US$20 million profit on partial sale of intellectual property assets and strong financial growth with projected acceleration: CURE Pharmaceutical: (stock symbol: CURR)
CURE PHARMACEUTICAL HOLDING CORP (OTCMKTS:CURR)
— Nancy Deutsch, CURR CEO
OXNARD, CA, USA, September 21, 2022 /EINPresswire.com/ — $20 million profit from partial intellectual property Asset sales and strong financial growth with projected acceleration: TREATMENT Pharmaceutical: (Reserve symbol: CURR)
Patented methods improve efficiency, safety and convenience for patients.
25,000 square feet, FDA, NSF registered® and a cGMP certified manufacturing facility.
Positive financial growth results in the second quarter with consistent revenue growth and strong margins.
Gross income for 2 sq.m. – $1.6 million, up 31.2% QoQ with acceleration expected in Q3 and Q4.
Profit in the amount of 20 million US dollars from the sale of part of the intellectual property for platform technologies.
CURE Pharmaceutical (OTCQB: CURR) is a fully integrated and progressive drug delivery company. The CURR team has extensive experience in the development and production of OTC, pharmaceutical and veterinary drugs, making quality and service their top priorities, earning the trust and respect of customers around the world.
CURR is the pioneering developer of CUREform™, a proprietary drug delivery platform that offers a range of unique immediate and controlled release drug delivery technologies designed to improve the efficacy, safety and patient experience for a wide range of active ingredients.
As a vertically integrated company, CURR operates 25,000 square feet of FDA, NSF registered space.® and a cGMP certified manufacturing facility, allowing it to partner with pharmaceutical and health companies around the world for private and white label production. CURR currently has partnerships in the US, China, Mexico, Canada, Israel and other European markets.
2nd quarter results with increased consistent revenue and strong margins
On September 2, CURR announced results for the quarter ended June 30, 2022.
Key operational highlights included the following:
Gross revenue of $1.6 million reflects an increase of 31.2% from the first to the second quarter, with further acceleration expected in the third and fourth quarters.
Gross margin has increased and we expect high margin sales to increase due to our new marketing initiatives.
Selling and administrative expenses (excluding share-based compensation) decreased by $3.4 million in the first half of 2022.
Cost cutting and operating leverage helped cut $1.0 million in operating losses in 2022 (excluding non-cash gains from equity valuations in 2021) even before the July asset sale, which will further reduce our current cash costs.
Shareholder value and communication plus upcoming events for investors
It is planned that CURR management will take part and hold face-to-face meetings with investors at the next conferences.
September 8 – National Investment Banking Association Investor Conference in Hollywood, Florida.
September 22 – Jeffreys Mental Health Innovation – Psychedelics Summit in New York.
October 25 – Main Event XV LD Micro Small Cap Conference in Los Angeles.
Rob Davidson New Chairman of the Board and Appointment of Rob Costantino Board Member and Chairman of the Audit Committee
On August 16, CURR announced the appointment of former CEO Rob Davidson as chairman of the board. In addition, CURR announced the appointment of Robert J. Costantino to its Board of Directors and he has also been named Chairman of the CURE Audit Committee. These appointments have brought years of financial experience with them, as well as a continuity that should add value to shareholders in the company’s initiatives and communications.
Rob Davidson was last Chief Executive Officer of CURR from July 2011 to July 2022 and served as Chairman of our Board of Directors until January 2019. He continues to serve at CURR in key roles in product development, new patent creation and ongoing negotiations on non-dilutive transactions transactions. Prior to his position at CURR, Robert Davidson served as CEO of InnoZen Inc., Gel Tech LLC and Bio Delivery Technologies Inc. and served on several corporate boards. Mr. Davidson has been responsible for the development of several drug delivery technologies and commercial brand expansion. He has worked with brands such as Zicam, Chloraseptic™, Suppress™, and Pediastrip™, a private label oral electrolyte thin film sold in major pharmacy chains.
New board member
On August 2, CURR announced the appointment of Gerald Bagg to the Board of Directors. This strategic addition adds depth to CPGs and ads and brings the number of board members to five.
An advertising industry veteran with over 45 years of experience, he is best known for pioneering the BRAND RESPONSE advertising approach to campaigns. He is the chairman and co-founder of Quigley-Simpson & Heppelwhite, Inc., a full-service advertising agency with over twenty years of experience specializing in strategic planning, marketing, media planning and purchasing, brand building, creative development, and production.
Sale of part of the intellectual property of CURR Platform Technology for 20 million US dollars.
On July 28, CURR announced that it had sold some of its platform technology intellectual property and related assets for a total of $20 million. CURR has used a portion of the proceeds to pay off certain debt obligations and the remainder will be used to expand its intellectual property portfolio and its health and beauty brands. In addition, CURR has retained the remaining proprietary technology of the platform, which it intends to monetize through commercialization of the technology or by licensing or selling the technology.
In a call on August 3, CURR management detailed their developments, including the following information:
CURR has retained exclusive rights to all Nutraceutical Nutri-Strip branded products and will continue to develop future products using this technology, including innovative intellectual property in the beauty and pet categories.
CURR owns an extensive family of patents in many areas, including CBD, cannabis, psychedelics, extracts, topicals and other Phyto Nutrient actives, and is actively pursuing international IP monetization transactions with stakeholders.
CURR will continue to invest in the clinical development of other molecule delivery technologies and is in preliminary discussions with other third parties.
CURR subsidiary The Sera Labs, Inc., a health and beauty product developer and marketer with a portfolio of brands and product lines including CBD-based and non-CBD-based, now has the working capital to restart and build the Seratopic Revolution line. The company recently shipped products to more than 1,200 Walmart (WMT) stores, as well as CVS and Bed, Bath and Beyond (BBBY), and hopes to actively build Seratopical Revolution into a global brand.
DISCLAIMER: Products mentioned do not contain THC and/or comply with the Farm Act 2018.
This article is for informational purposes only and is in no way a recommendation to buy or sell shares.
Nicole Kidman Skin Care Treatment: @Susan Yara’s Reactions and Thoughts | #SKIN CARE