Cannabis Science Inc (OTCMKTS:CBIS) is struggling to stay afloat in the market days after reiterating its growth prospects for the year. Bears appear to have taken full control given that the stock is trading at its 52-week low and in dire need of new PR to get investors excited about the company’s long-term prospects.
In a recent press release to shareholders, Cannabis shareholders reiterated that 2016 could be a breakout year given the rate at which the market is expected to expand. Legislators moving to improve access to cannabis for medical purpose according to the company should see the market expand by 10-100 times this year to over $300 billion.
California is also poised to go to the ballot in November in a move that is expected to relax laws that regulate the accessibility of marijuana. With the relaxation of laws and improved accessibility, Cannabis Science remains confident of being one of the biggest beneficiaries given the amount of market share it has already accrued in the business.
By capturing as little as 1% of the expanded market, Cannabis Science expects a combined influx of revenue. In anticipation of robust growth, the company has already relocated its headquarters to Irvine California. With the move, the company should be close to suppliers and distributors as well as strategic partners who are expected to play a crucial role in steering the firm to new heights.
Bolstering Products Portfolio
Cannabis Science is also in the process of carrying out pre-clinical trials for a number of drugs targeting cancer, HIV-Aids among other neurological disorders as it continues to bolster its drug portfolio. Negotiations are already underway for a Los Angeles/ Medical clinic that the company believes will open markets for its proprietary cannabinoid drugs.
Bolstering sales and marketing infrastructure is also a core objective as Cannabis Science moves to fuel sales for products. The company says its products can now be accessed in dispensaries throughout California as well as Colorado as it also eyes sales opportunity online.
Amidst the string of positive news on business front Cannabis Science Inc (OTCMKTS:CBIS) needs to move with speed and avert a further slid in investor confidence if it is to avert a further slump in the market.
Positive Clinical Trial News Push Pluristem Therapeutics Inc. (NASDAQ:PSTI) Higher
Pluristem Therapeutics Inc. (NASDAQ:PSTI) continues to edge higher in the market at the back of increased volatility an indication that the street is slowly taking note of developments in clinical trials. The posting of positive pre-clinical results on PLX-R18 for the cure of insufficient hematopoietic recovery has helped bolster the stock’s sentiments on the street.
Having achieved FDA approval, Pluristem is planning to start patient enrolment as part of Phase 1 study. The company is also proceeding well with its Phase III trial on the use of its PLX-PAD cells to treat critical limb ischemia.
Success on the Phase III trial could open the way for Pluristem Therapeutics Inc. (NASDAQ:PSTI) to battle it out for market share in the $12 billion a year industry. The company has since confirmed it will carry out pivotal trials in Japan in addition to trials in the US and Europe.