Cannabis Science Inc (OTCMKTS:CBIS) released a press release stating that it has retained Wall Street’s Cohen Grassroots Research Inc. (CGR) to initiate a complex analytical coverage of the company. The retention followed an 115-page long initial Research report that mentioned that Cannabis Science Inc (OTCMKTS:CBIS) is a cannabis and pharmaceutical company. It said that the company is developing cannabis-based formulations for medical use in multi-billion dollar markets.
New CEO helped add revenue-driving businesses
The research report highlighted that Cannabis Science Inc (OTCMKTS:CBIS) is currently developing treatments for skin cancer, neurological disorders, and other infectious diseases. The report said that the company is committed to providing quality and innovative treatments to patients for multiple critical ailments. The report further stated that the company’s new CEO and President Raymond C. Dabney has successfully reshaped and redirected the business model, helping it to add more revenue-deriving businesses and assisting the company expand its global footprint.
Further, the report cited that Cannabis Science Inc (OTCMKTS:CBIS) is aggressively involved in pre-investigational studies of its formulations such as CS-NEURO-1, CS-TATI -1, and CS-S/BCC-1. It aims to get ahead with filing New Drug applications with the U.S. Food and Drug Administration (FDA). The company is actively raising funds and entering into collaborations with the aim of bringing in synergies in both commercialization and Research & Development.
Cohen’s price target of $0.19
The report estimated that the revenues of Cannabis Science Inc (OTCMKTS:CBIS) are projected to grow to $64.53 million in FY 2020 from $0.1 million in FY2015. The firm mentioned that the company will be required to raise a capital of $14 million through equity within the forthcoming years in order to meet its capital needs. Based on the assumptions that the company would be able to raise the targeted equity capital within the set time, Cohen Grassroots assigned a price target of $0.19 to the company.