Charlottes Web Stock Price, News & Analysis

Charlotte's Web (CWBHF) has announced the launch of Brightside™, a new line of precision-formulated, hemp-derived THC gummies. The product line features TiME INFUSION® rapid onset technology, delivering effects in 5-15 minutes, significantly faster than traditional edibles. The initial launch includes three variants: Rest & Relax, Focus & Flow, and Relieve & Ease, each containing micro-dosed THC combined with CBD, CBC, and CBG cannabinoids.

CEO Bill Morachnick will participate in the Benzinga Cannabis Capital Conference on June 10th, discussing industry sustainability in a panel titled "The Hemp Industry Divide: Quick Cash vs. Sustainable Growth." The launch aligns with growing consumer demand for low-dose THC edibles and targets health-conscious consumers seeking measured, intentional experiences.

Charlotte's Web (CWBHF) reported Q4 2024 financial results with revenue of $12.7M, down from $15.9M in Q4 2023, but showing sequential quarterly growth throughout 2024. The company achieved a Q4 Adjusted EBITDA of $0.3M, a $6.8M improvement from Q4 2023.

Key operational highlights include reducing operating expenses by $22.4M, launching a new e-commerce platform, and expanding retail distribution to 847 Walmart stores and Walmart.com. The company also entered new partnerships with Chewy.com and plans to launch on Amazon.com.

Full-year 2024 revenue was $49.7M, down 21.4% from 2023. Net loss for 2024 was $29.8M ($0.19 per share). The company ended 2024 with $22.6M in cash reserves. Notable developments include the launch of new products like functional mushroom gummies and CBD gel caps, plus FDA approval for DeFloria's Phase 2 clinical trial for autism spectrum disorder treatment.

Charlotte's Web (TSX: CWEB) (OTCQX: CWBHF), the market leader in CBD hemp extract wellness products, has announced it will release its 2024 fourth quarter and year-end financial results before market open on March 19, 2025.

The company will host a conference call to discuss the results at 11:00 A.M. Eastern Time on the same day. Participants can join through three methods: automated callback registration, direct dial-in (1-646-357-8785 or 1-800-836-8184), or live webcast.

A replay of the earnings call will be available until March 26, 2025, accessible via phone (1-646-517-4150 or 1-888-660-6345) using conference ID 90317#, or through the company's investor relations website section.

Charlotte's Web (TSX: CWEB) (OTCQX: CWBHF) announced that DeFloria has received FDA clearance to proceed with Phase 2 clinical trials for AJA001 Oral Solution, a treatment for autism spectrum disorder (ASD) symptoms. The drug candidate uses Charlotte's Web's proprietary full-spectrum CBD hemp extract from patented cultivars.

DeFloria, a collaboration between Charlotte's Web and Ajna BioSciences PBC, will evaluate AJA001's safety, tolerability, and effectiveness among adolescents and adults with ASD in the Phase 2 trial. The study builds on Phase 1 results and will inform the design of Phase 3 clinical trials, which are required for FDA drug approval.

The development represents a strategic expansion from Charlotte's Web's consumer wellness products into regulated medicine, potentially addressing an unmet medical need in ASD treatment.

DeFloria has received FDA clearance for its Investigational New Drug (IND) application for AJA001, an oral cannabinoid drug targeting Autism Spectrum Disorder (ASD). The company plans to initiate a Phase 2 clinical trial by mid-2025, enrolling 60 patients aged 13-29 years for a 12-week study.

The ASD market is valued at nearly $4 billion in the U.S., with a >4% CAGR. Currently, only two approved treatments exist, both being atypical antipsychotics with significant side effects and poor patient compliance.

AJA001 was developed through collaboration between Ajna BioSciences and Charlotte's Web, leveraging Charlotte's Web's decade of observational data and proprietary hemp genetics. The company also plans to initiate a Phase 2 open-label pediatric study in Australia in 2025.

Charlotte's Web Holdings (TSX: CWEB) (OTCQX: CWBHF) announced updates on DeFloria 's Phase 1 clinical trial results for AJA001, a treatment targeting autism spectrum disorder (ASD) symptoms. The findings, presented by Dr. Marcel Bonn-Miller at the American College of Neuropsychopharmacology Annual Meeting on December 11, 2024, were described as promising. DeFloria is a joint venture between AJNA BioSciences and Charlotte's Web, focusing on botanical pharmaceutical development.

Charlotte's Web Holdings reported Q3 2024 financial results with revenue of $12.6 million, down from $14.3 million in Q3 2023. The company saw a net loss of $5.8 million ($0.04 per share), improved from a $15.2 million loss in Q3 2023. Notable developments include expansion into Walmart with CBD topicals in 827 stores, launch of new Functional Mushroom Gummies, and partnership with Tilray for Canadian market entry. SG&A expenses decreased 36.2% to $12.7 million, reflecting cost reduction initiatives. The company maintains $24.6 million in cash and $33.5 million in working capital as of September 30, 2024.

ONE HEMP, a coalition of CBD industry leaders, has welcomed the introduction of the Cannabinoid Safety and Regulation Act (CSRA) by Senator Ron Wyden. This bill is seen as a critical step towards regulating CBD as a dietary supplement, addressing the regulatory gap left by the 2018 Farm Bill. The legislation aims to establish FDA-level standards for CBD products, ensuring consumer safety and industry growth.

The move comes amid concerns over intoxicating synthetic cannabinoids being marketed as CBD, leading to restrictive state actions. The CSRA is expected to set national standards for CBD product manufacture and sale, differentiating between synthetic, intoxicating CBD and non-intoxicating, full-spectrum hemp-derived CBD. Industry leaders, including Charlotte's Web (TSX: CWEB) (OTCQX: CWBHF), have been instrumental in providing expertise to policymakers throughout this process.