- ETST
this week announced uplisting to OTCQB Venture Market
- FDA
approved product containing cannabidiol (CBD)
- Congressional
panel to vote on Cannabis Research Bill on September 13
- DEA
plans to quintuple amount of marijuana for research
The official uplisting of Earth Science Tech, Inc. (OTCQB:
ETST) to the OTCQB Venture Market (http://ibn.fm/EMxDP) on September 12, 2018, comes at a time
when auspicious news graces the cannabis community.
On Thursday, September 13, the U.S. House Judiciary
Committee will vote on a bill to increase opportunities for research into the
medical benefits of marijuana (http://ibn.fm/n3K6f).
This follows a report that the Drug Enforcement Administration (DEA) plans
to “quintuple the amount of cannabis that can legally be grown in the U.S. for
research purposes—from roughly 1,000 pounds in 2018 to more than 5,400 pounds
next year” (http://ibn.fm/2v5ud).
An announcement on June 25 by the U.S. Food and Drug Administration highlighted
the organization’s approval of a drug containing cannabidiol (CBD), marking the
first time the agency had given a drug based on substances derived from
marijuana the green light. Such action, by Congress and federal agencies, one
of which falls under its purview, undoubtedly puts pressure on the justice
department to review its stance on cannabis. Hopefully, this will soon be
forthcoming.
With an uplisting to the OTCQB Venture Market, Earth Science
Tech expects an increase in visibility and share liquidity. It has now acquired
fully reporting status with the Securities and Exchange Commission (SEC) under
the Exchange Act of 1934. The company will now be mandated to file annual
reports with the SEC on Form 10-K, quarterly reports on Form 10-Q and periodic
reports on Form 8-K, as well as subjecting itself to additional reporting
obligations related to proxies, shareholder actions and stock ownership
rules (http://ibn.fm/qKKQ2).
In a news release, ETST president, director and Chairman
Nickolas S. Tabraue commented, “Historically, up-listing to the OTCQB and being
fully reporting has resulted in greater liquidity and awareness. We are
committed to the higher level of corporate and financial disclosures required
as an OTCQB fully reporting company, demonstrating our commitment to our loyal
shareholders.”
The FDA ruling on June 25 is likely to have a ripple effect.
It is the first time a product that “contains a purified drug substance derived
from marijuana” has been approved by the FDA (http://ibn.fm/X8kVW). The favored drug is Epidiolex, an
oral cannabidiol (CBD) solution, for the treatment of seizures associated with
two rare and severe forms of epilepsy, Lennox-Gastaut syndrome and Dravet
syndrome, in patients two years of age and older. It is also the first FDA
approval of a drug for the treatment of patients with Dravet syndrome. Its
authorization should overcome justice department inertia. Since cannabis
is presently classified as a Schedule 1 substance, with no medical use, the FDA
must ask the DEA for a reclassification (http://ibn.fm/9Ecoz). Moreover, although the justice
department has promised to relax the rules on cannabis research since 2016, it
has, so far, approved none of the applications submitted. However, now that the
FDA, which is under the Department of Health and Human Services, has pushed it
into a corner, it may be forced to do so.
The brightening environment is bolstering Earth Science
Tech’s prospects. Through subsidiary Cannabis Therapeutics, Inc. (CTI), it aims
to take a leadership role in the development of new, leading-edge,
cannabinoid-based pharmaceutical and nutraceutical products. At present, CTI is
studying various medicinal effects of CBD. The company holds a provisional
application patent for a CBD product that is focused on developing treatments
for breast and ovarian cancers.
Another subsidiary, Earth Science Pharma, Inc., is
developing low-cost, noninvasive diagnostic tools, medical devices, testing
processes and vaccines for sexually transmitted infections and/or diseases. The
division is targeting medical devices and vaccines that meet the specific needs
of women. Its first medical device, MSN-2, is a home kit designed for the
detection of sexually transmitted infections (STIs), such as chlamydia, from a
self-obtained gynecological specimen.
A third subsidiary, KannaBidioiD (KBD), provides a wide
variety of products geared toward the recreational cannabis market. KBD’s
unique Kanna and CBD formulation is sold and distributed in CBD-infused edibles
and vapes/e-liquid products. Kanna and CBD synergistically enhance one another,
providing optimal relaxation, an uplifting sensation, enhanced focus and the
added benefit of assisting with nicotine reduction therapy.
For more information, visit the company’s website at www.EarthScienceTech.com
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