Cannabis Science Inc (OTCMKTS:CBIS) is not backing down from its battle against cancer.
Never mind its falling share price and dwindling revenues, the firm has continued to expand its network and research in a bid to ensure that victims of cancer and other terminal sicknesses can be treated using effective cannabinoid medical solutions. With the level of research and commitment to results, there remains a possibility that groundbreaking solutions are on the way. It may be only a matter of time before this starts.
This is the stock’s price movement over the last year:
Cannabis Science, Inc. was incorporated in February 1996 by Raymond C. Dabney. Its head office is situated in Irvine, California. The firm engages in the development of cannabis pharmaceutical products and works on phytocannabinoid science which targets serious illnesses and complies with scientific approaches to design, produce, and sell phytocannabinoid-based medical products to the general public.
Based on the firm’s unique understanding of biological processes to provide new methods of treatment for some illnesses which are not well understood in the medical field. For more information on the company, check out our previous post here.
Very recently, the firm announced that it had gone into an expanded five year, $1.8 million Research Collaboration Agreement with the Dana Farber Cancer Institute, Inc., covering operational processes and associated communication undertakings. The work was set to focus on fundamentally similar medical objectives with extended work factors which depend on current laboratory success.
The firm’s present lab research is simply a part of a major drug development growth pipeline which is targeted at life-threatening sicknesses from laboratory research to scientific publication that Cannabis Science is developing with its research partners. This strongly demonstrates Cannabis Science’s strong dedication to front-line cannabinoid science in its medical development programs. The purpose of this pipeline to simply to make sure that Cannabis Science’s research work gets to the scientific community and the patients as quickly as possible.
Chief Medical Officer of CBIS, Dr. Allen A. Herman outlined that presently the firm’s funded research is focused on the medical use of cannabinoids in treating cancer as well as pain management, but the intent over the longer term is to increase the firm’s portfolio in a number of significant directions.
This includes: an investigation of the level of effectiveness of cannabinoid treatment in a growing collection of cancers, especially those that are quite difficult to treat or that have high mortality rates, the development of new targeted delivery practices in the use of cannabinoids, and using recent enhancements in computer science, bioinformatics and pharmacology to research the mechanisms of how cannabinoids work in managing the of disease.
The relationship between both firms will take advantage of the collective expertise of both organizations to partner in the development of cannabinoid-based medications and associated delivery technologies for the treatment of cancers, and potentially other indications.
Sometime earlier, the firm had announced that its research team would be expanding the scope of its cancer research to include Leukemia.
With twenty-nine states now having medical marijuana laws and possible six others in the coming year, Cannabis Science intends to continue its research and prepare to make medication available utilizing a preferred delivery method to treat those suffering from Leukemia and potentially other cancers.
The announcement came out not long after CBIS had published initial research results on the use of nanoparticle drones to target lung cancer using radiosensitizers and cannabinoids.
The firm’s priority has remained the identification of peculiar methods using cannabinoids in treating a wide range of cancers as well as other critical ailments. There exists increasing evidence that also proves the effectiveness of cannabinoids in the treatment of cancer.
The firm’s results portray that it is still in the growth phase of its lifecycle. Over last five years, Cannabis science has generated $0.17 million in revenues in total with $9200 coming in 2016, a drop of 377% from the previous year.
The company continues to rack up high operating expenses, with $13.44 million going into selling, general and administrative expenses and $0.8 million in 2015.
The firm ended the year with a net loss of $10.2 million, down from the previous year’s loss of $18.6 million.
The balance sheet shows very high leverage, with its total liabilities twice the size of its assets. To pay off its liabilities, it is likely the firm will need to raise fresh funds or boost its incomes.
CBIS has positioned itself to become a leader in the Cannabinoid pharmaceutical market. However, it remains to be seen if it can translate this into improved financial performance.
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Disclosure: We have no position in CBIS and have not been compensated for this article.