ORLANDO, FL - Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a company specializing in transdermal pharmaceutical products, announced the appointment of Sergei Glinka to its board of directors. Mr. Glinka, an Estonian businessman with extensive experience in European corporate leadership, joins the board following his $4.5 million investment in Nutriband during the company's recent private placement.
The investment by Mr. Glinka, which was part of an $8.4 million funding round in April, is expected to support the completion of the FDA approval process for Nutriband's AVERSA™ technology. AVERSA™, which is patented in 45 countries including all EU member states and the UK, is a transdermal patch designed to deter the abuse of fentanyl, a potent opioid.
CEO of Nutriband, Gareth Sheridan, expressed confidence that Glinka's strategic insights and familiarity with the European market will greatly benefit the company as it seeks to expand its innovative product range internationally. Glinka's current board memberships include roles at Automecanica Skb Property Srl., GST Investments OU, and TG Biochemicals Ltd.
The addition of Glinka comes at a time when Nutriband is poised to capitalize on the significant market potential of its AVERSA™ Fentanyl product, which is estimated to achieve peak annual US sales between $80 million and $200 million. These figures are based on a market analysis by Health Advances, set against the backdrop of a global opioid market valued at $22.8 billion in 2022.
Nutriband's portfolio focuses on the development of transdermal solutions that incorporate AVERSA™ technology to prevent drug abuse and misuse. The company's lead product under development is an abuse-deterrent fentanyl patch.
InvestingPro Insights
Nutriband Inc. (NASDAQ:NTRB) has recently been under the investor spotlight, and with the strategic addition of Sergei Glinka to its board, the company is reinforcing its potential in the transdermal pharmaceutical market. Here are some insights based on real-time data and InvestingPro Tips that highlight Nutriband's current financial health and stock performance:
The company's market capitalization stands at 55.35 million USD, reflecting investor valuation of the company's worth. Despite not being profitable over the last twelve months, analysts are anticipating sales growth in the current year, which could signal a positive outlook for Nutriband's revenue trajectory. This expected growth aligns with the company's efforts to complete the FDA approval process for its AVERSA™ technology, which could be a game-changer in combating opioid abuse.
InvestingPro Tips suggest that Nutriband has seen a significant return over the last week, with a 50.3% price total return, and a strong return over the last month at 25.94%. These metrics demonstrate the market's recent positive reaction to the company's developments, including the appointment of Mr. Glinka and progress with AVERSA™. Additionally, Nutriband operates with a moderate level of debt, which might provide it with the financial flexibility to navigate through its next phases of growth and product development.
For investors seeking a deeper dive into Nutriband's financials and stock performance, InvestingPro offers additional tips that could help in making informed decisions. Currently, there are 10 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/NTRB. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
It's important to note that while the company is trading at a high revenue valuation multiple and a high Price / Book multiple of 8.6, these figures should be considered in the context of the company's growth potential and the innovative nature of its product offerings. As always, investors should consider the risks associated with the pharmaceutical development industry when evaluating their investment options.
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