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ORLANDO - Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products with a market capitalization of $74 million, announced Monday that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its AVERSA™ abuse deterrent technology. The company’s stock has shown remarkable strength, delivering a 161% return over the past year, according to InvestingPro data. This notice, dated February 3, 2025, indicates that the USPTO will issue a patent for the application titled "Abuse and Misuse Deterrent Transdermal Systems," after completing administrative procedures.
The forthcoming patent is set to bolster Nutriband’s intellectual property rights in the U.S. for its portfolio of abuse deterrent transdermal products, which utilize the company’s proprietary AVERSA™ technology. This technology is designed to be integrated into transdermal patches, aiming to prevent abuse, diversion, misuse, and accidental exposure to drugs with potential for abuse, such as opioids and stimulants.
Nutriband’s leading product in development, AVERSA™ Fentanyl, is an abuse deterrent fentanyl transdermal system. It is on track to potentially become the first abuse deterrent pain patch in the market. The AVERSA™ technology incorporates a proprietary aversive agent coating that deters oral abuse and accidental exposure through taste aversion.
The company’s abuse deterrent technology is protected internationally, with patents issued in 46 countries including major markets such as the United States, Europe, Japan, and China. According to a market analysis report by Health Advances in 2022, AVERSA Fentanyl could achieve peak annual sales in the U.S. ranging from $80 million to $200 million. While current revenue stands at $2.02 million, InvestingPro analysis suggests the stock is trading below its Fair Value, with analysts setting a $13 price target. InvestingPro subscribers have access to 8 additional key insights about NTRB’s growth potential.
Nutriband’s focus is on the development of its transdermal pharmaceutical products portfolio, with the AVERSA™ technology at the forefront. The company’s aim is to improve the safety profile of transdermal drugs susceptible to abuse while maintaining access for patients in need.
This announcement is based on a press release statement from Nutriband Inc. The company has cautioned that there are risks and uncertainties that may affect the actual results of product development, including obtaining patent protection, necessary financing, clinical testing, FDA approval, and market competition. While the company maintains a healthy current ratio of 4.96 and operates with minimal debt, it reported negative EBITDA of $5.75 million in the last twelve months. Nutriband has not provided any additional comments on the expected issuance date of the patent or the anticipated commercial launch of AVERSA™ Fentanyl. For deeper insights into NTRB’s financial health and growth prospects, visit InvestingPro.
In other recent news, NutriBand Inc. has been the subject of significant developments. During the company’s Annual Meeting of Stockholders, several key proposals were approved, including the election of seven directors for one-year terms and the ratification of the 2024 Amended and Restated Stock Option Plan. The audit firm Sadler, Gibb & Associates, LLC was also reconfirmed as NutriBand’s independent audit firm for fiscal year 2024, reflecting shareholders’ continued trust in the firm’s oversight of NutriBand’s financial reporting.
In addition to these internal changes, external analysts have shown optimism about NutriBand’s future. Noble Capital has initiated coverage on NutriBand with an Outperform rating and a price target of $13.00. This rating is based on the firm’s anticipation of NutriBand’s upcoming Phase 1 clinical trial and the potential for a New Drug Application in the second half of 2025.
These recent developments, including the shareholders’ decisions and the analysts’ outlook, are expected to shape NutriBand’s strategic direction and governance in the coming year. All these facts are based on recent press releases and analyst notes, providing an update on NutriBand’s latest activities.
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