Stock’s Buzz: Vitality Biopharma Inc (VBIO), Earth Science Tech Inc (ETST), Marijuana Company Of America Inc (MCOA)
Vitality Biopharma Inc (OTCMKTS:VBIO) showing dropped of -1.59% and closed at $1.86, after gaining total volume of 170,995.00 shares. Its earnings per share (EPS) is -$0.39 and its beta value stands at 2.28 points and has total market capitalization of $35.87 million and a total of 19.29 million outstanding shares.
Vitality Biopharma Inc (VBIO) on March 30, 2017 announced that it has positive results indicating a new use for the Company’s proprietary prodrug cannabinoid delivery platform.
Multiple colon cancer cell types were screened, each with unique combinations of genetic mutations that drive cancerous growth, and including a cell line known to express drug-resistance genes such as PD-L1. The Company found that cannabidiol (CBD) universally inhibited cell growth at concentrations similar to established chemotherapeutics. Vitality also found that its cannabidiol prodrug was not toxic to the human cells at the concentrations tested, demonstrating the relative safety of its prodrug delivery system.
In the United States in 2017, the American Cancer Society estimates that 50,260 deaths will occur due to colorectal cancer, making it the 3rd leading cause of cancer-related death for women, and the 2nd leading cause of cancer-related death for men. The lifetime risk of developing colorectal cancer for both men and women is between 4-5%, or nearly 1 in 20. The most common type of colorectal cancer is adenocarcinoma ( > 95% of all cases), which arise from epithelial cells that line the colon and rectum. There are a number of predisposing risk factors for colorectal cancer, including the presence of inflammatory bowel disease.
“Our studies show that CBD inhibits colon cancer cell line growth at concentrations that are similar to those used by conventional chemotherapeutics, and at levels that we expect can be delivered using our prodrug delivery technology,” said Dr. Brandon Zipp, Director of R&D for Vitality. Robert Brooke, CEO of Vitality, adds that, “This finding means our proprietary cannabosides could be quite useful for treatment or prevention of colorectal cancer, even with hard-to-treat cancers, and without the systemic toxicity of DNA-damaging chemotherapies.”
Earth Science Tech Inc (OTCMKTS:ETST) reported the surge of 15.94% and closed at $1.60, with the total traded volume of 27,130.00 shares. During last trade its minimum price was $1.40 and it gained its highest price of $1.65 and has a total of 40.91 million outstanding shares.
On March 27, 2017 Earth Science Tech, Inc. (ETST), an innovative biotech company focused on cannabis (industrial hemp) and cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices, and its two subsidiaries – Earth Science Pharmaceutical Inc. and Cannabis Therapeutics inc. – are proud to announce the projected timeline for the delivery of its MSN-2 medical device; the negotiation of a strategic partnership with Connexions Commerciales Internationales ct, Inc.; and the beginning of negotiations with partners in Africa and Japan.
The MSN-2medicaldevicewas announced in November 2016, (https://globenewswire.com/news-release/2016/11/21/891699/0/en/ETST-Announces-60-Patient-Clinical-Prelaunch-Study-for-its-MSN-2-Medical-Device-for-the-Diagnosis-of-Chlamydia-Gonorrhea-ETST-Elects-Dr-Michel-Aubé-as-New-CEO-CSO-and-Nickolas-Tabr.html). The above mentioned medical device can be used by women to extract a cell sample from herself, which then is shipped to a proprietary lab for analysis of sexually transmitted infections. Our device is proven to sample for chlamydia and is currently undergoing testing to certify the device for gonorrhea sampling.
ETST will inaugurate the manufacturing facility for the MSN-2 medical device within Q2 2017, and the initial product release for detecting Chlamydia only may begin as soon as Q3 2017. The MSN-2 will be marketed only overseas during the beginning. The FDA and Health Canada approvals required to market a Class II medical device in Canada and the USA require the factory to be ISO-13485 accredited, which will take more time, estimating within 12 to 18 months.
Marijuana Company Of America Inc (OTCMKTS:MCOA) decreased -2.88% closed at $0.0505 and traded with total volume of 8.37M shares, while the average trading remained 7.04 million shares. During last trade its minimum price was $0.05 and it gained the highest price of $0.05. Its market capitalization was $81.16 million.
On April 4, 2017 MARIJUANA COMPANY OF AMERICA (MCOA), an innovative cannabis and hemp marketing and distribution Company, is pleased to announce that it has finalized the joint venture agreement with Bougainville Ventures, Inc. (“BV”) in Washington State.
MCOA will invest $1 million in cash in a newly formed entity. Bougainville Ventures, Inc. will contribute its expertise in the construction and management of a 30,000 sq. ft. greenhouse facility, which will accommodate a Tier-3 production and processing I-502 tenant that has decades of experience and a proven track record of consistency and quality. MCOA and BV will split equity and profits equally, 50/50.
As turnkey landlords, MCOA and BV will provide our I-502 tenant with a state-of-the-art facility that creates an ideal cultivation environment that they can move into and be fully operational on day one. This enables our tenants to focus on what they do best, producing top quality products and not worrying about maintaining their infrastructure.
Donald Steinberg, MCOA President and CEO, said, “This project will help to expand our operations as an ancillary business into the Washington State market. Achieving this milestone of closing this deal, as well as completing our PCAOB audit at the end of the first quarter are two more pillars of the strong foundation we are building for our shareholders.”
The execution of the agreement is the final step in formalizing the Letter of Intent that was publicly announced on February 15, 2017. This joint venture partnership is formed for the purpose of greenhouse construction, management and commercial leasing to I-502 licensed producers within Washington State only and not beyond its borders.