Fink, good analysis. I work in the clinical research industry (oncology) and the cost of bringing a drug to market is usually in the 100s of billions of dollars. I'm not sure why CBIS is trying to get FDA approval since cannabis is already used to help patients with chronic illness.
Also, most drugs have to go through animal testing, looking at how the drug is dispersed in the body, the chemical breakdown of the drug and if the drug is effective on what it is supposed to treat. An Investigational New Drug (IND) usually goes through animal testing before it is approved by the FDA and can be moved to Phase 1 human testing.
Phase 1 human testing is used to show the safety of the new drug in the human body.
Phase 2 and 3 human testing actually starts to look at the effectiveness of the drug to treat the given symptom/illness.
This drug could take many years to come to market even if it has somehow bypassed animal testing models. Most drugs take 10+ years to come to market. 99% of drugs fail going through the IND development and clinical trial process. The amount of money that is needed to find a chemical compound that treats an illness is hard enough. Taking that compound through animal/human testing is even harder given toxicity issues and seeing whether the drug even works. That is why new pharmaceutical drugs are so expensive. Some oncology treatments can range in the 100s of thousands of dollars. The pharmaceutical companies have to try to recoup the capital that they put into the drug to make the next and probably even more complex new drug.
Anyway, I found some funds under one of my couch cushions and they should be in my brokerage account by the end of the week. This stock seems very undervalued given what I am seeing.
IMO
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