Cannabis Science Inc. (OTC: CBIS), a development-stage company engaged in the development, production, and commercialization of phytocannabinoid-based pharmaceutical products, recently provided an update and summary of its goals and product line advancements.
Some of CBIS’ products are currently available to patients with legal state medical marijuana access. CBIS also has a number of up and coming over-the-counter products that will be available to the public nationally and internationally.
Cannabis Science has initiated, with its FDA advisory group, the pre-IND process for some critical cannabis-based medications.
Dr. Robert Melamede, CEO of Cannabis Science, said that CBIS is excited that it is developing profit centers that will come online and create revenue in 2012. Dr. Melamede said that in addition to the revenue that the company believes will be created with the cannabis extract-based prescription medicines and over-the-counter formulations, there is an opportunity to generate revenue through the partnership with Vincent Mehdizadeh of Medical Dispensing Solutions.
CBIS shares are sharply lower in trading today. At last check, the stock was down 6.95% to $0.0870 on volume of 3.85 million.
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