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ORLANDO - Nutriband Inc. (NASDAQ:NTRB), a developer of transdermal pharmaceutical products with a current market capitalization of $61 million, announced today its new Associate Partnership with Charlotte FC, aiming to enhance the visibility of its brands, including AI Tape, which is produced in the Charlotte region. According to InvestingPro analysis, the company appears undervalued at its current trading price of $5.50, maintaining a strong liquidity position with a current ratio of 4.96x. This collaboration ties in with the company’s local manufacturing efforts through its Pocono subsidiary in North Carolina.
The partnership is also set to promote Nutriband’s AVERSA platform technology, which is under development as a potential abuse deterrent patch platform for chronic pain management. AVERSA technology is designed to prevent abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.
Nutriband’s focus is on the development of transdermal pharmaceutical products, with its lead product being an abuse deterrent fentanyl patch that incorporates AVERSA technology. The company is engaged in securing patent protection, financing for product development and clinical testing, and regulatory approvals, including FDA approval to market products in the United States.
The company has cautioned that its forward-looking statements, such as the development of its abuse deterrent fentanyl transdermal system and other proposed products, involve risks and uncertainties. These include the challenges of obtaining necessary financing, regulatory approvals, and the risks associated with an undercapitalized developing company.
Nutriband’s latest move to partner with Charlotte FC is part of its strategy to build brand awareness and align with its local manufacturing presence. This information is based on a press release statement from Nutriband Inc.
In other recent news, Nutriband Inc. has made notable advancements with its AVERSA™ technology, securing a trademark from the US Patent and Trademark Office. This development is a significant step for Nutriband as it works on AVERSA™ Fentanyl, a fentanyl transdermal system designed to deter abuse, and is preparing to seek FDA approval. The company has partnered with Kindeva Drug Delivery to further develop this technology, sharing costs and milestone payments. Analysts from Health Advances project that AVERSA™ Fentanyl could reach peak annual sales between $80 million and $200 million in the U.S.
Additionally, Nutriband has received a Notice of Allowance from the USPTO for a patent on its abuse deterrent technology, which is set to bolster its intellectual property rights in the U.S. This patent is part of Nutriband’s strategy to enhance the safety profile of transdermal drugs susceptible to abuse. In corporate governance news, Nutriband shareholders approved key proposals at the recent Annual Meeting, including the election of directors and the amended stock option plan. The engagement of Sadler, Gibb & Associates, LLC as the independent audit firm for fiscal year 2024 was also ratified. These developments reflect Nutriband’s ongoing efforts to innovate and strengthen its market position.
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