Establishing credibility in the cannabis industry is challenging at best. There still exist a “stigma” associated with businesses that are in any way associated with what many people believe to be an illegal substance. From the perspective of federal law, marijuana is illegal. The federal government however, is not enforcing federal laws on marijuana. Consequently, marijuana businesses have to “jump through hoops” to present themselves as legitimate business to appeal to some investors. CV Sciences, Inc. (OTCMKTS:CVSI) is making great strides in this arena, for itself, and for the industry as a whole.CV Sciences, Inc. 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. The company has pivoted into drug development focused on the development and commercialization of cannabis derived innovative medicines.The company very recently announced that it will be meeting with the U.S. Food and Drug Administration (FDA) on June 15, 2017, to discuss its initial drug candidate (CVSI-007), a chewing gum that combines CBD and nicotine, which the Company believes has the potential to effectively treat smokeless tobacco addiction. CV Sciences' President and CEO Michael Mona, Jr. commented:
"Smokeless tobacco continues to be a major health hazard and epidemic as we have been reporting on the industry's unmet needs in treating this addiction, between Major League Baseball's (MLB) decision to ban smokeless chewing tobacco for new players and most recently, the U.S. Department of Defense's (DoD's) campaign to provide assistance to military personnel looking to quit the use of smokeless tobacco. This further demonstrates a mainstream push towards treating and reducing smokeless tobacco addiction, an unserved medical indication with no FDA-approved product. We believe our drug candidate can have a significant positive impact on patients seeking treatment. We look forward to our meeting with the FDA, as it will be essential to the design of our clinical development program and the filing of our Investigational New Drug (IND) application."
On March 13, 2017, CV Sciences, Inc announced the launch of the first online education platform designed to enhance its brand education and advocacy through the website Experticity. Currently over 750 consumer brands are working with Experticity to educate and tap into real-life experts (industry professionals, category opinion leaders, online influencers and passionate retail sales associates) to create a new type of buying experience. CV Sciences' education platform will cover a variety of topics pertaining to hemp, phytocannabinoids, and its industry-dominating consumer products brand, PlusCBD Oil™.
"Investing in retailer education is a practice we know demonstrates results," states Sarah Syed, Director of Marketing at CV Sciences. "CV Sciences is dedicated to supporting our retailer and wholesale partners by employing methods we know have a broad impact on consumer buying decisions."
In an effort to further establish credibility, CV Sciences, Inc has presented and/or exhibited at various conferenced and expos. January 25, 2017 the company presented at the NobleCon13 Annual Investor Conference at the Boca Raton Resort & Club, Florida. CV Sciences' Chief Financial Officer, Joseph Dowling, presented an overview of the Company and discussed its recent business highlights.CV Sciences, Inc exhibited at Natural Products Expo West on March 9-12, in Anaheim, California. Produced by New Hope Network, Natural Products Expo West is one of the world's leading trade shows in the natural, organic and healthy products industry attracting over 77,000 industry professionals and 3,000 exhibits to the Anaheim Convention Center.
CVSI stock is holding steady at $.3450. This is quite a bit below the high of the price spike that took place in October of 2016 when price hit $.98, and then immediately gave most of the gain back. Fourth quarter financials for 2016 show an upward trend in revenues quarter-to-quarter, and a strong balance sheet for the year ending 2016. Current market capitalization stands at $20.61 million, on 62.75 million shares outstanding as of March 23, 2017. The outcome of the meeting with the U.S. Food and Drug Administration (FDA) in mid-June will more than likely have a significant impact on the company, and its stock price. We will be updating our subscribers as soon as we know more. For the latest updates on CVSI, sign up below!Disclosure: We have no position in CVSI and have not been compensated for this article.
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