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NutriBand Inc. (NASDAQ:NTRB), a pharmaceutical company whose stock has surged nearly 99% over the past six months according to InvestingPro data, disclosed Wednesday that its board of directors approved an amendment to its Articles of Incorporation to authorize a new class of non-voting Series A Convertible Preferred Stock. The amendment, approved on July 9, allows for the issuance of up to 2,788,678 shares of Series A Preferred Stock with a par value of $0.001 per share, according to a statement based on a Securities and Exchange Commission filing.
The board also approved a preferred stock dividend, issuing one share of Series A Preferred Stock for every four shares of common stock owned by shareholders. The record date for this dividend is set for July 25, 2025. This marks a significant development for the company, which InvestingPro data shows has not previously paid dividends to shareholders.
The Series A Preferred Stock will become convertible into common stock on a one-for-one basis at the option of the holder, following the date when the U.S. Food and Drug Administration approves the commercial sale of NutriBand’s transdermal pharmaceutical products based on its AVERSA abuse deterrent transdermal technology. Holders who do not convert their shares will be eligible for dividends as declared by the board, both on the Series A Preferred Stock and on common stock.
The amendment to the Articles of Incorporation was filed with the Nevada Secretary of State on July 14, 2025.
NutriBand’s common stock and warrants trade on the Nasdaq Stock Market under the symbols NTRB and NTRBW, respectively. The company is incorporated in Nevada and is based in Orlando, Florida.
This summary is based on a statement from NutriBand’s recent SEC filing.
In other recent news, Nutriband Inc. has declared a 25% preferred stock dividend for its shareholders, with distribution scheduled for August 5. This move comes as the company nears the commercialization of its AVERSA Fentanyl product. Nutriband also announced a new U.S. patent for its AVERSA abuse-deterrent technology, expanding its intellectual property portfolio across 46 countries. The AVERSA Fentanyl patch, projected to have peak annual U.S. sales between $80 million and $200 million, is expected to be the first opioid pain patch with abuse-deterrent properties. The company has partnered with Kindeva Drug Delivery to commercialize this product and plans to launch AVERSA Buprenorphine next, with projected peak sales of $70 million to $130 million. Nutriband’s subsidiary, Pocono Pharma, has experienced strong revenue growth in its contract manufacturing services. The company is also preparing for a pivotal Human Abuse Liability clinical trial for AVERSA Fentanyl and plans to file an Investigational New Drug application with the FDA. These developments highlight Nutriband’s strategic efforts to address drug misuse and enhance shareholder value.
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