Here’s One Clear Reason CV Sciences Inc (OTCMKTS:CVSI) May Have Big Things...

Here’s One Clear Reason CV Sciences Inc (OTCMKTS:CVSI) May Have Big Things Ahead

SHARE

While shares of CV Sciences Inc (OTCMKTS:CVSI) have been sliding of late, we saw a distinct boost to the action in the stock on Friday to close out last week. That will put a premium on analysis for shares of CVSI during this coming week to establish a better sense of whether or not we might be starting to lay a foundation for a major new leg higher given recent upgrades to the growth potential expected for the CBD space, where the company is an undisputed leader. To further flesh out the story, the company just announced its full support of the California Assembly’s Appropriations Committee’s unanimous passing of Assembly Bill 228 last week.

According to the release, authored by Assemblymember Cecilia Aguiar-Curry (D-Winters), Assembly Bill 228 would expressly permit the retail sale of hemp-derived CBD in foods and supplements, and also in topical applications. The release also notes that the legislation will now head to the full Assembly for approval this week.

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.”

Find out when $CVSI reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, CVSI just announced its full support of the California Assembly’s Appropriations Committee’s unanimous passing of Assembly Bill 228 last week.

Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -12%.

“The unanimous vote last week reflects broad support to clarify the law and allow Californians to continue to have access to and experience benefits from quality hemp-derived CBD products,” notes Joseph Dowling, Chief Executive Officer of CV Sciences.”

Earning a current market cap value of $447.31M, CVSI has a significant war chest ($13.6M) of cash on the books, which must be weighed relative to about $11.3M in total current liabilities. One should also note that debt has been growing over recent quarters. CVSI is pulling in trailing 12-month revenues of $55.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 84.8%. You can bet we will update this one again as new information comes into view. 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.

Sign Up for our 100% FREE Oracle Dispatch Newsletter