Which Way Ahead for CV Sciences Inc (OTCMKTS:CVSI)?

Which Way Ahead for CV Sciences Inc (OTCMKTS:CVSI)?

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The remarkable lateral consolidation continues to build itself toward some kind of eventual directional resolution in shares of CV Sciences Inc (OTCMKTS:CVSI). That dynamic has maintained itself despite interesting news from the company that it has achieved a further expansion of its industry-dominating PlusCBD Oil brand with The Kroger Co. (NYSE:KR).

According to the release, “The Company’s expanded retail distribution includes the launch of CV Sciences’ new PlusCBD Oil Roll-Ons in 945 Kroger stores across many of its retail banners, including Kroger, Dillons, Fry’s, Fred Meyer, King Sooper, Mariano’s, Pick ‘n Save, QFC and Smiths locations in 17 U.S. states.  PlusCBD Oil Roll-On, available in 200mg CBD and Extra Strength 500mg formulations, is infused with concentrated CBD from agricultural hemp plant parts, warming camphor and cooling menthol. Made with its Gold Formula concentrated full spectrum hemp extract, the Roll-Ons offer high intensity support in an easy-to-use application. The Company’s best-selling PlusCBD Oil Extra Strength and Original Balms are also available at the participating Kroger locations.  To meet consumer expectations of clean ingredients, all PlusCBD Oil topical products contain no phthalates, sulfates or parabens and are made without artificial dyes or scents.”

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 further expansion of its industry-dominating PlusCBD Oil brand with The Kroger Co. (NYSE:KR).

The chart shows 7% tacked on to share pricing for the listing in the past week. Furthermore, the listing has seen interest climb, with an increase in recent trading volume of 15% above its longer-run average levels.

“We are delighted to partner with Kroger and launch our new Roll-On topical as we continue our rapid expansion into the FDM channel,” said Joseph Dowling, Chief Executive Officer.  “Kroger, CVS Pharmacy, and other leading national retailers are keenly aware of the increased consumer demand for hemp-based CBD products and they are partnering with CV Sciences because of our unwavering commitment to safety and quality. We are at the beginning of what we believe will be broad acceptance of CBD products across national FDM accounts and we look forward to our continued growth as we expand store count and SKUs with our retail partners.”

At this time, carrying a capital value in the market of $461M, 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.

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