The funny thing is that for a biotech, $15M isn’t too much. The cost to develop drugs and obtain approval is lengthy and expensive. Under the leadership of Sergio Traversa, New York based Relmada are planning to fund the further development of four pipeline drugs with the recent injection of cash.
Lion Biotechnologies (OTC: LBIO) closed higher once again to close yesterday’s session and going into the market open today the shares look strong with increased volume coming into the name.
Shares of CANN have performed similarly to other players within the Cannabis sector. This year it has reached as high as $64 on March as news of marijuana legalizations continued spreading across the U.S. Although it has come down since to the current levels of $3.70, the stock is still enjoying a positive performance year-to-date of +13.85%.
With all the hype surrounding e-cig companies some of the big banks are now starting to take notice. According to Bonnie Herzog, Managing Director and Senior Beverage and Tobacco Analyst and Wells Fargo Securities the market is currently worth over $1bn.
Investors in medical marijuana companies should by now be well aware of the risks. Most of the companies entering the public market are doing so via the OTCBB or OTCPINK and thus imply more risk than listing on DOW or NASDAQ. Next month the state of Florida goes to the ballot box to vote on legalizing marijuana – highly anticipated by many. The outcome will be very significant, as the state seems quite divided at this point.
Cannabis Science (OTC: CBIS) has been one of the marijuana stocks that’s been around for some time now and investors are familiar with the company. Apart from a few big runs over the last couple of years the stock hasn’t really gotten out of its own way recently as it has struggled to break through even the $0.10 cents level.