California CBD manufacturer CV Sciences is starting a line of non-CBD products in an attempt to expand to more stores.
The San Diego-based company announced Wednesday it was launching “CV Acute,” a line of dietary supplements than don’t contain any cannabis-derived ingredients.
It’s the first of several products expected to be released as part of the company’s attempt to expand into wellness sales channels closed to CBD and other cannabinoids. The company didn’t elaborate on where the new line would be sold.
“This new non-CBD product line will open markets and sales channels … including major e-commerce retailers not currently accessible by CBD-based products,” CV Sciences said in a statement.
The company acknowledged that sales slipped in the last half of 2019 due to heavy competition and deep discounting to claim shelf space in the natural products category
CV Sciences trades on the over-the-counter markets under the ticker symbol CVSI. Its next quarterly earnings report is Aug. 6.