CV Sciences Inc (OTCMKTS:CVSI) Continues to Sail Into Orbit on Strong Data

CV Sciences Inc (OTCMKTS:CVSI) Continues to Sail Into Orbit on Strong Data

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One stock we have been all over lately is CV Sciences Inc (OTCMKTS:CVSI). The company has been dialed in and trending higher, with an open application to uplist onto the big boards and some very strong recent data. CVSI just announced Q2 results, headlined by record sales of $12,349,000, which represents an increase of 203% compared to Q2 2017.

“CV Sciences delivered strong financial results for the second quarter of 2018, including our second consecutive quarter of profitability. We also reported record key performance metrics that include triple-digit year-over-year revenue growth and double-digit sales growth on a sequential quarterly comparison. To date, we have been able to successfully execute our planned strategy of aggressively and consistently growing our sales distribution channels, further penetrate the market and increase our market share within the natural products industry. Our operating performance is driven by the strength of our market-leading PlusCBD product line, which today is #No. 1 in the hemp CBD product category in the natural products retail channel. In every aspect, we set new performance records and laid the groundwork for future expansion as the health and wellness markets continue to embrace CBD commercialization and standardization,” stated Joseph Dowling, Chief Executive Officer of CV Sciences.

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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Traders will note 88% added to share values of the name over the past month of action. Moreover, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 76% above its longer-run average levels.

Mr. Dowling added, “Our drug development program is making steady progress in advancing our proprietary lead drug candidate – CVSI-007 – which addresses the multibillion-dollar smokeless tobacco use and addiction market. We continue to make progress with our pre-clinical program as we advance toward filing an Investigational New Drug application in 2019.  We are confident that our continued growth and profitability will allow us to initially pursue our drug development plans without the need for additional outside capital in the near term. We also filed our application for up-listing to the Nasdaq Capital Market which could significantly enhance shareholder value. In looking ahead, we expect to deliver a strong second half and believe we have the ability to continue this growth momentum in 2019 and beyond.”

At this time, carrying a capital value in the market of $286.9M, CVSI has a significant war chest ($7.23M) of cash on the books, which must be weighed relative to about $390K in total current liabilities. CVSI is pulling in trailing 12-month revenues of $14M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 203%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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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