notes from investor day:
-they're not planning on growing anything themselves (whether marijuana or hemp)
-they are deeply involved in the hemp lobby.
-they're close to GRAS certification. the toxicity report they funded a few weeks/months ago now has to be independently peer reviewed, after which they'd be GRAS certified, which they emphasized was a HUGE milestone.
-they spent a LOT of time on the CV-007 smokeless tobacco drug. i learned a lot about the way it works. fascinating stuff.
-CEO really pounded the table on this drug. he underscored many things that make it so exciting: 1) the fact that the FDA is really making nicotine addiction a top priority; 2) that the potential market is a $4 billion dollar opportunity, for which there currently exists 0 drugs and 0 drugs in development; 3) that the CEO and company believe the market is currently only valuing CVSI based on their consumer products arm and not their drug development arm. this is huge.
-they reminded us that the FDA met with them many months ago and were very excited about the prospects of the drug, and gave them a roadmap to accelerate the process of getting the ball rolling.
-they plan on starting clinical trials in 2019 following an IND application with the FDA
-they're excited to read the toxicity reports and other pertinent data following the release of said information from GWPH in the next few months -- there's a lot for them to learn apparently.
-not only are they in ~2000 stores, they're also in 1000 doctors offices (!!!)
-Dr. Joseph Maroon (famous NFL doctor) gave a great presentation on the benefits of using CBD and overall highlighted it as a key tool against inflammation, which is foundational to fighting/preventing just about every deadly disease. inasmuch as people take fish oil daily as a supplement, they envision people taking CBD oil daily as a supplement because of its anti-inflammatory properties. he said the majority of players he works with are increasingly more willing to try CBD than they are prescription painkillers and opiates. just highlighting the sea change we're in the early stages of.
that's basically it, plus the results of the vote which everyone knows. overall it was very exciting. CEO seemed very serious and excited, and almost seemed to not be able to emphasize enough the massive growth this industry is about to undergo, and how well-positioned CVSI is to capitalize on that growth.
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