Cannabis Science Inc (OTCMKTS:CBIS) submitted its annual report on form 10-K with SEC. In the report, it stated that it included a number of experts to its scientific advisory board so as to advance towards FDA studies and similar measures in other nations. It has three main drugs under development, primarily CS-TATI-1 targeting treatment-experienced as well as newly diagnosed patients with drug-resistant HIV strains. It is also meant for those patients who are intolerant of currently available medications. The other lead drug candidate is CS-S/BCC-1 that is targeting basal and squamous cell carcinomas.
The developments
Cannabis Science established its wholly owned subsidiary firms in The Netherlands to expand its operations in Europe. Also, it intends to cash on opportunities for governmental approvals and trials on an international basis. It is laying a strong foundation for getting approval from the FDA and other government regulatory bodies for developing medicines for PTSD, Influenza, cancer, autism and other ailments.
The objectives
Cannabis Science objective is the advancement of governmentally approved pharmaceuticals, such as the aforementioned CS-S/BCC-1, CS-TATI1, and also patented neurological therapy. It faces the key challenges of other business at initial stage of development. It even needs to deal with problems arising from the nature of the company’s operations. Notwithstanding, stockholders should be familiar with the fact that any investment in the Company is speculative and risky, and could result in a loss.
The performance
During the fiscal ended December, 2014 Cannabis Science recorded license revenues of $0 compared to $76,938 in the same period, a year ago. The educational and consulting revenue came at $1,031 compared to $5,606 for the year ended December 31, 2013. It posted an accumulated deficit of almost $1.09 billion. At this time, the company’s ability to generate strong revenues continues to be uncertain. The company clearly mentioned that there is considerable doubt about its ability to carry on as a going concern.
