Sign up
Pharma Capital

CV Sciences determines its hemp-derived CBD extract meets FDA safety standards

The FDA allows companies to determine certain safety standards using an outline of its formal process
Marijuana plant and CBD oil in a glass jar
CV Sciences develops cannabidiol‐based pharmaceuticals and consumer products

CV Sciences Inc (OTCQB:CVSI) was a top gainer on the North American Marijuana Index after determining its CBD extract met US Food and Drug Administration safety standards.

The company self-affirmed that its line of hemp-derived CBD gold extracts, known as its PlusCBD Oil Gold Formula, met GRAS, or “generally recognized as safe” standards.

Shares of the company jumped nearly 19% to US$5.39 in Tuesday afternoon trading.

READ: Auxly Cannabis shares rocket as it advances $4mln to Lotus Ventures to complete growing facility

The 1958 Food Additive Amendment allows for companies to determine safety on their own using an outline of the FDA’s GRAS notification process without receiving formal approval from the regulatory body, according to the FDA’s website.

“We are committed to building consumer confidence and trust in the safety and quality of our products, supported by scientific evidence. This milestone significantly advances our leadership in this space and provides us with opportunities to broaden consumer access to our products, while removing any doubts on the safety and benefits of our products,” said CEO Joseph Dowling in the company’s press release.

CV Sciences develops cannabidiol‐based pharmaceuticals and consumer products. Its product line includes CBD in various forms, including oil drops, soft gel capsules, moisturizers and extra virgin olive oil spray.

Register here to be notified of future CVSI Company articles
View full CVSI profile View Profile
View All

Related Articles

© biotech Capital 2018

Biotech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed biotech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Biotech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Biotechnology market.