Nutriband Inc. Authorizes $1M Share Buyback Program

Rhea-AI Summary

Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW) has authorized a $1 million share buyback program for its common stock. As of September 16, 2024, the company had 11,106,185 outstanding common shares. Nutriband is primarily focused on developing transdermal pharmaceutical products, with its lead product being an abuse deterrent fentanyl patch incorporating the AVERSA™ abuse deterrence technology. The company maintains its target of submitting an NDA to the FDA in Q1/Q2 2025 for AVERSA Fentanyl. AVERSA™ technology can be integrated into any transdermal patch to prevent abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.

Positive

• Authorization of $1 million share buyback program, potentially increasing shareholder value
• Progress on AVERSA Fentanyl development, with NDA submission target maintained for Q1/Q2 2025
• Potential market opportunity for abuse deterrent transdermal patch technology

Negative

• None.

Insights

Financial Analyst

Nutriband's $1 million share buyback program is a strategic move that could potentially boost investor confidence. With 11,106,185 outstanding shares, this represents approximately 1.5% of the company's market cap, assuming a hypothetical share price of $6. While modest in scale, it signals management's belief that the stock may be undervalued.

The buyback could provide some support to the share price, especially if executed during market dips. However, investors should note that $1 million is a relatively small amount for a NASDAQ-listed company. The impact on earnings per share and other financial metrics will likely be minimal. More significant is the company's progress on AVERSA Fentanyl, with an NDA submission target in Q1/Q2 2025. This pipeline development remains the key value driver for Nutriband.

Medical Research Analyst

The ongoing development of AVERSA Fentanyl is important for Nutriband's future. The abuse-deterrent fentanyl patch addresses a critical need in pain management, potentially reducing the risks associated with opioid misuse. The targeted NDA submission in Q1/Q2 2025 provides a clear timeline for investors to monitor progress.

However, it's important to note that the FDA approval process can be lengthy and unpredictable, especially for novel drug delivery systems. Investors should be prepared for possible delays or additional data requests from the FDA. The success of AVERSA technology could have broader implications, as it's designed to be incorporated into various transdermal patches, potentially creating a platform technology with multiple applications in the pharmaceutical industry.

ORLANDO, FL / ACCESSWIRE / September 16, 2024 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), has announced a share repurchase program to buy back up to $1,000,000 of its common stock. As of September 16, 2024, the Company had 11,106,185 shares of common stock outstanding.

Progress continues on the development of AVERSA Fentanyl, with the Company maintaining its target of submitting an NDA to the FDA in Q1/Q2 2025

About Nutriband Inc.

We are primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse deterrent fentanyl patch incorporating our AVERSA^™ abuse deterrence technology. AVERSA™ technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.

The Company's website is www.nutriband.com. Any material contained in or derived from the Company's websites or any other website is not part of this press release.

Forward-Looking Statements

Certain statements contained in this press release, including, without limitation, statements containing the words ‘'believes,'' "anticipates," "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. The Company's actual results may differ materially from those anticipated in its forward-looking statements as a result of a number of factors, including those including the Company's ability to develop its proposed abuse deterrent fentanyl transdermal system and other proposed products, its ability to obtain patent protection for its abuse technology, its ability to obtain the necessary financing to develop products and conduct the necessary clinical testing, its ability to obtain Federal Food and Drug Administration approval to market any product it may develop in the United States and to obtain any other regulatory approval necessary to market any product in other countries, including countries in Europe, its ability to market any product it may develop, its ability to create, sustain, manage or forecast its growth; its ability to attract and retain key personnel; changes in the Company's business strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general economic and market conditions and risks generally associated with an undercapitalized developing company, as well as the risks contained under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Form S-1, Form 10-K for the year ended January 31, 2024 and Forms 10-Q, and the Company's other filings with the Securities and Exchange Commission. Except as required by applicable law, we undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise after the date hereof.

For more information, contact:

RedChip Companies, Inc.
Email: NTRB@Redchip.com
Phone: 1-407-644-4256

Address:

431 E Horatio Ave, Suite #100
Maitland, FL 32751
Nutriband Inc.

Phone: 407-377-6695
Email: info@nutriband.com

SOURCE: Nutriband, Inc.

View the original press release on accesswire.com

FAQ

What is the value of Nutriband Inc.'s (NTRB) authorized share buyback program?

Nutriband Inc. (NTRB) has authorized a $1 million share buyback program for its common stock.

How many outstanding common shares does Nutriband Inc. (NTRB) have as of September 16, 2024?

As of September 16, 2024, Nutriband Inc. (NTRB) had 11,106,185 outstanding common shares.

What is Nutriband Inc.'s (NTRB) lead product under development?

Nutriband Inc.'s (NTRB) lead product under development is an abuse deterrent fentanyl patch incorporating their AVERSA™ abuse deterrence technology.

When does Nutriband Inc. (NTRB) plan to submit an NDA to the FDA for AVERSA Fentanyl?

Nutriband Inc. (NTRB) maintains its target of submitting an NDA to the FDA for AVERSA Fentanyl in Q1/Q2 2025.