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Cannabis Science Inc (OTCMKTS:CBIS) Looking to Spark Renewed Enthusiasm

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Cannabis Science Inc (OTCMKTS:CBIS), as most OTC traders know all too well, is a regular at the top of the most-traded list for OTC stocks and a mainstay in the minds of those trading stocks related to MMJ or cannabis-related segments. It has been a bit of a laggard – which has been our call – but management is looking to spark renewed enthusiasm with its latest release, which focuses on the Global Health Catalyst (GHC) Summit hosted by the Dana-Farber Cancer Institute/Harvard Cancer Center (DF/HCC), where the CEO, Mr. Raymond C. Dabney, of CBIS was a keynote speaker.

According to the release, “the DF/HCC is a collaborative organization that integrates five Boston-area academic medical institutions and two Harvard schools — Beth Israel Deaconess Medical Center, Boston Children’s Hospital, Brigham and Women’s Hospital, Dana-Farber Cancer Institute, Massachusetts General Hospital, Harvard Medical School, and the Harvard T.H. Chan School of Public Health at Harvard Medical School. The summit is designed to catalyze high impact international collaborations in health care, education and research.”

Cannabis Science Inc (OTCMKTS:CBIS) has been down an interesting road over recent months. We see the company as actively striving for, and achieving a bump in legitimacy through some of its newly established relationships. But shareholders may be nearing impatience before long in expectation of a ramp toward sales growth.

The company defines itself according to the narrative of a leading-edge researcher and designer of cannabinoid solutions to health problems.

CBIS is involved in developing medicines for autism, blood pressure, cancer and cancer side effects, as well as for other illnesses comprising for general health maintenance. It also develops CS-TATI-1 for newly diagnosed and treatment-experienced patients with drug-resistant HIV strains, as well as those intolerant of available therapies; CS-S/BCC-1 to treat basal and squamous cell carcinomas; and a proprietary cannabis-based therapy for neurological conditions.

Cannabis Science Inc also has collaboration with IGXBio, Inc. to develop GenePro, a DNA-based immunotherapeutic drug.

In addition, CBIS offers an online video-based medical cannabis education system, including courses, such as medical cannabis law, medical marijuana, cooking, horticulture, and bud tending; and manufactures and distributes specialty horse and pet grooming and topical applications. It has a license agreement with Apothecary Genetics Investments LLC to produce various brand formulations for California medical cannabis market.

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As noted above, the CBIS CEO, Mr. Dabney, was keynote speaker at the Global Health Catalyst (GHC) Summit.  CBIS’ Chief Medical Officer, Dr. Allen Herman, also gave a presentation.

“We were pleased to share our vision with an impressive array of senior health care professionals from the USA and across the world including Africa and the broad African Diaspora. We were particularly pleased with our successful meetings with the Ministers of Health of Namibia, Rwanda, and Kisumu County in Kenya. These African health leaders will help CBIS to define our strategy on the African continent. We are launching an aggressive research program with Dana Farber, and we expect a number of major developments in 2017,” said Dr. Herman.

Mr. Dabney stated, “Our participation in the GHC Summit and this speaking opportunity gave us an opportunity to discuss cutting-edge cannabinoid research with some of the greatest minds in modern medicine globally, as well as to network and explore potential partnerships.” In addition, CBIS’ participation in this Summit provided the company with an opportunity to update stakeholders regarding the progress of the implementation of CBIS’ research agreement with Dana-Farber. “I believe the CBIS/Dana Farber relationship is off to a very good start, and I am excited about the potential of our collaboration. I am even more excited about the groundbreaking initiative with Dana-Farber that we plan to jointly announce in the next few days. This upcoming announcement will change the narrative of how we approach the research, development, and clinical trials of cannabinoid-based medicines globally.”

While this type of news offers the company a chance for strong word association (“CBIS” and “Harvard”, etc), it implies very little about the process by which the company might eventually start logging sales of any scale. The company boasts a market cap value of $151.2M. They have been gearing up to do business for a very long time. As we have noted in the past, while they have gained in credibility from a year ago, generating real enthusiasm at times of late, that enthusiasm simply must start being backed up by at least a definite communicable process of expected revenue generation or shareholders will start to see the negative aspect of “former” enthusiasm.

CBIS reportedly has a reserve ($333K) of cash on the books, which stands against about $2M in total current liabilities. CBIS has posted negligible revenues in the past. The balance sheet looms now given the company’s history of shareholder dilution over the years. We are curious to see how this story evolves from here. There is a lot of potential, but we’re ready to start seeing some actualization. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $CBIS 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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