NutriBand Shareholders Approve Key Proposals at Annual Meeting

ORLANDO, FL - NutriBand Inc. (NASDAQ:NTRB), a developer of transdermal pharmaceutical products with a current market capitalization of $80 million, announced the results of its Annual Meeting of Stockholders held on January 23, 2025. According to InvestingPro data, the company has demonstrated remarkable market performance with a 189% return over the past year, despite generating revenue of just $2.02 million in the last twelve months. Shareholders voted on several key proposals, including the election of directors and approval of the company’s amended stock option plan.

At the meeting, all seven director nominees were elected to serve one-year terms on the company’s board. The directors, Gareth Sheridan, Serguei Melnik, Mark Hamilton, Stefani Mancas, Radu Bujoreanu, Irina Gram, and Sergei Glinka, were elected with a majority of votes cast by shareholders.

Additionally, shareholders ratified the engagement of Sadler, Gibb & Associates, LLC as NutriBand’s independent audit firm for the fiscal year 2024. The approval signifies continued confidence in the audit firm’s role in overseeing the company’s financial reporting.

The company’s 2024 Amended and Restated Stock Option Plan was also approved, which is designed to incentivize and retain executives and employees through equity compensation. InvestingPro analysis suggests the stock is currently undervalued, with eight additional key insights available to subscribers, including detailed metrics on the company’s financial health and growth prospects.

In advisory votes, shareholders expressed their preference on executive compensation, commonly known as "say on pay," and the frequency of such votes. The results indicated shareholder approval of executive compensation and a preference for annual advisory votes on the matter.

The meeting, which took place in Orlando, Florida, saw a turnout of 67.06% of total outstanding shares, with the remaining 32.94% not voting. The votes were cast both in person and by proxy.

NutriBand’s CEO, Gareth Sheridan, signed off on the SEC filing dated January 29, 2025, which disclosed the detailed results and formalized the outcomes of the Annual Meeting.

The decisions made at the Annual Meeting are expected to guide NutriBand’s strategic direction and governance for the upcoming year. While the company maintains a healthy liquidity position with a current ratio of 4.96 and operates with moderate debt levels, it faces profitability challenges with negative EBITDA of $5.75 million in the last twelve months. The company is known for its work in the orthopedic, prosthetic, and surgical appliances and supplies industry, with a focus on transdermal delivery systems.

This report is based on a press release statement.

In other recent news, Nutriband has been assigned an Outperform rating by Noble Capital, which has also set a price target of $13 for the company’s stock. This development comes as the company prepares for its upcoming Phase 1 clinical trial, which is expected to demonstrate sufficient abuse deterrence. This could potentially pave the way for Nutriband to file a New Drug Application using the 505(b)(2) regulatory pathway in the latter half of 2025.

Noble Capital’s analysts have factored in a standard 10-month review period for the New Drug Application, with the potential for a Priority Review to reduce the timeline to six months. If these expectations are met, Nutriband could receive drug approval in the second half of 2026. The firm’s valuation of Nutriband is based on projected earnings per share (EPS) of $1.45 for the fiscal year 2027, which has been discounted at a rate of 30% per year.

The analysts’ positive outlook hinges on the successful outcome of Nutriband’s clinical trial and subsequent regulatory processes. They anticipate significant earnings growth by FY2027, despite the company’s current unprofitability. Nutriband is also expected to see a 92% revenue growth for FY2025, according to analysts tracked by InvestingPro. These are recent developments that may be of interest to investors.

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