While other cannabis companies focus on acquisitions and entering different markets, Cannabis Science (OTCPK:CBIS) continues to develop its clinical trial teams. Earlier today, the US company announced that it has appointed an influential member of the medical field to lead its cancer clinical trial. CBIS stock, however, didn't jump on the news; it is down around 4%.
CBIS Stock: The Latest
Based in Irvine, California, Cannabis Science specializes in the development of CBD-based medicines. In the remainder of 2019, Cannabis Science will conduct various clinical trials; it will be looking at everything from lung cancer and breast cancer to Basel cell carcinoma.
On Thursday, Cannabis Science said Dr. Sulma Mohammed, a Professor of Cancer Biology at Purdue University, will be joining its Scientific Advisory Board. Dr. Mohammed, alongside other research collaborators like the Harvard International Phytomedicines Institute, will be working with CBIS on various clinical trials.
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“Dr. Sulma adds ‘Great Strength’ to our clinical trials team! As we begin our cancer clinical trials, we are honoured to bring on board another cancer specialist such as Dr. Mohammed on board our Scientific Advisory Board," the company said before adding: “Focused on clinical trials, we are bringing in many different types of new partners and not just for the money they can make, it's on many different levels."
While good news for Cannabis Science, Thursday's announcement didn't do much for CBIS stock. According to Yahoo Finance, as of 3:39 PM EDT, CBIS stock is trading at $0.0286; this puts CBIS stock down 4.03%.
Takeaway
Don't focus too much on CBIS stock trading in the red today because it isn't the only cannabis stock performing poorly. Instead, look at all Cannabis Science is doing and is planning to do for the medical community. That in itself is enough to keep a close eye on future Cannabis Science ventures.
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