CURE Pharmaceutical Reports Second Quarter 2021 Revenue Rose Nearly 700% Driven by Sales from Sera Labs Product Lines

Rhea-AI Summary

CURE Pharmaceutical Holding Corp. (OTC: CURR) reported a remarkable 700% revenue increase to $2.1 million for Q2 2021, with gross profit rising 676% to $1.31 million. The net loss decreased significantly to $3.27 million from a loss of $13.47 million year-over-year. Key developments include CVS's upcoming launch of the Seratopical Revolution skincare line, ISO 9001 certification for its facility, successful initial clinical trials of CUREfilm Blue™, and a partnership with Biopharmaceutical Research Company to create cannabis-based medical products for Veterans.

Positive

• Revenue increased 700% year-over-year to $2.1 million.
• Gross profit rose 676% to $1.31 million compared to Q2 2020.
• Net loss improved significantly to $3.27 million from $13.47 million a year ago.
• Signing an agreement with CVS to carry Sera Labs' products enhances market access.
• ISO 9001 certification for manufacturing facility indicates quality operational standards.
• Successful initial clinical trials for CUREfilm Blue™ may enhance future sales potential.

Negative

• None.

CURE Pharmaceutical Holding Corp. (OTC: CURR), today announced results for the quarter ended June 30, 2021, including the following highlights:

• Revenue of $2.1 million reflected an increase of nearly 700% from a year ago
• Gross profit rose 676% to $1.31 million compared to 2Q 2020
• Net loss from operations of $3.27 million improved substantially compared to a net loss from operations of $13.47 million a year ago

Operational Highlights

Key operational highlights during the second quarter of 2021 and subsequent weeks included:

• Sera Labs’ announcement that CVS, a leading national drug store chain, will carry the Seratopical Revolution™ Skincare line starting this fall.
• CURE’s manufacturing and research facility secured the International Organization for Standardization (ISO) 9001 certification.
• CURE announced successful results from initial clinical trials for its erectile dysfunction product CUREfilm Blue™.
• CURE signed an agreement with Biopharmaceutical Research Company, (BRC), a Drug Enforcement Administration (DEA) license holder, to develop federally compliant cannabis-based medical products using oral thin film (OTF)-based CBD and THC products and conduct clinical studies targeting Veteran health.

Rob Davidson, CURE Pharmaceutical’s CEO stated, “During the second quarter, the company executed well on the planned growth of Sera Labs as marked by this quarter’s strong sales as well as by the recently announced agreement with CVS to carry the Seratopical Revolution product line in their stores. On the clinical development front, our agreement with BRC opens up a tremendous opportunity to advance our long-held goal of delivering treatments and solutions to our Veterans using our patented and proprietary OTF delivery platform. The ability to support the science of treating certain ailments with CBD and THC are well documented and we look forward to advancing this important cause.”

For further details please visit CURE’s website under SEC filings to review its 10-Q filed August 16, 2021: www.curepharmaceutical.com/investors/sec-filings/

About CURE Pharmaceutical Holding Corp.

CURE Pharmaceutical® is the pioneering developer of CUREform™, a patented drug delivery platform that offers a number of unique immediate- and controlled-release drug delivery vehicles designed to improve drug efficacy, safety, and patient experience for a wide range of active ingredients.

As a vertically integrated company, CURE’s 25,000 square foot, FDA-registered, NSF^® cGMP-certified manufacturing facility enables it to partner with pharmaceutical and wellness companies worldwide for private and white-labeled production. CURE has partnerships in the U.S., China, Mexico, Canada, Israel, and other markets in Europe.

About Sera Labs

Sera Labs’ high quality, science-backed products are sold in major national drug, grocery chains and mass retailers. The company also sells products under private label to major retailers and to multi-level marketers, and direct-to-consumer through its website, which also offers opt-in subscriptions. Sera Labs® is a trusted innovator of products in the health, wellness, and beauty sectors whose cutting edge technology and superior ingredients include CBD and other clean plant-based products. Its more than 20 products are sold under the brand names Seratopical™, and SeraLabs at affordable prices that make them broadly accessible on a global scale. For more information visit: Seratopicalrevolution.com, Seratopical.com, Seralabshealth.com and follow us on Instagram at @seratopical, as well as Twitter, and Facebook.

Media contact: press@theseralabs.com.

Forward Looking Statement

Statements CURE makes in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. CURE intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and is making this statement for purposes of complying with those safe harbor provisions.

These forward-looking statements include, without limitation, the ability to successfully market the partnered products, the difficulty in predicting the timing or outcome of related research and development efforts, partnered product characteristics and indications, marketing approvals and launches of other products, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties and the ability to obtain financing on favorable terms. The forward-looking statements in this press release reflect CURE’s judgment as of the date of this press release. CURE disclaims any intent or obligation to update these forward-looking statements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of our securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210817005392/en/

FAQ

What were CURE Pharmaceutical's Q2 2021 revenue results?

CURE Pharmaceutical reported a revenue of $2.1 million for Q2 2021, a 700% increase compared to the previous year.

How did CURE's gross profit change in Q2 2021?

CURE's gross profit for Q2 2021 rose 676% to $1.31 million compared to Q2 2020.

What improvements did CURE Pharmaceutical make to its net loss?

CURE's net loss from operations improved to $3.27 million in Q2 2021, significantly down from $13.47 million a year earlier.

What are the key operational highlights for CURE Pharmaceutical in Q2 2021?

Key highlights include the upcoming launch of Seratopical products at CVS, ISO 9001 certification, successful clinical trials for CUREfilm Blue™, and a partnership with BRC for cannabis-based products.

What is the stock symbol for CURE Pharmaceutical?

The stock symbol for CURE Pharmaceutical is CURR.