In the morning we saw news that Representative Scott Perry (R-PA) has introduced a bill to nationally legalize CBD oil, or marijuana extract, to treat seizures in children.
Charlotte Figi is a 7 year old girl in Colorado whose story sparked a national movement about medicinal marijuana and its potential over the last year. She went from having 300 seizures a week to having only two or three as a result of treatment with CBD oil.
The bill, called the "Charlotte's Web Medical Hemp Act of 2014," does not legalize all forms of marijuana for medical use, it does remove CBD oil and therapeutic hemp from the federal definition of marijuana in the Controlled Substances Act. "Therapeutic hemp" is that which contains no more than .3% THC and thus produces no "high."
Our new alert is perfectly positioned to benefit from a bill of this type. Remember, this bill would not affect recreational use, but would help medical marijuana companies being blocked by certain states and accepted by others. Today's medical marijuana report is:
CBIS - Cannabis Science
What we are seeing is significant steps towards federal legalization with a widespread impact on the national status of medical cannabis use, which will enable Cannabis Science to move swiftly into a position of great strength to bring its proprietary cannabis formulations to market.
CBIS' products are medical cannabinoid products developed from one or more of the cannabinoid compounds found in the cannabis plant. Cannabis sativa is one of the most widely used plants for both recreational and medicinal purposes.
To date a total of 525 natural constituents covering several chemical classes have been isolated and identified from Cannabis sativa. The cannabinoids belong to the chemical class of terpenophenolics, of which 85 have been uniquely identified in cannabis, including the most psychoactive cannabinoid, tetrahydrocannabinol commonly referred to as THC.
CBIS closed Tuesday at .079 per share. Lets look into its share structure before we talk about the two compounds CBIS has been working on.
CBIS Quick Facts
- Market Cap - $66.7M
- Shares O/S - 844M
- Float - 24M
- 52 Week High - $0.29
CS-TATI-1 - Cannabis Science's development of CS-TATI-1 will be targeted to both newly diagnosed and treatment-experienced patients with drug-resistant HIV strains, as well as those intolerant of currently available therapies. Their product is a whole plant extract, formulated for topical administration as a Phase I product, then to be potentially investigated as an oral administration for systemic delivery.
CS-S/BCC-1 - Since 2011, CBIS has seen apparent success in 4 skin cancer patients who have self-administered CS-S/BCC-1 –cannabinoid based extracts topically to their basal and squamous cell carcinomas. These patients have experienced shrinking and apparent eradication of their skin cancer lesions, backed by positive reports from their doctors. With these results, Cannabis Science is confident it can begin programs for over the counter (OTC) and prescription drug markets. The company is consulting with a team of FDA specialists to plan for a pre-IND meeting with the agency with the goal of creating a road map leading to an IND application.
Premarket today CBIS put our a press release regarding the bill we mentioned - "After many successful medical cannabis initiatives on the state level, we are seeing federal lawmakers of both parties actively legislating for medical cannabis reform on a federal level to help patients. Cannabis Science supports these federal efforts and calls on Members of Congress to examine and expand patient-based research and support these critical bills," said Chad S. Johnson, CBIS' COO.
With landmark legislation opening up new, untapped markets seemingly every month, CBIS couldn’t ask for much more. What we'd like to see is more progress with the FDA and more test results from the tests they have been running using these compounds.
Make sure you're watching CBIS today!
