CNBX Pharmaceuticals Inc (CNBX)

[WallyWest]

I don’t think they’re ready for a big board. They need really solid revenue to make that work. Many companies jump for the big board too soon and end up crashing. Plus, the big boards are expensive (not just their fees, but legal, accounting and internal compliance costs are dramatically higher), which would be a drain on their resources, which I would rather they use for product development, so they can earn that revenue that will eventually put them on the big boards.

About the stock price, aside from GW Pharma, all the cannabis biotech deals seem to be moving the same way. The $7.00 share price spike was likely due to automated trading algorithms running amok (I’ve seen that before). I’m sure there’s active shorting against CNBX, but that will go away once the Company gets some significant revenue under its belt. Biotech takes time to develop, so it requires patience. I think some investors have simply moved on to other deals because there’s more action on those stocks. Again, CNBX isn’t the only company in the space to be having these issues. That’s my two cents, anyway.