SAN DIEGO - CV Sciences, Inc. (OTCQB: OTC:CVSI), a leading consumer wellness company, has introduced new cannabidiol (CBD) infused chews designed for pets. These products, +PlusCBD™ Pet Hip and Joint Health Chews and +PlusCBD™ Pet Calming Care Chews, are now available for purchase.
The company's new offerings aim to address common health issues in dogs, such as joint pain and anxiety. The Hip and Joint Health Chews combine THC-free hemp extract with ingredients like Glucosamine and Turmeric to aid pets with mobility issues. Meanwhile, the Calming Care Chews incorporate Chamomile and L-Theanine to help alleviate stress and anxiety in pets.
These pet wellness treats are the result of extensive research and are backed by a safety study from the National Animal Supplement Council (NASC), a leading advocate for companion animal health. The products have been independently tested to confirm their purity, potency, and compliance with NASC's quality standards.
Joseph Dowling, CEO of CV Sciences, highlighted the importance of the NASC safety study, stating that it "further validates CBD supplements to promote the health and wellness of our family pets." He emphasized the company's dedication to providing safe and effective products for pet owners.
The release of the pet chews follows CV Sciences' previous launches of various wellness products for human consumers in 2023. The company continues to expand its product catalog, reinforcing its commitment to offering plant-based health and wellness alternatives for both humans and pets.
CV Sciences, recognized for its +PlusCBD™ brand and Cultured Foods™ line, operates in both business-to-business (B2B) and business-to-consumer (B2C) markets, distributing its products across the United States. The information presented in this article is based on a press release statement from CV Sciences, Inc.
InvestingPro Insights
As CV Sciences, Inc. (OTCQB: CVSI) expands its product offerings with new CBD-infused pet chews, the company's financial metrics and market performance provide additional context for potential investors. According to the latest InvestingPro data, CV Sciences holds a market capitalization of $6.39 million, illustrating its position within the smaller-cap segment of the market. This can often signal higher potential for growth, albeit with increased volatility and risk.
The company's Price-to-Earnings (P/E) ratio stands at a modest 7.12, indicating that its shares could be trading at a lower earnings multiple compared to some of its peers. This is further highlighted by the adjusted P/E ratio for the last twelve months as of Q3 2023, which is remarkably low at 1.34, suggesting that the market may be undervaluing the company's earnings potential.
In terms of performance, CV Sciences has seen a significant return over the last week with a 7.91% increase in its share price, as well as a strong return over the last month, with a 13.04% price total return. These figures could point to a growing investor confidence in the company's market position and its recent product launches.
For those interested in further insights, there are additional InvestingPro Tips available, which include observations such as the company's cash position outweighing its debt, and its liquid assets exceeding short-term obligations. These aspects could be particularly appealing to investors looking for companies with sound financial health.
Investors who are intrigued by these metrics and would like to explore more tips, including the company's revenue valuation multiples and profitability projections, can find a total of 11 InvestingPro Tips at https://www.investing.com/pro/CVSI. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable insights to inform your investment decisions.
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