Connect with us

Business

How CV Sciences Inc (OTCMKTS:CVSI) Has Battled Back Against the Bears

Published

on

CV Sciences Inc (OTCMKTS:CVSI) provides an excellent case study in understanding market forces at work. The company is arguably one of the most impressive growth stories in the CBD space, and the company’s recent earnings data continue to exemplify this trend. However, bears have attacked the company, led by Andrew Left’s Citron Research, who put out some research on the company back in August that suggested improper messaging around a patent application.

However, that narrative doesn’t detract from the sales growth trend in play. To further drive home that point, the company just announced Record Sales of $13,600,000, an increase of 143% compared to Q3 2017, Record Gross Profit of $9,945,000, an increase of 149% compared to Q3 2017, Record GAAP Net Income of $3,295,000, an improvement of $3,885,000 compared to Q3 2017, and Record Adjusted EBITDA of $4,128,000, an improvement of $3,253,000 compared to Q3 2017.

CV Sciences Inc (OTCMKTS:CVSI) bills itself as a company that operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors.

The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!

CV Sciences, Inc. has primary offices and facilities in San Diego, California and Las Vegas, Nevada.

Moreover, CV Sciences, Inc. operates as a life science company. It operates through two segments, Specialty Pharmaceuticals and Consumer Products. The company focuses on developing and commercializing prescription drugs utilizing synthetic cannabidiol (CBD) as the active pharmaceutical ingredient. Its initial drug candidate is CVSI-007 that combines CBD and nicotine for the treatment of smokeless tobacco use and addiction.

The company also engages in the development, manufacture, marketing, and sale of consumer products containing plant-based CBD under the PlusCBD Oil name in various market sectors, including nutraceutical, beauty care, specialty foods, and vape.

CV Sciences, Inc. was founded in 2010 and is based in Las Vegas, Nevada.

 

Moving Ahead

“We are encouraged by our performance as we delivered another strong quarter, including our third consecutive quarter of profitability. This was led by initiatives that include accelerating our brand recognition and brand loyalty and growing sales distribution channels that have generated triple-digit year-over-year revenue growth and double-digit sales growth on a sequential quarterly comparison. The demand continues to respond strongly to our leading PlusCBD™ product line, #1 in the hemp CBD product category in the natural products retail channel and we believe this is just the beginning for the vast and nascent hemp CBD market. Most notably during the quarter, we earned the industry’s first self-affirmed Generally Recognized as Safe (GRAS) status for our Gold Formula product line, a move that shows our dedication to building consumer confidence, trust and safety of our products. In conjunction with that, our product innovation was on full display with the introduction of our new PlusCBD Oil™ Gummies in two flavors, Cherry Mango and Citrus Punch as additional factors for driving revenue,” stated Joseph Dowling, Chief Executive Officer of CV Sciences.

CV Sciences Inc (OTCMKTS:CVSI) pulled in sales of $13.6M in its last reported quarterly financials, representing top line growth of 143.3%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($11M against $3M).

Mr. Dowling added, “Our drug development program is making steady progress in advancing our proprietary lead drug candidate – CVSI-007 – which addresses the multibillion dollar smokeless tobacco use and addiction market. We continue to make progress with our pre-clinical program, anticipating filing an Investigational New Drug application in 2019.  We are confident that our continued growth and profitability will allow us to initially pursue our drug development plans without the need for additional outside capital in the near term. Given the industry’s robust growth momentum, we believe we have the right strategies in place and remain committed to achieve a strong 2018 finish.”

Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!

   

Learn More About PLSI at your brokerage today!

         

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Trade




FEATURED STORIES

INDUSTRIAL HEMP6 days ago

Cronos Group Inc. (NASDAQ:CRON) Pops On Altria Acquisition Talk After Q3 Net Loss Disappointment

Cronos Group Inc. (NASDAQ:CRON) is skyrocketing up the charts having emerged it is an acquisition target of Marlboro cigarette-maker Altria...

Business6 days ago

American Green Inc (OTCMKTS:ERBB) Kicks Off December On Rough Patch

American Green Inc (OTCMKTS:ERBB) seems to have started the month of December on a rather dull pace after closing the...

Business1 week ago

HempAmericana Inc. (OTCMKTS:HMPQ) Due For A Bounce Back As Sentiments Turn Bullish

HempAmericana Inc. (OTCMKTS: HMPQ) might as well have served groundbreaking catalysts set to trigger a rally from the current lows....

Business1 week ago

Hemp Inc. (OTCMKTS:HEMP) Surging On Massive Opportunity In Hemp Sector

Hemp Inc. (OTCMKTS:HEMP) bounce back after a steep pullback is gaining momentum. The stock could as well break out of...

Business2 weeks ago

Why Medmen Enterprises Inc (OTCMKTS:MMNFF) Could be Set to Rip

Medmen Enterprises Inc (OTCMKTS:MMNFF) has been beaten down soundly over the past 6 weeks. The stock continues to set up...

Business2 weeks ago

Can Green Thumb Industries Inc (OTCMKTS:GTBIF) Get Some Traction Following Primary Data?

Green Thumb Industries Inc (OTCMKTS:GTBIF) is another cannabis player to hit the wires with its quarterly financials. This comes at...

Business2 weeks ago

Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) Hits the Wires with Q Data as Farm Bill Readies

Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) just announced financial results for the third quarter and nine months ended September 30, 2018....

Business2 weeks ago

KushCo Holdings Inc (OTCMKTS:KSHB) Beats Single Analyst Estimates on Q3 Numbers

KushCo Holdings Inc (OTCMKTS:KSHB) just announced financial results for its fiscal year 2018, for the period ended August 31, 2018....

Business2 weeks ago

OrganiGram Holdings Inc (OTCMKTS:OGRMF) Looks to Solidify Support on Expanding Supplier Status

OrganiGram Holdings Inc (OTCMKTS:OGRMF) has been an interesting outperformer in the cannabis space for most of the year. However, shares...

Business3 weeks ago

Growlife Inc (OTCMKTS:PHOT) Could be Flying Under the Radar

Growlife Inc (OTCMKTS:PHOT) has been grinding lower over the past 10 months, which represents some clear underperformance relative to the...

Create a future where the human body can repair, restore, and rejuvenate itself

 

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Play