Penny Stocks To Buy [or sell] #4: Cannabics Pharmaceuticals
Next, Cannabics Pharmaceuticals (CNBX – Free Report) has been one of the more outstanding marijuana penny stocks to watch since the beginning of the year. While most cannabis names have waffled, CNBX has continued to rise. On January 2, the stock traded around $0.12 and this week it has reached highs of over $0.60.
The company focuses on the application of cannabinoids in cancer. Earlier this month Cannabics reported that in early findings, its cannabinoid Cannabigeral or “CBG” showed to have anti-tumor effects on human stomach and bone cancer cells. This was in comparison to “CBGA,” which is the acidic form of the compound.
Furthermore, through a series of testing, Cannabics also found that the cannabinoid Cannabichromene or “CBC” also exhibited anti-tumor properties when tested on human gastrointestinal cancer cells. Dr. Yaakov Waksman, the company’s head of cannabidiol research, said, “My working assumption is that these results show that a correlation may exist between a cannabinoid’s Topological Polar Surface Area (TPSA) value and its ability to induce anti-tumor activity, diminishing cancer cell’s viability rates.”