Cannabis Sativa Inc (OTCMKTS:CBDS) shares were up 3.30% on Wednesday to $1.88 after the company released information on future operations and growth guidance. The company has a market cap of $32.87 million at 17.48 million shares outstanding. Shares have been trading in a 52-week range of $0.30 to $3.73.
Cannabis Sativa Inc is a company that develops and promotes natural cannabis products. It is engaged in the research, development and licensing of natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. Also, the company plans to develop, produce and market products through joint ventures with companies licensed under state regulations applicable to cannabis businesses, holding the license for a medicinal cannabis strain called NZT, a cannabis lozenge delivery methodology, and a cannabis trauma cream formula.
In its latest release, Cannabis Sativa Inc shared that key growth indicators suggest faster new drug releases and high growth potential for the company. For the first half of 2016, the company noted that several legislators were able to make progress to improve access to cannabis for medical purposes. It concluded that this could expand the market to a potential $300 billion size based on streamlined FDA clinical trials access and increased pre-clinical study acceptances.
The company shared that it has relocated its headquarters to Irvine, California to be closer to suppliers, distributers, and our strategic partners. It is also negotiating for a clinic to be opened in the Los Angeles area while continuously increasing its cannabinoid portfolio and creating coherent drug development programs for each active cannabinoid set.
Aside from that, Cannabis Sativa Inc also applauded the recent success of GW Pharmaceuticals in their phase three testing of a CBD-based product designed to treat patients with a rare form of epilepsy. These successful trials in Europe could open opportunities for similar companies to advance their testing in the US.
DISCLAIMER: There is a substantial risk of loss with any speculative asset, especially small cap stocks. The opinions expressed are those of the author, and do not constitute recommendations to buy or sell a stock. Do your own research before committing capital.
