Nutriband reports Q2 EPS (15c) vs. (11c) last year

Reports Q2 revenue $442,830 vs. $655,928 last year. The company said, “The Company reported a strong cash position at quarter end, reinforcing its ability to advance the development of its lead product, AVERSA Fentanyl, with an NDA submission targeted for the first half of 2025. Nutriband is expanding its kinesiology tape contract manufacturing services through its Pocono Pharma subsidiary, with a focus on penetration pricing to gain a foothold with some of the industry’s largest brands, including KT Tape and Fit For Life Group. Products are rolling out to prominent retail locations nationwide, including Target, Walmart, Walgreens and CVS. Progress continues on the development of AVERSA Fentanyl, with the Company maintaining its goal of submitting an NDA to the FDA in Q1/Q2 2025. Nutriband recently updated shareholders on its development pathway, emphasizing that the NDA will primarily rely on data from a single phase 1 Human Abuse Potential study. Importantly, no Phase 2 or Phase 3 clinical trials will be required before to submission. If approved, AVERSA Fentanyl could become the first and only abuse-deterrent transdermal patch available globally. AVERSA Fentanyl is estimated to have the potential to reach peak annual sales of $80-$200M, according to a market analysis report from Health Advances. AVERSA Buprenorphine, which is the company’s second application for AVERSA, is projected to reach peak annual sales of up to $130M. As of July 31, 2024, Nutriband’s cash reserves stand at $6.75M, supporting the Company’s ongoing development and commercialization efforts for AVERSA Fentanyl. The Company’s total assets are valued at $13.63M, with stockholders’ equity amounting to $12.5M.”