Cannabis Science Inc (OTCMKTS:CBIS) reported that initial CBIS products have been launched under their deal with the “Cannabis Science Research Foundation.” The initial launch is for test marketing and the findings will play a vital role prior to the large-scale rollouts. The company’s products are being sold in various locations in California. As of now, there are at least three to four private and public dispensaries to buy the products.
The expert view
Raymond C. Dabney, the CEO of Cannabis Science, said that they have recorded previous success with self medicating patient usage and they expect similar results from this launch. The company has received several requests from these patients across world seeking treatments for different critical diseases.
The CEO said that they are relieved to release the initial products in California to receive self-medicating patients’ response on their products. Cannabis Science has no scarcity of diverse products to be introduced for different ailments, as each patient has unique needs to treat their personal ailments.
The plans
Dabney added that the company will be launching various product dosages, delivery procedures, in various jurisdictions as per the regulatory stipulations. They look forward to providing more information about locations and products as it becomes available.
The California new CBIS product launches are due to company’s research and distribution deal signed with Cannabis Science Research Foundation. The entity is responsible for the launch and distribution of the company’s products under CBIS brand for its initial State-by-State measures. The CSRF license distribution deal is needed to fulfill the committed focus Cannabis Science has on its U.S. FDA drug development plans.
In last trading session, the stock price of Cannabis Science Inc (OTCMKTS:CBIS) declined more than 3% to close the trading session at $0.0290. The decline came at a share volume of 8.26 million compared to average monthly share volume of 10.24 million. After the recent decline, the market cap of Cannabis Science stands at $37.18 million.
