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CURE Pharmaceutical First Quarter Revenue Quadruples to $1.5 million; Company Expands Clinical Pipeline to Include Psychedelics
OXNARD, Calif.--(BUSINESS WIRE)-- CURE Pharmaceutical Holding Corp. (OTC: CURR), a vertically integrated drug delivery and product development company,
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[{"type":"text","content":" OXNARD, Calif.--(BUSINESS WIRE)--\nCURE Pharmaceutical Holding Corp. (OTC: CURR), a vertically integrated drug delivery and product development company, reported its financial results and provided an operational update for the first quarter ended March 31, 2021.\n\nFirst Quarter 2021 and subsequent weeks highlights:\n\n\nTotal revenue rose more than 400% to $1.5 million compared with a year ago and gross profit rose in line with revenue growth.\n\n\nReceived approval for an Investigational New Drug (IND) application from the U.S. Food and Drug Administration and initiated clinical trials for CUREfilm Blue™, an oral soluble film of sildenafil citrate to treat erectile dysfunction.\n\n\nCommenced clinical development of novel delivery vehicles for certain psychedelic compounds including psilocybin, LSD, and MDMA, which are known to treat a variety of mental health disorders.\n\n\nThrough its Sera Labs subsidiary, launched a new line of Nutri-Strips™ vitamins and supplements that utilize CURE’s proprietary technology, and which are being sold direct to consumer, including via Amazon.\n\n\nSubsequent to quarter’s end, on May 6, 2021 received a $2.3 million payment related to a contract dispute that was resolved in April.\n\n\n“During the first quarter, we made good headway on a number of important fronts,” said Rob Davidson, CURE Pharmaceutical CEO. “We advanced the clinical development of two of our newest programs, one for an antiviral active pharmaceutical ingredient (API) in which we will apply our patented CUREfilm® delivery platform to optimize the delivery for certain indications. The other will explore the application of a known anti-seizure API to treat adult and pediatric patients who suffer from its debilitating effects. As part of our recently announced psychedelic and antiviral clinical development, these programs are exciting because they leverage existing safety and toxicity data. We believe this will allow us to more quickly develop orally bioavailable treatments and expand our specialty pharmaceutical pipeline. We look forward to talking with shareholders in more detail at our H.C. Wainwright investor presentation on June 17.\n\n“Additionally, our wellness subsidiary, Sera Labs, expanded its marketing strategy by launching a national TV, radio and digital marketing campaign in support of accelerating sales for our ...