Nutriband (NASDAQ: NTRB), a developer of transdermal pharmaceuticals and technology, is reporting its first-quarter 2024 revenues. According to the report, the company saw revenues of $408,532 while also strengthening its balance sheet with the completion of an $8.4 million private placement involving existing and new shareholders; shares for the placement were offered at $4 per share. Nutriband also reported a cash position of $8,347,739. In the report, the company observed that it been focused on using penetration pricing to gain a foothold. “Meanwhile in Q1, the company has made further advancements in its development of AVERSA, and it is maintaining a target of Q1 2025 for its NDA filing with the FDA,” the press release stated. “The company recently updated shareholders about its development pathway for AVERSA Fentanyl reminding shareholders that its NDA will be primarily based on a single phase 1 Human Abuse Potential clinical study with no phase 2 or phase 3 clinical trials required prior to submission. AVERSA Fentanyl has the potential to be the first and only abuse deterrent patch approved anywhere in the world. AVERSA Fentanyl is estimated to have the potential to reach peak annual sales of $80–$200 million, according to a market analysis report from Health Advances. AVERSA Buprenorphine, which is the company’s second application for AVERSA, has been further estimated to reach peak annual sales of up to $130 million.”
To view the full press release, visit https://ibn.fm/ggwEu
About Nutriband Inc.
Nutriband is primarily engaged in the development of a portfolio of transdermal pharmaceutical products. The company’s lead product under development is an abuse-deterrent fentanyl patch incorporating its AVERSA(TM) abuse-deterrent technology. AVERSA technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion and accidental exposure of drugs with abuse potential. For more information about the company, please visit www.Nutriband.com.
NOTE TO INVESTORS: The latest news and updates relating to NTRB are available in the company’s newsroom at https://ibn.fm/NTRB
About MissionIR
MissionIR (“MIR”) is a specialized communications platform with a focus on assisting IR firms with syndicated content to enhance the visibility of private and public companies within the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MIR is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MIR brings its clients unparalleled recognition and brand awareness.
MIR is where breaking news, insightful content and actionable information converge.
For more information, please visit www.MissionIR.com
Please see full terms of use and disclaimers on the MissionIR website applicable to all content provided by MIR, wherever published or re-published: https://www.MissionIR.com/Disclaimer
MissionIR
Los Angeles, CA
www.MissionIR.com
310.299.1717 Office
Editor@MissionIR.com
MissionIR is powered by IBN
