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Tuesday, January 26, 2021

Our Take on Cannabis Science Inc (OTCMKTS:CBIS)

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Cannabis Science Inc (OTCMKTS:CBIS) is in the grips of a steady and difficult correction that has lasted the better part of the past 8 months. We have maintained a bearish overall view of this one following the election day, when 8 of 9 states moved to increase the legality of pot in their jurisdictions. Our view was driven by the company’s long and well-established history of extreme dilutive activity and basically no sales, despite being a publicly traded stock for over two decades.

The stock’s latest catalyst is its announcement that the initial test batches of Transdermal Patches and Unisex Suppository Regimen packages are now available in two test dispensaries in Los Angeles, California meeting the growing demand for alternative pain medications delivery modules amongst self-medicating patients struggling with several forms of chronic pain management, which the Company firmly believes will directly combat the opioid medication overdose pandemic.

Cannabis Science Inc (OTCMKTS:CBIS) is a company that has been actively striving for, and achieving a bump in legitimacy through some of its newly established relationships. However, the concept of sales still seems far off, which is a bit remarkable.

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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According to the company’s latest release, the CBIS Transdermal Patch has been commonly requested by self-medicating patients for almost all different types of chronic pain including fibromyalgia, diabetic nerve pain, neuropathic and many other forms of critical ailments that are associated with chronic pain. “One of the advantages is the targeting effect as cannabinoids enter the bloodstream at the affected area through absorption of the skin and formulations are administered when cannabinoids penetrate the central nervous system, providing the self-medicating patient the desired relief.”

As we understand it, the CBIS Unisex Suppository Regimen Package is “ideal for patients who suffer from cancer treatment side effects like nausea, vomiting, insomnia, anxiety, and severe pain. It also acts as an effective substitute delivery system for patients who may have difficulty ingesting pills or smoking cannabis as rectal absorption produces a higher bioavailability while producing a more consistent effect. The suppositories are the first of three regimen packages that Cannabis Science will release for patients who require alternate delivery methods.”

The stock has been sliding down onto the nickel level as possible support. Last week ended with a breach of support that could introduce additional downside. As we have noted in the past, the company has been very bold in its boasts of new lines of potential sales, and yet the sales never seem to appear. We will be quick to get behind this one if we see signs those ways have changed. But, alas, we haven’t gotten there yet.

Earning a current market cap value of $121.7M, CBIS has a reported store ($333K) of cash on the books, which compares with about $2M in total current liabilities. CBIS is pulling in trailing 12-month revenues of $9K. However, even those tiny sales numbers are disintegrating, which should certainly give market participants pause when evaluating the prospects of this stock. Nonetheless, this may yet be a very interesting story and we will look forward to updating it again soon. For continuing coverage on shares of $CBIS stock, as well as our other breakout picks, sign up for our free newsletter today and get our next hot stock pick!

Disclosure: we hold no position in $CBIS, either long or short, and we have not been compensated for this article.

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