Cannabis Science Inc (OTCMKTS:CBIS) is one of the original Marijuana plays to hit the BB’s back in 2009. Over the past several years as Marijuana stocks have heated up CBIS has been at the forefront of this incredible phenomenon trading massive volume and rising to incredible highs the stock continues to be synonyms with Cannabis Penny stocks on the OTCBB.
When pot stocks get hot CBIS is the perfect vehicle; reasons for another sector surge include Canada’s new prime minister promising legalization immediately, DEA being told by California judge to stop interfering with dispensaries, billionaire Richard Branson suggesting a decriminalization amendment in the U.N. 6,000 non-violent drug offenders released Nov 1st, Australia lifting ban on medical mj, New York opening medical mj dispensaries January, Colorado revenues skyrocketing and more.
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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Looking at CBIS and all its vast and varied operating divisions, one might think they are a revenue generating power house but you would be very wrong; in fact CBIS has very limited operations, with minimal revenues to date and the Company continues to burn cash every quarter. This unfortunate situation has led to continued massive dilution with CBIS share count more than tripling over the past 3 years.
On November 2 CBIS announced a significant collaborative drug development deal with IGXBio Inc., and its GenePro(R), a DNA-based immunotherapeutic that recently received FDA IND approval to enter into human trials. The companies will develop joint protocols that explore potential synergistic effects of their respective drug candidates, as well as potential new drug candidate opportunities.
IGXBio has a drug called GenePro(R), which is already registered with the FDA and has an IND number. This expedites the process to seek FDA approval in the future. GenePro(R) is designed to promote an anti-HIV immune response that facilitates virus control in HIV-infected subjects.
CBIS CEO Raymond C. Dabney said “After recent discussions with Mr. Jim Laufenberg, President of IGXbio Inc., and Dr. Allen Herman, Chief Medical Officer, Cannabis Science Inc., we have decided it’s time to accelerate our collaborative drug development program.”
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Currently trading at a $25 million market valuation 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 recently announced a $15-25 Million Capital Raise for FDA and Other Clinical Drug Development Programs as Well as a Proposed NASDAQ Up Listing (that will never happen) But CBIS is one of the original pot stocks with a long history of making spectacular 2000% plus moves that knows how to get its story into the national media. 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.