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CV Sciences Inc (OTCMKTS:CVSI) Looks to Head to the Big Leagues

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In the field of big surprises on the OTC so far in 2018, CV Sciences Inc (OTCMKTS:CVSI) has to be one of the most prominent. The company was perhaps an underperformer last year. But things have been moving solidly in the right direction so far this year. That bearing is clearly underscored by the company’s most recent announcement that it has submitted its application to list the Company’s common stock in the U.S. on the Nasdaq Capital Market.

“We believe up-listing from the OTC Market to the Nasdaq Capital Market will increase corporate visibility, improve liquidity, and broaden awareness in the financial markets,” stated Joseph Dowling, Chief Executive Officer of CV Sciences. “An up-list will open the investment opportunity to a larger pool of investors and help create greater shareholder value. We have made significant progress in strengthening our financial performance and liquidity, positioning the Company for future growth and profitability. A listing on the Nasdaq Capital Market is a natural progression for the Company and our shareholders.”

CV Sciences Inc (OTCMKTS:CVSI) frames itself as a life science company, focuses on developing and commercializing novel therapeutics utilizing synthetic Cannabidiol (CBD).

CVSI operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors, including nutraceutical, beauty care, specialty foods, and vape.

Following the CanX Acquisition in December 2015, CV Sciences commenced its preclinical drug development program during the second quarter of 2016. The Company’s drug development efforts include pursuing synthetic-based Cannabidiol drug candidates in areas that have the potential to provide significant improvements in therapeutic patient treatments with sizable addressable markets.

The company was formerly known as CannaVEST Corp. and changed its name to CV Sciences, Inc. in January 2016. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California.

CV Sciences Inc is led by Michael J. Mona, JR. founder of CV Sciences, Mr. Mona possesses over 30 years of senior management experience in a range of industries including real estate/construction, industrial farming, chemical processing and consumer products. Mr. Mona is a recognized industry leader in hemp farming operations and chemical extraction and has established a global supply chain of hemp-derived products.

According to company materials, “CV Sciences, Inc. (CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California.”

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Recent action has seen 41% tacked on to share pricing for the listing in the past month. Market participants may want to pay attention to this stock. What’s more, the name has benefitted from a jump in recent trading volume to the tune of 21% over what the stock has registered over the longer term.

According to the release, “Acceptance for listing the Company’s shares is subject to approval based on several factors including satisfaction of minimum listing requirements for the Nasdaq Capital Market.  The Company intends to satisfy all of the applicable listing requirements, however, there is no assurance that its application will be approved. During the Nasdaq review process, the Company’s common stock will continue to trade in the U.S. on the OTC under its current symbol, CVSI.“

Currently trading at a market capitalization of $180.2M, CVSI has a significant war chest ($3.9M) of cash on the books, which stands against about $390K in total current liabilities. CVSI is pulling in trailing 12-month revenues of $25M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 114.4%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $CVSI 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 $CVSI, either long or short, and we have not been compensated for this article.

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