Cannabis Science Inc (OTCMKTS:CBIS) continued to surge higher for the second consecutive session and closed at the end of the last trading session with a major gain of 17.39%. The volume of the day at 25 million was much higher than the daily average of 5.3 million, reflecting the interest of the buyers for the moment though it was nowhere even close to the highly active period seen in last August. This is the third attempt to rally in the last 3 months but the most important level that might confirm a breakout would be $0.04. The downside risks remain open till then.
The leading cannabis player Cannabis Science Inc (OTCMKTS:CBIS) announced the initiation of its drug development program with IGXBio. It also made public the news about GenePro, which is a DNA-based immunotherapeutic. It was recently approved by FDA IND. It simply means that Cannabis Science can now start the human trials without any hassle.
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The senior management teams of both the companies are delighted to have got approval from FDA. It clears the road for starting new trials and develop joint protocol to come up with potential synergistic effects of different drugs. Apart from this, both Cannabis Science and IGXBio also want to focus on new opportunities in the drug development field.
While addressing the audience, Cannabis Science President & CEO Mr. Raymond C. Dabney, said that he had a word with Dr. Allen Herman, Chief Medical Officer – CBIS, and was confident about the future of this association. According to him, IGXBio President Mr. Jim Laufenberg had already given his approval to take things forward to explore new market opportunities.
Reports claim that Laufenberg and Dr. Herman will work closely to recruit a team of scientists who can carry forward the research procedure, clearly define the requirements for laboratory and take care of this integrity issue. Laufenberg and Dabney look forward to making sure that everything falls in line.
GenePro, a sought-after drug developed by IGXBio has the approval of FDI and also carries an IND number; hence, Cannabis Science thinks that it won’t have to face any major issue while carrying out this research work. There will not be any need for FDI approval in the future; thereby the overall process will become easy and hassle-free.
GenePro can result in an anti-HIV immune response, which can further control HIV – a major issue in today’s time. If things work out as per plans, Cannabis Science and IGXBio will come up with a solution of one of the deadliest viruses in the world.