Kaival Brands (NASDAQ: KAVL), a company focused on developing products into mature, dominant brands, benefited from a Feb. 1 judicial stay on an FDA-issued marketing denial order (“MDO”). Granted by the Eleventh Circuit Court of Appeal, the stay enables Bidi Vapor to continue marketing its electronic nicotine delivery systems (“ENDS”) product, distributed by Kaival, while lawsuits remain active. Kaival expects the legal decision, which followed on from the FDA’s decision to deny and oust thousands of products from the marketplace through its new premarket tobacco product application (“PMTA”) process, will result in a rebounding of BIDI(R) Stick sales. A recent article reads, “Following its original receipt of the FDA PMTA request in 2018, Bidi Vapor embarked on a near-two-year effort to assemble its PMTAs at a total cost of around $6.6 million. The company would go on to file 285,000 pages of information, ‘including health risk and toxicological data, marketing restrictions and scientific literature reviews,’ and demonstrated [the] products provide substantial benefits in terms of lower relative health risks [compared with smoking],’ ahead of the deadline.”
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About Kaival Brands Innovations Group Inc.
Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. The company’s vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. Kaival Brands is the exclusive global distributor of all products currently manufactured by Bidi(R) Vapor LLC, a leader in disposable electronic nicotine delivery systems (“ENDS”), and the company is poised to expand internationally. For more information, visit www.KaivalBrands.com.
NOTE TO INVESTORS: The latest news and updates relating to KAVL are available in the company’s newsroom at http://ibn.fm/KAVL
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