Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) is making all the right moves. In spite of the fall in its value, its management has continued to have a plan for its development.
In this piece, we give you details on the company, its most recent announcements and what to expect going forward.
Take a look at its price action over the last year:
Cannabics Pharmaceuticals, Inc. was founded by Eyal Barad, Eyal Ballan, and Itamar Borochov in September 2004 and its head office is located in Bethesda, Maryland. The firm specializes in the research, accreditation, marketing, and development of cannabinoid-related remedies and engages in the development biotechnological tools and therapies for relieving patients of various illnesses that react to components of the cannabis plant.
Its leading merchandise is a long working pharmaceutical cannabis pill that shows beneficial effects as a painkilling care therapy for cancer patients. The firm was previously known to be American Mining Corporation before its name change in May 2014 to Cannabics Pharmaceuticals Inc.
Right from April 2014, Cannabics Pharmaceuticals Inc. has operated as a subsidiary of Cannabics Inc.
To get more information on the company, take a look at our previous post here.
In February 2018, the firm announced the engagement of Yasha Borstein as its new Chief Data Officer.
Yasha Borstein has broad experience encompassing machine learning, big data analytics, software development, Artificial Intelligence as well as software development and some experience in enterprise risk management as well. Some of the responsibilities covered in the job designation include the implementation and design of a data governance policy for the company.
At the firm’s Research & Development base located in Israel, it has begun carrying out a scientific study on the proper cannabinoid formulations required to deliver groundbreaking diagnostic techniques that may be used in screening cancer. Using innovative detection systems and customized bioinformatics equipment, the biotech company is engaged in providing relevant information upon which can aid doctors and cancer patients in making informed decisions on the treatments to take and their likely side effects.
Yarsha Borstein outlined that his aim would be to maximize the value of the highly sensitive data produced by Cannabics and to ensure that the highest guidelines of data governance and regulatory health compliance are complied with. The appointment provides a good chance to support the development of a new methodology to cancer Theranostics.
Chief Executive Officer, Eyal Barad explained management’s delight in adding Yasha as part of the team as it is a move that supports its business strategy of utilizing the newest technological development to carry out research and gather relevant information that expands its knowledge and broadens the firm’s IP portfolio. Management fully believes that the firm has engaged the highest caliber of scientists to investigate the usage of bioinformatic tools in supporting the use personalized cannabinoid-related treatments while helping to fight one of the major causes of illnesses and death in this period.
The firm plans to move all of its Research & Development operations into a personalized, modernized Theranostics lab located in Rehovot, Israel. Dr. Moran Grinberg, the Vice President of R&D currently oversees the development of this facility, which is primed to be open in the coming months.
Soon after, the firm announced that it had filed an international patent application with the PCT authorities on some approached for carrying out the testing processes for which cannabinoids or combinations of cannabinoids are more probable to have an effect on each patient.
The ascertainment was done through the testing of the effects of cannabinoids on Circulating Tumor Cells as well as biopsies of cancer patients. This unified approach takes together CTC counting, Genetic markers, cannabinoids research as well as detection approached and a drug sensitivity test to be carried out for cannabinoids designed by Cannabics Pharmaceuticals. This unusual method extends the firm’s exclusive technology of creating a more precise tool for personalizing cannabinoids based drugs just as well as hastening drug discovery.
In 2017, revenue amounted to $5000, a major drop of 96% from $0.11 million the previous year. With its new systems, expected to increase the influx of patients, it is likely that the firm will grow its revenue inflow in the future.
In the same period, cost of sales remained as nil as most of the firm’s common expenses are from research and development and SGA expenses. However, R&D expenses grew by 39% and SGA by a massive 650%
Gross margin for the financial year was $5,000 just as profit since there were no COGS in the year. The net loss from operations amounted to $1.85 million while the total net loss for the period is $1.93 million.
The statement of financial position reveals that the firm is not very highly geared. On its books, its total debt is worth just $0.7 million, resulting in a low debt-to-equity ratio of 0.73. it also has a low liquidity ratio of 5.03.
CNBX is doing everything right to raise its value. It is only likely that its price will keep going up if it continues on this path
Disclosure: We have no position in CNBX and have not been compensated for this article.