CV Sciences Inc (OTCMKTS:CVSI) has serious bullish sentiment behind it. Widespread consolidation in the Canadian cannabis market is shining the light on some of the smaller players in the game. CVSI is seeing a 52-week change of 262% and over the last month the stock has really shot up. Volume has also been impressive and steady over 1M for the last 30 days.
A lot of the recent buzz around CVSI has to do with their balance sheet. The cannabis stock saw Q1 year-over-year increases at 114% with gross profits also increasing by 129% year-over year. Joseph Dowling, CFO of CVSI said, “In every aspect, we set new performance records and laid the groundwork for continued profitable growth. On the drug development side, we made steady progress in advancing CVSI-007 – our proprietary lead drug candidate – which addresses the multibillion-dollar smokeless tobacco use and addiction market.
CV Sciences Inc (OTCMKTS:CVSI) frames 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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CVSI-007 is an interesting product and might have a chance to make a serious impact in the area of tobacco cessation products. The product is a gum with nicotine and CBD oil. CVSI is still moving it through the pre-clinical stage, but there is reason to be optimistic about it getting approved – if it gets to that stage – with the recent win for Epiodiolex.
On the financial side, as of March 31, 2018, the Company had unrestricted cash of $3,106,000 and total cash of $3,888,000. During the quarter ended March 31, 2018, the Company increased its total cash position by $1,096,000. Stockholders’ equity increased to approximately $18.0 million as of March 31, 2018.
Currently trading at a market capitalization of $113.14M, CVSI is seeing solid growth and as the news cycles have turned away from cannabis, stocks like this are getting overlooked. CVSI is showing consistent earning potential and should be on most investors’ radars. 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 $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.