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Are Shorts in CV Sciences Inc (OTCMKTS:CVSI) Walking into a Minefield?

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Perhaps the one player in the cannabis and CBD space that represents an almost contrarian long opportunity right now is CV Sciences Inc (OTCMKTS:CVSI). The company was famously maligned and beaten down by Citron Research in August. But it keeps battling back and putting up strong sales numbers from its CBD segment.

To add further color to the story, CVSI just announced its participation as a presenter at the Biotech Showcase investor and networking conference on Monday, January 7, 2019 at 3 p.m. PST at San Francisco’s Hilton Union Square. According to the release, “now in its eleventh year, Biotech Showcase is a fast-growing conference that provides company management an opportunity to interact with investors, sector analysts, bankers and industry professionals.”

CV Sciences Inc (OTCMKTS:CVSI) bills 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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As noted above, CVSI just announced its participation as a presenter at the Biotech Showcase investor and networking conference on Monday, January 7, after New Years out in San Francisco.

That announcement figures into a tape that has been defined by distribution of late, with shares of CVSI taking a hit in recent action, down about -12% over the past week. CVSI shares have been relatively flat over the past month of action, with very little net movement during that period.

“Biotech Showcase boasts a strong attendance of international investors, many of whom will be hearing our business model and investment opportunity for the first time,” stated Chief Executive Officer Joseph Dowling.

“The event is considered a critical early benchmark for investors in the new year that want to follow high growth opportunities in the small-cap biotech sector and we are excited to be utilizing this platform to communicate our recent strong quarterly growth announcement that included record sales, record gross profit and record GAAP Net Income.”

Now commanding a market cap of $406.62M, CVSI has a significant war chest ($11M) of cash on the books, which compares with about $3M in total current liabilities. CVSI is pulling in trailing 12-month revenues of $41.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 143.3%. We will update the story again soon as developments 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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