The CBD space has been a graveyard of pain for investors, but CV Sciences Inc (OTCMKTS:CVSI) continues to wage war against that tide, and it may start to pay off before long as the commodity cycle in the space runs its course. To add some color to the story, the company just announced the launch of its updated PlusCBD Oil website: www.pluscbdoil.com.
According to the release, “With a fresh look and feel, the updated PlusCBD Oil website offers visitors an enhanced user experience and walks them through their hemp CBD journey, with multimedia educational resources, enriched content, informative blog posts, groundbreaking research, in-depth product information and improved shopping tools, resulting in an easy-to-use customer experience. The updated website also offers an interactive quiz that recommends specific products to best suit a person’s unique needs and lifestyle.”
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 launch of its updated PlusCBD Oil website: www.pluscbdoil.com.
Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week. Furthermore, the listing has registered increased average transaction volume recently, with the past month seeing 12% beyond its prior sustained average level.
“The refreshed PlusCBD™ Oil website is designed to add value to our new and existing customers throughout their entire CBD journey, from CBD education through product selection and checkout,” said Joseph Dowling, Chief Executive Officer of CV Sciences. “During the past year, we have invested heavily in personnel, technology and digital marketing to support expansion of our direct-to-consumer e-commerce sales initiatives to ensure we are best positioned to drive growth through this important channel.”
Now commanding a market cap of $90.5M, CVSI has a significant war chest ($14.2M) of cash on the books, which compares with about $12.1M 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 $58.6M. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -7.3%. 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.