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/d3xh1
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
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