Cannabis Science Inc (OTCMKTS:CBIS) a firm providing its services in the cannabis industry said that it will further take the services of Cohen Grassroots Research, Inc. The research company will initiate detailed analytical coverage. It is a reputed research form in the field of cannabis research.
The research firm prepared a 115-page initial research report on the company stating that it is cannabis medical and Pharma portfolio entity with its operations in the field of cannabis-based medical products. Cannabis industry has turned into a multi-billion industry. Cannabis Science is working on novel and effective therapies for skin cancer, HIV and neurological disorder. The other development activities include formulation of drug-resistant strains. The prime goal of Cannabis Science is to introduce innovative and quality treatments to individuals suffering from a variety of critical ailments.
The report prepared by Cohen Grassroots indicates that in last few months, new CEO Raymond C. Dabney has restructured the complete business structure. He took several measures to support growth of the company like addition of other revenue-producing businesses. Cannabis Science took significant steps to expand on global arena. The company initiated pre-investigational trials so that it can file NDA with the U.S. FDA for its drug candidates including CS-S/BCC-1, CS-NEURO-1 and CS-TATI -1.It opted for various measures to generate capital and collaborated with other entities to share synergies in different aspects.
D Paul Cohen, the CEO of Cohen said that as per the forecast, revenue of Cannabis Science is projected to surge to $64.52 million by 2020, up from $0.1 million in 2015. However, to meet guidance, the company has to arrange $14.0 million in equity financing. Anything short will create operational problems for the company. The research firm has a target of $0.19 per share on CBIS stock. Marijuana industry is a growing market. As of now, 23 states have changed medical marijuana laws and made it legal in respective regions.