Cannabis Science Inc (OTCMKTS:CBIS) has been at the forefront of the pot stock phenomenon trading massive volume and rising to incredible highs. Currently trading just over $0.05 support CBIS exploded in the beginning of this year from $0.03 to $0.30 and crashed after the CANN halt took down an entire sector.
With Marijuana being legalized in Alaska, Oregon and Washington DC (already legal in Colorado and Washington) the entire sector is heating up again and pot stocks are once again on close watch.
CBIS was incorporated in Colorado in 2005 as Brighton Oil & Gas, Inc focused on oil and gas exploration and production and mineral lease purchasing. The Company also traded as National Healthcare Technology, Inc. before becoming Cannabis Science Inc.
Cannabis Science Inc (OTCMKTS:CBIS)takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate.
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The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment of illnesses caused by infections as well as for age-related disease. Our initial focus is on skin cancers, neurological conditions, and licensing of Company knowhow to partners worldwide.
Historically CBIS operated business in a variety of industries under multiple aliases, “Patriot Holdings” in 1996, “National Healthcare Technology, Inc.” in 1999, “Special Stone Surfaces” in 2005, “Brighton Oil & Gas” in 2007, and “Gulf Onshore, Inc.” in 2008. These scattered and unsuccessful business ventures ranged from biotechnological R&D, oil and gas exploration, mineral leasing and significant M&A activities.
Since May 2009 after the Company changed their name to Cannabis Science Inc the Company has been focused on among many other projects in the Cannabis sector:
First, 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.”
Second, 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 Phytocannabinoid-based therapeutics for drug resistant HIV infection.”
On September 29 CBIS announced they have signed a Drug Development and Laboratory Services Agreement with ImmunoClin Corporation (IMCL); Collaboration to Advance Clinical Studies and Formulations of the Company’s Proprietary Cannabinoid Based Products
Cannabis Science anticipates that ImmunoClin will commence cannabinoid-based drug formulation at its laboratories within the coming weeks, including advanced development of Cannabis Science’s proprietary neurological drug, tentatively designated as “CS-Neuro-1”. This contract complements the Company’s agricultural and research programs in Spain, Italy and other European countries.
Conclusion: CBIS continues to be THE POT STOCK to watch when the industry heats up; earlier this year the stock ran from $0.03 to $0.30 before collapsing after the CANN halt with the rest of the sector. As we came into November it heated up again and exploded off its $0.5 base to highs of $0.10 per share.
Now that Marijuana is legalized in Alaska, Oregon and Washington DC (already legal in Colorado and Washington) the entire industry is sure to continue to get massive publicity and which will trickle down to penny stocks such as CBIS.
Currently trading at a $55 million market valuation CBIS is trading near the bottom of its range and just over $0.05 support level and pivot point from the past. If pot stocks heat up CBIS can be counted on to explode to the upside and deserves to be at the top of investors watch lists here.
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Disclosure: we hold no position in CBIS either long or short and we have not been compensated for this article.