Medical Marijuana Inc (OTCMKTS:MJNA) recently announced that the European Patent Office has issued European Patent EP3094318B1 specific to “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy” to its portfolio investment company Kannalife, Inc. (OTCQB: KLFE).
According to the release, this
is the sixth patent grant that Kannalife has received. Kannalife will utilize
the patent to further explore the application and potential of new molecular
entities (NMEs) across epilepsy, neuropathic pain, traumatic head injury,
stroke, Chronic Traumatic Encephalopathy (CTE), Post Cardiac Arrest Hypoxic
Ischemic Encephalopathy, Epileptic Encephalopathy, and neurodegenerative
diseases such as Parkinson’s disease, Alzheimer’s, Huntington’s disease, and
amyotrophic lateral sclerosis (ALS).
Medical Marijuana Inc
(OTCMKTS:MJNA) casts itself as an investment holding company that operates in
the medical marijuana and industrial hemp markets. Its products range from
patented and proprietary based cannabinoid products to seed and stalk or
isolated high-value extracts manufactured and formulated for the
pharmaceutical, nutraceutical, and cosmeceutical industries.
MJNA’s subsidiary, Kannaway,
LLC, is a network sales and marketing company specializing in the sales and
marketing of hemp-based botanical products. Kannaway currently hosts weekly
online sales meetings and conferences across the United States, offering unique
insight and opportunity to sales professionals who are desirous of becoming
successful leaders in the sale and marketing of hemp-based botanical products
MJNA licenses its proprietary
testing, genetics, labeling and packaging, tracking, production, and
standardization methods for the medicinal cannabinoid industry. It engages in
the research and development of cannabinoid-based pharmaceuticals; and
marketing and distribution of cannabidiol hemp oil-based products.
In addition, MJNA provides
management support and services to cooperatives, collectives, health and
wellness facilities, and medical clinics; and consulting and securities
services to businesses and individuals in the legal cannabis industry. Further,
it focuses on the treatment of pain and other medical disorders with the
application of chewing gum-based cannabis/cannabinoid medical products,
sportswear and more.”
According to company
materials, “Our mission is to be the premier cannabis and hemp industry
innovators, leveraging our team of professionals to source, evaluate and
purchase value-added companies and products while allowing them to keep their
integrity and entrepreneurial spirit. We strive to create awareness within our
industry, develop environmentally friendly, economically sustainable
businesses, while increasing shareholder value.”
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As noted above, MJNA just announced that the European Patent Office has issued European Patent EP3094318B1 specific to “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy” to its portfolio investment company Kannalife, Inc. (OTCQB: KLFE).
Recent action has seen 23%
during the past week in terms of shareholder gains in the company. Furthermore,
the stock has seen interest climb, with an increase in recent trading volume of
42% beyond what we have been seeing over the larger time frame.
“With this patent,
Kannalife has now expanded its robust intellectual property portfolio to
include six patents and broadened its reach into the European Union,” said
Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “Kannalife’s research has
the potential to make a global impact as their growing portfolio of
international patents pushes forward their go-to-market strategy.”
Now commanding a market cap of
$72M, MJNA has a significant war chest
($6.5M) of cash on the books, which compares with about $10.8M in total current
liabilities. One should also note that debt has been growing over recent
quarters. MJNA is pulling in trailing 12-month revenues of $76.3M. In addition,
the company is seeing major top-line growth, with y/y quarterly revenues
growing at 5.3%. This may be a very interesting story and we will look forward
to updating it again soon. Sign-up for
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Disclosure: we hold no position in $MJNA, either long or
short, and we have not been compensated for this article.