CV Sciences Inc (OTCMKTS:CVSI) is still charting upward continuing to maintain bullish sentiment as we roll into June. CVSI is up more than 200% in the last month and over 400% over the last 3 months.
The driver for CVSI’s growth continues to be on two fronts: the company’s revenues and the outlook for CBD oil in general. CBD oil is rising in popularity and could even see FDA approval in the next few months for an epilepsy drug. This kind of traction means that some of the stigmas are being shed from CBD and more education is entering the marketplace especially on the government side, as hard to believe as that is.
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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As mentioned above, the financial numbers have been quite solid for CVSI. The 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. Sales for Q1 2018 were $8.1 million demonstrating the Company’s continued organic expansion into all sales channels including the natural product retail, wholesale and direct-to-consumer channels. This is an 11% sequential quarterly increase from $7.2 million reported for Q4 2017. The Company’s natural product retail channel now includes 1,771 locations nationwide.
CV Sciences Inc (OTCMKTS:CVSI) is certainly a stock to being watching right now. CVSI has a market cap of $212.7M and a float of 74.78M. The stock has solid fundamentals and growth to boot. Plus, CVSI just settled an SEC issue and the company did not get dinged too badly in the settlement. We will be offering updates as they come. 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.