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Tuesday, January 26, 2021

Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) May Have Found Its Footing

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Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) is a penny play in the cannabis space that started 2017 as the hottest thing on the block. In February alone, the stock went from well under a dollar per share to nearly $8 in a matter of weeks. June was the stock’s first strong month since February, and recent action was clearly helped along by an announcement out of company that it received positive results from screening necrosis (cell death) of circulating tumor cells, from cancer patients, treated with the cannabinoids CBD and CBDA.

According to the release, these results greatly strengthen the company’s previously accumulated data on cannabinoid anti-tumor activity. The name has responded by vaulting higher to test resistance at the $1/share level. However, these clinical data points may represent the long-anticipated bounce in the stock. So far, we are seeing the action stabilize and possibly start to turn higher.

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.

Cannabics 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 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.

CNBX’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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According  to the release, “the screening results which indicate varied effectiveness of the tested cannabinoids upon different tumors (colon, breast, prostate) reaffirm the use of our proprietary technology in providing supportive data for personalized treatments.”

Dr. Eyal Ballan, CTO of Cannabics Pharmaceuticals noted “The screening of CTCs treated with specific cannabinoids and CTC cell count of patients treated with cannabinoids produces an invaluable body of data in our search for effective anti-tumor treatment”.

The company continues to chase down a potential leadership position in the identification of a more refines typological system that pairs specific diseases with potential cures based in strains of marijuana. After a long, slow decline once enthusiasm for this approach seemed to moderate, it would appear there are still those excited about the potential here.

The news has clearly had an impact on the tape. Recent action has seen 5% added to share values of the stock over the past month of action, but this action is running counter to the larger trend in the name. However, CNBX is a stock who’s past is littered with sudden rips. In addition, the company has registered increased average transaction volume recently, with the past month seeing 0% over what the stock has registered over the longer term.

Traders should note this as important with the stock trading on a float that is tight at just 21.9M shares. One is wise to respect the dynamic this may create — a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed.

Now commanding a market cap of $116.3M, Cannabics Pharmaceuticals Inc has a chunk ($567K) of cash on the books, which compares with virtually no total current liabilities. CNBX is pulling in trailing 12-month revenues of $101K. However, the company is seeing sharp declines on the top line on a quarterly y/y basis, with revenues falling at -90.1%. We will update the story again soon as developments transpire. For continuing coverage on shares of $CNBX stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!

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