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Big Mover; Cannabis Science Inc. (CBIS)

By Warren Paige

Shares of Cannabis Science Inc. (OTC: CBIS), a developer of pharmaceutical grade medical cannabis products, have risen sharply in trading today.

At last check, CBIS shares were trading 17.50% higher at $0.0705 on above average volume of 8.85 million. The stock has gained more than 35% in the last three trading sessions.

CBIS this week announced that it initiated a research program to explore the commercial development of Phytocannabinoid-based therapeutics for drug resistant HIV infection. Dr. Robert Melamede, CEO of Cannabis Science, said that CBIS is dedicated to the development of the first Phytocannabinoid-based treatment for HIV and the company’s program is based on the initial identification of antiviral activity of Phytocannabinoids against TAT activity.

Cannabis Science also announced the appointment of Roscoe Moore, DVM, Ph. D., MPH, to its Scientific Advisory Board. Dr. Moore has served as the chief epidemiologist with the Centers of Devices and Radiological Health in the U.S. FDA. He has also held positions in the U.S. Public Health Service.

 

June 7th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.