Cannabis Science Inc (OTCMKTS:CBIS) is slightly down again this week. The truth is CBIS is really having a down year. CBIS is down 50% for the year and represents another stock in the cannabis sector that has not recovered since the election cycle. But is there hope?
Adding insult to injury, a strong sell-off has engulfed the stock in recent months. The company continues to underperform the overall industry even as reports indicate that the legal cannabis business is set to grow by 22% this year. The stock’s underperformance over the last eight months is a point of concern given that other stocks in the space have recorded impressive gains.
Cannabis Science Inc (OTCMKTS:CBIS) 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.
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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The American States University is one of the cannabinoid drug development partners that CBIS is working with to come up with therapies for various illness. The company has also had successful laboratory work using Nanoparticle Drones to target Lung Cancer. Cannabis Sciences recently created a publication detailing the effect of cannabinoids with and without radiation therapy on lung and pancreatic cancer
“This work will form part of our applications to the FDA. As we continue this work we will expand our pharmaceutical development program from farm to the bedside,” said Allen A. Herman, MD, Ph.D. Cannabis Science Inc., Chief Medical Officer (CMO).
Currently holding at a market capitalization of $83.33M, CBIS is down and might not be done with the bears just yet. The stock is in one of the best sectors to be in for rebound and the stock has been known to rip off a solid run, but investors really should wait to see them string together back-to-back days before getting in here. Sign-up for continuing coverage on shares of $CBIS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $CBIS, either long or short, and we have not been compensated for this article.