CV Sciences, Inc. (OTCQB: CVSI) operates as a life sciences company, which focuses on the development and commercialization of treatments through the use of synthetic Cannabidiol (CBD) properties. The life sciences company is seeing shares rally 10%, during early trading Wednesday, September 28, 2016. Over the past three months, CV Sciences, Inc. has seen average daily volume of around 216,090 shares. However, nearly 640,000 shares or dollar volume of $211,200, has already exchanged hands through early trading Wednesday.
Shares of CV Sciences, Inc. are rallying after management released an update on the company’s operations. Management has acquired CanX Inc., which will help CV Sciences, Inc. with the development and commercialization of innovative medicines. Next, the life sciences company is actively preparing to enter a “multi-billion market opportunity,” which will feature a chewing gum that is made up of synthetic CBDs and nicotine, to help treat smokeless tobacco addiction. In addition, CV Sciences, Inc. has announced their CBD Consumer business segment has seen an expansion from 120 retail locations to over 700 storefronts. Here is the press release detailing of CV Sciences, Inc.’s press release:
CV Sciences, Inc. Press Release:
LAS VEGAS, NV–(Marketwired – September 27, 2016) – CV Sciences, Inc. (CVSI) (the “Company”, “CV Sciences”, “our” or “we”), issued a letter today to its shareholders discussing recent events and highlights.
Highlights of the letter include discussion of the following recent accomplishments:
- Acquisition of CanX Inc. and focus on the development and commercialization of innovative medicines.
- Multi-billion market opportunity presented by initial drug candidate (CVSI-007), a proprietary chewing gum that combines synthetic CBD and nicotine to effectively treat smokeless tobacco addiction.
- Review of drug development program and timeline of achievements and upcoming milestones.
- Update of the Company’s CBD Consumer Division, which has grown from 120 retail locations to now over 700 locations.
- Macro factors that continue to drive the market for natural CBD and hemp products.
- Review of corporate priorities in the Company’s pharmaceutical and consumer product divisions and how to effectively maximize the value of its operating assets for the benefit of shareholders.
To read the Letter to Shareholders in full, please visit: http://cvsciences.com/wp-content/uploads/2016/09/CV-Sciences-CEO-Letter.Sep14.2016.pdf
About CV Sciences, Inc.
CV Sciences, Inc. (CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California. Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com.