Cannabis Science (OTCMKTS:CBIS) put out its guidance for the new year on January 5, stating that it is starting out the new year healthier than ever before.
The company is focused on the development of cannabis-based medicines, with an initial focus on skin cancers, HIV/AIDS and neurological conditions, and says that it has placed a heavy emphasis on accelerating its pharmaceutical drug development programs. Its main goal is to acquire national and international regulatory approval for its cannabis-based formulations.
“2015 was a great year of growth for our Company. We made a great deal of progress with our drug development, acquisition strategy, product roll out, and strategic partnership search,” said company President and CEO Raymond Dabney in a statement. “With that said, 2016 is looking to be an exciting year for Cannabis Science. We are kicking off the new year with new products already brought to market — a huge head start over last year.”
In mid-December, the company secured a drug development agreement for CS-NEURO-1, a step toward starting phase 1 human clinical trials in Europe. Then, in November, Cannabis Science launched its cannabinoid-formulated capsule product line in California; back in May, it acquired pet care manufacturer and distributor Equi-Pharm with a view to entering the pet care industry.


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However, it’s worth noting that the Cannabis Science stock price has fallen over 80 percent in the past year, and is currently trading just above a penny. In fact, aside from a small share price spike last August, shares of the company remained steadily on the downtrend for the entire year — and so far in 2016, the Cannabis Science stock price is down 12 percent.
Diane Alter at Money Morning offered some insight into the company’s situation back in May. “The Colorado Springs, Colo.-headquartered company maintains its immediate focus is to treat cancer,” she said. “Its main focus, however, should be its massive cash burn.”
Alter explained that the company had just $10,000 in cash, as per its annual report released in April, and that Cannabis Science had reported assets worth $166,000 compared to liabilities of about $3.96 million.
Taking a look at the company’s most recent report for the quarter ended September 30, the situation hasn’t improved much. Cannabis Science had $4,791 in cash, $138,000 in assets and $5.1 million in liabilities. Revenues came in at $4,150, but the company also recorded a $3.9-million net loss.

However, despite those numbers, one analyst still appears to be positive on the company. On Novemeber 24, Cannabis Science shared an independent analyst report from Charles Reed of Caprock Research; in it, the firm gives Cannabis Science an ‘Accumulate’ recommendation, a near-term share price target of $0.05 and a long-term target of $0.10.
In the 33-page report, the Reed admits that Cannabis Science stock has been under significant pressure, but states that the company appears to have a “first mover” advantage in terms of targeting particular applications for cannabinoids. The report was disseminated via Wall Street Corner.
To be sure, Cannabis Science is still a long way off from reaching the price targets mentioned above, and its balance sheet isn’t so healthy. Still, interested investors will no doubt be standing by for updates.
The Cannabis Science stock price is currently sitting at $0.0132. It has traded within a 52-week range of $0.01 to $0.07, with an average daily trading volume of 6.76 million shares. The company has a market capitalization of 17.19 million.
 
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Aurora Cannabis Inc. (NYSE: ACB) from February 13, 2020 through September 4, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Aurora Cannabis Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

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The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.

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The Israeli cannabis market is picking up as a Canadian producer announced a new supply deal in the country.

Also this week it was shown the sales of Canadian cannabis edible products may be stalling, according to new data.

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The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.

Credit Acceptance Corporation investors (NASDAQ: CACC); December 1, 2020 deadline, click here to join .

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  • On November 19 , the Mexican Senate passed comprehensive adult-use cannabis legalization, moving Mexico towards becoming one of the few countries to legalize cannabis nationally
  • On March 31, 2020 , the Company entered into an agreement with Tecnologico de Monterrey , the leading university in Mexico , to educate physicians across Latin America , in advance of the impending regulations in Mexico
  • To date, close to 550 LatAm physicians have obtained their diploma accrediting completion of Khiron’s medical education program
  • The Company plans to deploy its ZereniaTM medical cannabis clinics and telehealth strategy in Mexico , building on the success of its vertical integration strategy in Colombia
  • Expanding the Zerenia clinic strategy will build on the Company’s Colombia knowledge and proven distribution capabilities, with rapid telehealth service adoption and over 5,600 medical cannabis scripts filled to date
  • Mexico represents one of the largest potential markets for medical cannabis in the world and is anticipated to reach $1.2bn USD by 2028 (Prohibition Partners).
  • Company to release Q3 2020 financials and host webcast on Tuesday, December 1st

Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN ), (OTCQX: KHRNF), ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe welcomes the passing of adult-use cannabis legislation by the Mexican Senate, which moves the country closer to a legalized cannabis market, and towards provision for medical cannabis products.  Khiron has had a presence in Mexico since 2018 and has been working with doctors and medical institutions to develop a deep understanding of the market.

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