Why CV Sciences Inc (OTCMKTS:CVSI) is Worth a Fresh Look

Why CV Sciences Inc (OTCMKTS:CVSI) is Worth a Fresh Look

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If you’re looking for interesting lateral range formations in the CBD space in former high-flying momentum names, then you should have a close look at CV Sciences Inc (OTCMKTS:CVSI). Shares of the stock have been tracing out a sideways range for the better part of the past eight months. To help add some more color, the company just announced the appointment of Douglas “Duffy” MacKay, N.D., as Senior Vice President of Scientific and Regulatory Affairs, effective March 18, 2019. 

According to the release, “Dr. MacKay will oversee the Company’s scientific and regulatory affairs department, ensuring CV Sciences continues to pioneer the development of hemp-based cannabidiol (CBD) products driven by rigorous science, innovation, and regulatory compliance.”

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 the appointment of Douglas “Duffy” MacKay, N.D., as Senior Vice President of Scientific and Regulatory Affairs, effective March 18, 2019. 

The chart shows -3% stripped out of share values of the name over the past week of action. Moreover, the listing has seen a jump in recent trading volume to the tune of 20% above its longer-run average levels.

“Dr. MacKay is renowned in the fields of natural medicine, nutrition and public policy, and his background and leadership capabilities make him the ideal person to lead our scientific and regulatory team,” said Joseph Dowling, Chief Executive Officer of CV Sciences. “CV Sciences is dedicated to accelerating CBD innovation, and imperative to that commitment is our ability to attract the world’s best talent. Employing people with the caliber of Dr. MacKay allows CV Sciences to not only strengthen our position as a provider of high-quality CBD products, but also improves the knowledge base and credibility of the overall industry through advanced understanding of research, product, and technology development, while ensuring regulatory compliance.”

Earning a current market cap value of $457.25M, CVSI has a significant war chest ($11M) of cash on the books, which is balanced by 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%. This may be a very interesting story and we will look forward to updating it again soon. 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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