Welcome to our dedicated page for Cv Sciences news (Ticker: CVSI), a resource for investors and traders seeking the latest updates and insights on Cv Sciences stock.
CV Sciences, Inc. (CVSI) operates at the intersection of scientific innovation and natural wellness, developing hemp-derived supplements and plant-based nutrition solutions. This page serves as the definitive source for official company announcements, research breakthroughs, and operational developments.
Investors and industry stakeholders will find curated updates spanning regulatory milestones, product launches, and peer-reviewed studies validating CVSI's formulations. The archive includes earnings reports, manufacturing expansions, and clinical trial outcomes supporting their +PlusCBD and Cultured Foods brands.
All content undergoes rigorous verification to ensure alignment with financial disclosure standards and scientific accuracy. Users can efficiently track the company's progress in obtaining self-affirmed GRAS statuses, scaling global distribution networks, and advancing pet wellness innovations.
Bookmark this resource for real-time access to CV Sciences' advancements in cannabinoid research, nutraceutical safety protocols, and strategic partnerships within the consumer health sector. Regularly updated to reflect the company's evolving role in science-driven wellness solutions.
CV Sciences, Inc. (OTCQB:CVSI) announced preliminary approval of a proposed settlement for a derivative lawsuit in Nevada, alleging breach of fiduciary duty. This lawsuit stemmed from events linked to a class action dismissed in July 2019. A settlement in principle was agreed upon in January 2022, with the U.S. District Court granting preliminary approval on February 7, 2023. A final hearing is scheduled for May 15, 2023. If approved, this settlement will resolve all claims without admitting wrongdoing by the company. Additionally, the settlement includes certain corporate reforms to be implemented within 60 days post-approval.
CV Sciences has announced the launch of a new 30-count bottle of its popular +PlusCBD™ Reserve Collection Softgels, set to be available from January 19, 2023. This product, which initially launched in August 2022 in a 60-count format, features a 10:1 ratio of CBD to THC, offering 12.5mg of CBD and 1.25mg of THC per softgel. The smaller bottle, priced at $37.99, aims to make the product more accessible for consumers, especially for those on a budget. CV Sciences emphasizes the product's benefits in addressing issues related to depression, stress, and anxiety, expanding its appeal to both experienced users and newcomers.
CV Sciences, Inc. (CVSI) reported third-quarter 2022 revenue of $3.8 million, down 27% from $5.1 million in Q3 2021. Gross margin decreased to 41.6% from 46.2% year-over-year. Operating loss improved to $0.9 million, significantly reduced from $3.0 million in the same quarter last year. Adjusted EBITDA was negative $1.2 million, an improvement from negative $2.7 million. The company launched new products and maintained its position as the top-selling hemp extract brand.
CV Sciences, Inc. (OTCQB:CVSI) will release its third-quarter financial results for the period ending September 30, 2022, on November 14, 2022, before the market opens. A conference call will be held the same day at 7:00 a.m. PT, accessible via phone or webcast. The company, known for its PlusCBD™ products, operates in both consumer product manufacturing and drug development. CV Sciences adheres to strict manufacturing practices and has achieved self-affirmed GRAS status for its products, supported by clinical research.
CV Sciences, Inc. (OTCQB: CVSI) announced preliminary approval of a proposed settlement regarding six shareholder derivative lawsuits related to allegations of misleading investors concerning patent protection for CVSI-007. The lawsuits arose from a tweet by Citron Research on August 20, 2018. The proposed settlement will involve payment of $275,000 in attorneys' fees, expected to be covered by insurance. The final approval is pending a court hearing on November 14, 2022. All claims will be resolved without admission of wrongdoing by the Company or defendants.
CV Sciences, Inc. (OTCQB:CVSI) announced the complete retirement of its convertible debt, strengthening its balance sheet and eliminating the dilutive impact on shareholders. CEO Joseph Dowling emphasized that this move will alleviate downward pressure on CVSI stock, allowing the company to focus on enhancing shareholder value and expanding its PlusCBD™ branded product line. This strategic decision was detailed in a Current Report on Form 8-K filed with the SEC on August 25, 2022. For more information, visit www.cvsciences.com.
CV Sciences reported its first-quarter 2022 financial results, recording revenue of $4.4 million, down 8% from $4.8 million in Q1 2021. The gross margin dropped to 26.0% compared to 32.4% in Q4 2021. However, the total cash balance increased to $2.4 million from $1.4 million at year-end 2021. The company launched several new OTC pain relief products and claimed $2.0 million in employee retention credits. Although sales volume increased 3%, it was offset by higher discounts, resulting in an operating loss reduction to $1.5 million.
CV Sciences (OTCQB:CVSI) will release its first quarter financial results on May 16, 2022, before market open. The company, known for manufacturing hemp CBD products, will hold a conference call at 7:00 a.m. PT (10:00 a.m. ET) to discuss the results. Investors can participate via phone or access a webcast available on their Investor Relations website.
CV Sciences operates in two segments: consumer products and drug development, with PlusCBD™ being a leading brand in the hemp-derived CBD market. The company adheres to Good Manufacturing Practices and supports product efficacy through clinical research.
CV Sciences reported a 2021 revenue of $20.0 million, down 18% from $24.4 million in 2020. The gross margin decreased to 43.0% from 45.1%, with a total cash balance of $1.4 million, down from $4.5 million. Despite these challenges, retail distribution grew to over 8,400 stores and operating losses reduced to $18.4 million. CV Sciences introduced several new products, including the clinical strength ProCBD™ line, aiming for future growth amid competitive pressures.
CV Sciences, a leading manufacturer of hemp CBD products, announced it will disclose its financial results for Q4 and full year 2021 on March 31, 2022, after market close. A conference call will take place at 1:30 p.m. PT (4:30 p.m. ET) on the same day, available via webcast on their Investor Relations website. Investors can listen live or access a replay through specific phone numbers provided. The company operates in two segments: consumer products for dietary supplements and drug development focused on CBD therapeutics, with products sold in over 8,400 retail locations across the U.S.
