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Thursday, October 22, 2020

Medical Marijuana Inc (OTCMKTS:MJNA) Navigates a Parabolic Climb

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Medical Marijuana Inc (OTCMKTS:MJNA) has been a member of the Cannabis All-Star Stocks team during the recent 2-month “marijuana stocks mania” we have been witnessing. One reason this stock has been a real high-octane favorite in the group is because it has strong exposure to a portfolio holding (AXIM Biotech) that just recently received funding on solid terms with a strong built-in opportunity for ROI on that capital. Hence, not only does MJNA pop on MJNA news and speculation, but it also gets a little boost (or a big boost) on AXIM catalysts.

As a result, this has been one of the most dramatic outperformers in what has clearly been the hottest group in the market. In all, we’ve witnessed just shy of 170% during the past month in terms of shareholder gains in the name. The situation may continue to be worth watching: MJNA is a stock with a past littered with sudden rips. Moreover, the name has witnessed a pop in interest, as transaction volume levels have recently pushed a bit less than 520% beyond what we have been seeing over the larger time frame.

Medical Marijuana Inc (OTCMKTS:MJNA) trumpets itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.

The company licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.

In addition, the company provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.

Medical Marijuana, Inc. was formerly known as Hemp Deposit Distribution Corp. and changed its name to Medical Marijuana, Inc. in March 2011. The company was incorporated in 2003 and is headquartered in Poway, California.

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The most recent catalyst for MJNA, on an individual company level, is its holding, AXIM, which published a product pipeline chart on its website that highlights the timelines from pre-clinical to a new drug application (NDA) for its numerous intellectual property-protected cannabinoid-based products.

The Company’s product pipeline chart shows what stage of clinical trials each drug of AXIM® Biotech is in, the indication the drug is intended to treat and the expected date to receive an NDA from the U.S. Food and Drug Administration (FDA) and/ or European Medicines Agency (EMA). The chart also shows the anticipated market introduction date of the Company’s various functional food and nutraceutical products.

“We commend AXIM for publishing a product pipeline chart on its website as it provides potential patients and investors with critical Company information about the numerous cannabinoid-based therapeutic products that AXIM currently has undergoing clinical trials and when those products are anticipated to be on the market and approved by the FDA and EMA,” said Medical Marijuana, Inc. Chief Executive Officer Dr. Stuart Titus. “It’s exciting to see the actual timelines for these cannabinoid-based innovations currently in development, as we’re confident that once on the market these novel therapeutics will provide consumers with a wide variety of new options worldwide.”

In addition, AXIM also just announced that it has begun pharmacokinetic/pharmacodynamics (PK/PD) studies with its CanChew Plus Gum, the first CBD hemp oil chewing gum, to ascertain the potential for a reduction of irritable bowel syndrome (IBS) symptoms in patients.

At this time, carrying a capital value in the market of $470.7M, MJNA has a decent store ($266.17k) of cash on the books, with total assets exceeding $210M, which must be weighed relative to an appreciable load ($13.67M) of total accumulated debt. That is a very problematic balance sheet, if seen in a void, or if the legislative picture begins to come up snake-eyes for the sector.

However, if the votes go according to current market expectations, then one has to realize this is a company coming from over $9.22M in revenues on a trailing 12-month basis, and would clearly be on an accelerating growth curve in that case. That context colors the balance sheet in a benign light at this point. We will certainly return to this exciting story very soon. For continuing coverage on shares of $MJNA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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