Medical Marijuana Inc (OTCMKTS:MJNA) recently announced that the European Patent Office has issued European Patent EP3094318B1 specific to “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy” to its portfolio investment company Kannalife, Inc. (OTCQB: KLFE).
According to the release, this is the sixth patent grant that Kannalife has received. Kannalife will utilize the patent to further explore the application and potential of new molecular entities (NMEs) across epilepsy, neuropathic pain, traumatic head injury, stroke, Chronic Traumatic Encephalopathy (CTE), Post Cardiac Arrest Hypoxic Ischemic Encephalopathy, Epileptic Encephalopathy, and neurodegenerative diseases such as Parkinson’s disease, Alzheimer’s, Huntington’s disease, and amyotrophic lateral sclerosis (ALS).
Medical Marijuana Inc (OTCMKTS:MJNA) casts itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.
MJNA’s subsidiary, Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products
MJNA licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.
In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products, sportswear and more.”
According to company materials, “Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.”
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As noted above, MJNA just announced that the European Patent Office has issued European Patent EP3094318B1 specific to “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy” to its portfolio investment company Kannalife, Inc. (OTCQB: KLFE).
Recent action has seen 23% during the past week in terms of shareholder gains in the company. Furthermore, the stock has seen interest climb, with an increase in recent trading volume of 42% beyond what we have been seeing over the larger time frame.
“With this patent, Kannalife has now expanded its robust intellectual property portfolio to include six patents and broadened its reach into the European Union,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “Kannalife’s research has the potential to make a global impact as their growing portfolio of international patents pushes forward their go-to-market strategy.”
Now commanding a market cap of $72M, MJNA has a significant war chest ($6.5M) of cash on the books, which compares with about $10.8M in total current liabilities. One should also note that debt has been growing over recent quarters. MJNA is pulling in trailing 12-month revenues of $76.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 5.3%. 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 $MJNA 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 $MJNA, either long or short, and we have not been compensated for this article.