CV Sciences Inc. shares up nearly 10%.
Shares of the Las Vegas-based medical cannabis company CV Sciences Inc. (OTC:CVSI) rose by nearly ten percent after the company released its toxicology and safety assessment of its PlusCBDS Oil products.
Material from the study will help support CV Sciences’ goal to achieve Generally Recognized as Safe (GRAS) status.
To assess the results, CV Sciences hired the consulting firm AIBMR Life Sciences Inc. (private) on the safety of the oral consumption of its cannabidiol (CBD) oil.
The study found that CV Sciences’ CBD products were non-mutagenic, non-clastogenic and non-genotoxic.
This means that the products containing the company’s CBD oil would not change the genetic material of a person’s DNA, will not lead to alteration or breaking of chromosomes, and won’t cause any cell mutations that could lead to other health problems, such as cancer.
The report is the first toxicological assessment that has been published since 1980, with “Rosenkrantz et al.’s publication with respect to toxicology data on CBD, Cannabichromene and hashish oil.”
According to the company, this shows “CV Sciences’ commitment in furthering the science behind the [ingredients]” of their products.
AIBMR’s Chief Scientific Officer, John Endres has said that “the completion and publication of these safety studies on this ingredient in a peer-reviewed academic journal specializing in toxicology is a monumental step forward in putting competent and reliable science behind a product.”
This is a first in cannabis-based studies on safety and toxicology, making CV Sciences one of the first companies to lead other cannabis-based companies to work on doing them same.
CEO of CV Sciences, Joseph Dowling has said that they “are thrilled to advance phytocannabinoid science and are very pleased with the safety results from this landmark study.”
CV Sciences was able to close at a share value of USD $2.11 on Friday. The company was able to reach a high share value of $2.15 and a low of $1.98.
In comparison, the company closed at a value of $1.99 on Thursday, after reaching a high of $2.24 and a low of $1.96.
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