Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) shares were up 20.25% to $1.46 on Tuesday and down 0.82% in after-hours trading. Share prices have been trading in a 52-week range of $0.02 to $1.63. The company has a market cap of $189.50 million at 107.03 million shares outstanding.
Cannabics Pharmaceuticals Inc is a biotechnology pharmaceutical company that is focused on development and licensing of cannabinoid-based treatments and therapies. As such, it develops and markets various therapies and biotechnological tools aimed at providing relief from ailments that respond to active ingredients sourced from the cannabis plant. It develops and markets various therapies and biotechnological tools aimed at providing relief from ailments that respond to active ingredients sourced from the cannabis plant. These tools include delivery systems for cannabinoids, personalized medicine therapies and procedures based on cannabis originated compounds, and bioinformatics tools.
Its flagship product is CANNABICS SR, which is a technology for a long acting oil capsule that provides administration of cannabis. This is composed solely from food grade materials and delivers effects for over 10 to 12 hours and the delivery method enables a once per day dosing regimen of medical cannabis to patients.
The recent elections in the US also included voting on the legalization of marijuana for medical or recreational use in certain states. The yes vote in states such as Florida will open a larger market for this company, which would mean larger revenues down the line. Cannabics Pharmaceuticals Inc, however, hasn’t generated any revenues yet since it has been focused on mostly research.
Just recently, Cannabics Pharmaceuticals Inc announced a research breakthrough in discovering a more potent formulation ratio of cannabis components THC and CBD in combating cancer cells. In particular, the company shared that that results from the latest cancer HTS research overtly conclude that, depending upon the THC/CBD ratio, specific Cannabis extracts are directly contributive to reducing U87MG glioblastoma cell viability.
“The Cannabics’ method of diagnosis clearly differentiates between a multitude of varied plant extracts and their apoptotic and necrotic effects by utilizing state of the art HTS (High Through-put Screening) on cells derived from patients’ biopsies; the results of which are visualized in “scans” of the before, during and after effect upon the cancer cells themselves” said Dr. Eyal Ballan, Chief Scientist of Cannabics Pharmaceuticals Inc. “When cross linked with patients’ medical database and proprietary plant extracts, patients may receive a personalized anticancer therapy combined with the palliative effect of cannabis.”
This will enable the company to create marijuana medicines boasting greater efficacy, possibly enjoying a stable share of the medical marijuana market. Aside from that, the company could also generate extra revenues by monetizing its discovery to third-party developers of marijuana medicines.
We are pioneers in the recruitment of HTS technology to evaluate the anti-cancer properties of cannabinoid compounds through the assessment of their observed biological activity on cancer cell lines and patients’ tumor cells”. “We are also actively developing proprietary and novel compounds specifically targeted on diverse types of tumors. These compounds will be further examined in controlled clinical studies in Israel and finally it is expected through the US FDA,” added Cannabics Pharmaceuticals Inc co-founder Eyal Barad.
Analysts predict that the legal marijuana market could grow to $22 billion by 2020. The figure could be even larger if all the nine states set to vote on cannabis legislation end up with a yes vote.
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