-based treatments.
Last year Cannabics opened a genetics lab. This Tel Aviv cannabis research laboratory will focus on developing diagnostic tools based on the human genome, tumor genetics, and cannabinoids.
Cannabics has been immersed in pharmaceutical R&D through their subsidiary Grin Ultra, a licensed Israeli company since 2014. Since that year the Israeli Ministry of Health has granted them the go-ahead for cannabinoid based research. Their research is based on developing cannabinoid medicine specifically for cancer patients. Currently, they administer cannabis in pill form to cancer patients as a treatment for their lack of appetite in one ongoing clinical study. In the wings are two more studies mean to help ease the devastating symptoms of cancer treatment.
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CNBX is broadly licensed by the Ministry of Health in Israel specifically for R&D on Cannabis. We see great potential in scientific collaborations with like-minded companies that are engaged in cannabinoid medicines and diagnostics. Currently, we are in the final stages of finalizing our agreement with a company engaged in ophthalmic disorders to develop a product to compete with Steroids in the ocular disease market. CNBX team of scientists are diligently working to develop and expand our intellectual property portfolio. As such we are waiting for numerous approvals from various national level registrations on our Cannabinoid – Cancer screening patents.
Earlier this month CNBX said it has been granted its patent for its core technology by the Israeli Patent Office. This patent encompasses the systems and methods required to produce data on the interaction between different cannabinoids and cancer cells. This technology enables screening the effects of a multitude of compounds derived from the cannabis plant on cancer cell lines and biopsies. This technology will facilitate the development of more accurate cannabinoid compounds designated for specific cancers and specific genetic profile of patients, at the same time serving as supportive data for cannabinoid-based treatments.
On October 16 CNBX announced the results of its pilot study to test the efficacy of Cannabics capsules for the treatment of cancer anorexia-cachexia syndrome (CACS) in advanced cancer patients.
Held at Rambam Hospital in Israel, the study is aimed at evaluating the effect of dosage-controlled cannabis capsules on CACS, and more specifically, on weight variations in advanced cancer patients. Preliminary findings showed that all patients who were involved in the study for the first four and a half months reported an increase in appetite, as well as 83 percent of all those that completed the study. Results also demonstrated a weight increase of over 10 percent for 60 percent of the patients who completed the study. The remaining patients had a stable weight. 50 percent of the patients who completed the study reported pain reduction and sleep improvement.
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Currently trading at a $85 million market valuation CNBX has $2.2 million in the treasury, very little debt and tiny revenues so far. CNBX is an exciting story developing in small caps; focused on being the leader in personalized cannabinoid medicine focused on cancer and its side effects, with a team of scientists diligently working to develop and expand their intellectual property portfolio. CNBX stock has a long history of big moves and has been largely ignored in recent months as the rest of the cannabis sector has been booming! Investors in CNBX are betting this is about to change. We will be updating on CNBX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CNBX.
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Disclosure: we hold no position in CNBX either long or short and we have not been compensated for this article.