- Juva Life (JUVA) has given highlights of its financial and operating results for Q1 of 2022
- The company generated $1.16 million of revenue in Q1 2022, almost doubling the $0.58 million of revenue in the same period for the past year
- Increased sales in both its retail business operations as well as sales of wholesale bulk cannabis flower was the key driver of this this growth in revenue
- Net loss for the quarter decreased from $5.5 million in Q1 2021 to $3 million in Q1 2022
- Juva Life Inc. is a life science company with pharmaceutical research and development and consumer-facing operations in cannabis production and distribution
- Juva Life Inc. opened the day’s trading at $0.165 per share
Juva Life (JUVA) has given highlights of its financial and operating results for Q1 of 2022.
The company generated $1.16 million in Q1 2022, almost doubling the $0.58 million of revenue in the same period of the past year.
Increased sales in its retail business operations and wholesale bulk cannabis flower was a key driver of the company’s revenue growth.
Net loss for the quarter decreased from $5.5 million in Q1 2021 to $3 million in Q1 2022.
In the first quarter of 2022, Juva advanced JUVA-019, a proprietary novel compound that has previously demonstrated potent anti-inflammatory properties in phenotypic assays of inflammation, from discovery into preclinical development.
The company also advanced JUVA-041, a second proprietary novel compound into preclinical development, further substantiating the company’s discovery strategy and technology platform.
Juva Life has filed patents on both compounds and plans to advance them through the standardized clinical stage gate in the coming months.
In addition, Juva launched the Journal App that offers cannabis users a daily tracking solution to monitor how their cannabis consumption affects their personal health and wellness, furthering Juva’s mission of proving the therapeutic value of cannabis.
“As we move to the second half of the year, we are feeling extremely confident about our progress in both our life sciences research and cannabis operations,” said Doug Chloupek, CEO and Founder of Juva.
“Our research team is moving at an unparalleled pace in proving the potential therapeutic value of both of our lead candidates, JUVA-019 and JUVA-041, ” he added.
Juva Life Inc. is a life science company with pharmaceutical research and development and consumer-facing cannabis production and distribution operations.
Juva Life Inc. opened the day’s trading at $0.165 per share.