Nutriband (NASDAQ: NTRB), a company focused on transdermal pharmaceutical products, has raised approximately $1.75 million through the exercise of 272,671 warrants at a strike price of $6.43. The warrants expired on September 30 without extension, leaving Nutriband with no remaining tradable warrants. The proceeds are earmarked primarily to support the remaining clinical development of AVERSA Fentanyl and the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for marketing approval.
AVERSA Fentanyl is being developed as a potential first-of-its-kind opioid patch with abuse-deterrent properties. If approved, it could address a significant unmet need in pain management while mitigating risks of abuse, misuse, diversion, and accidental exposure. According to a 2022 Health Advances market analysis, the product has estimated peak annual U.S. sales of $80 million to $200 million.
The funding comes at a critical juncture as Nutriband advances its lead product toward regulatory submission. The company’s proprietary AVERSA technology can be incorporated into any transdermal patch to deter abuse, making it a versatile platform. For more details on Nutriband’s pipeline and technology, visit www.nutriband.com.
Investors and stakeholders can stay updated on Nutriband’s progress through its newsroom at https://ibn.fm/NTRB. The full press release announcing the warrant exercises is available at https://ibn.fm/ZUBic.
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