Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) stock has been consolidating in a descending triangle since pulling back in the wake of its enormous mid-February spike higher. The company has been an exciting story in the space, with reports of a diagnostics technology supposedly positioned to revolutionize the way physicians identify disease in cancer patients in terms of a coordinated cannabinoids therapy program.
The latest news out of the name is this week’s appointments of several highly-respected professionals to its Board of Advisors. According to the company’s release, the new Advisors are Dr. Gil Feiler, Dr. Martin Burow, Dr.Tal Mofkadi, Prof. Amos Toren and Dr. Sigalit Ariely-Portnoy. “We are honored to have the newly appointed members on our team, sharing the research on the therapeutic values of cannabinoids,” said Dr. Eyal Ballan, CTO of Cannabics Pharmaceuticals.
Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) bills itself as a U.S based public company dedicated to the development of Personalized Anti-Cancer and Palliative treatments.
The Company’s R&D is based in Israel, where it is licensed by the Ministry of Health for its work in both scientific and academic research as well as current clinical studies underway at Rambam Hospital.
The Company’s focus is on harnessing the therapeutic properties of natural Cannabinoid formulations and diagnostics. Cannabics’ vision is to create individually tailored natural therapies for cancer patients, utilizing advanced screening systems and personalized bioinformatics tools
Its flagship product is Cannabics SR, a long-acting medical cannabis capsule that shows therapeutic effects as a palliative care therapy for cancer patients.
The Company’s scientific focus is on identifying and harnessing the therapeutic properties of specific natural Cannabinoids. Cannabics’ vision is to create individually tailored therapies for cancer patients, utilizing advanced screening systems and personalized bioinformatics tools.
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There are some very accomplished names coming onto the board of advisors for the company. Perhaps the one that most stands out to us off the bat is Dr. Sigalit Ariely-Portnoy, Strategic Regulatory Advisor, Clinical, Quality and Validation.
Dr. Sigalit Ariely-Portnoy managed pharmaceutical and chemical plants at Taro pharmaceutical industries Ltd as Operation Group Vice President and in Teva Pharmaceutical Industries Ltd as OSD plant manager.
In the last 7 years, Sigalit has been the CEO of the largest consulting company for pharmaceutical and medical device companies in Israel. In other words, he is an expert at helping biopharma strategies pass muster with regulators.
In our experience, companies at this stage in the process of developing a biopharma strategy can never get too much quality Advisory Board help when it comes to strategic consultation on regulators. A poorly shaped tact on that front can result in massive unnecessary costs and delays. And, in this case, those both add up the same thing.
Itamar Borochov, CEO of Cannabics Pharmaceuticals said, “The combination of scientific, financial and regulatory knowledge in our board gives us the tools to make well educated decisions as we continue to evolve further in making our vision relevant and accessible to cancer patients worldwide.”
The chart shows in excess of 120% added to share values of the name over the past month of action. In addition, the name has benefitted from a jump in recent trading volume to the tune of a bit over 360% beyond its prior sustained average level. It pays to take note of this fact given the stock’s relatively small trading float of barely over 25M shares. It’s something the veterans know to key on: a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed.
CNBX has a fair balance sheet a bankroll ($278K) of cash on the books, which compares with about a half million in total current liabilities. The company is pulling in trailing 12-month revenues of $113K. That said, last quarter did not include revenues. The stock is holding up on a shelf following the recent pullback. It will be interesting to see if a clear accumulation bid of depth is chasing up under the action in coming days. For continuing coverage on shares of CNBX stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!