By M. Marin
Revenue growth as company moves AVERSA forward…
Nutriband Inc. (NTRB:NASDAQ), an emerging a biopharma and medical device company that is developing a portfolio of transdermal pharmaceutical products, continues to move its product portfolio forward and gain traction with customers, with revenue up more than 50% year-over-year in FY 2022 (the company’s fiscal year ends in January) and revenue of $477,922 in 1Q23, compared to $433,488 in 1Q22. Overall, transdermal drug delivery systems have gained traction in recent years, including the widespread use of nicotine and pain patches, partially due to their convenience and effectiveness. Transdermal drug delivery methods are less intrusive than many other delivery mechanisms and can be absorbed evenly through the skin into the blood system.
… and supports CDC updates
The company’s initial focus is on solutions to help mitigate the abuse of opioids such as fentanyl and other addictive drugs, including buprenorphine and methylphenidate. The need to address the opioid epidemic in the U.S. and globally creates opportunities for solutions such as those that Nutriband is developing. The CDC is in the process of updating its 2016 guidelines for prescribing opioids for chronic pain and is requesting public feedback on the update process. NTRB has announced its support for the updates.
The company’s lead product is an abuse deterrent fentanyl transdermal system, incorporating its abuse deterrent technology, AVERSA®. AVERSA is a patented technology and NTRB is optimistic about its prospects. NTRB has hit several milestones to move AVERSA Fentanyl, a Fentanyl transdermal patch that leverages its AVERSA™ technology, towards regulatory approval and commercialization. A recently signed feasibility agreement with Kindeva Drug Delivery, a leading global contract development and manufacturing organization (CDMO) that manufactures branded and generic transdermal patches, is expected to accelerate the commercialization of AVERSA Fentanyl, as AVERSA technology will be incorporated into Kindeva’s commercial transdermal manufacturing process. Kindeva was formerly known as 3M Drug Delivery Systems, as part of the larger 3M organization. It was spun out in 2020. Kindeva has “over 50 years of experience” and notes that it developed “the first drug-in-adhesive transdermal patch.”
New books, while laying the groundwork to launch the AI Tape…
The company has also leveraged M&A to expand its development product portfolio and efforts. In 2020, NTRB acquired Pocono Coated Products, which is a transdermal, topical, cosmetic and nutraceutical business. Pocono Pharmaceutical’s subsidiary Active Intelligence (AI) produces kinesiology therapeutic tape that is used to support muscles and joints, generally in the sports fields by athletes to minimize pain associated with movement. AI’s kinesiology tape has transdermal and topical properties. Last month, NTRB announced today it has booked about $234,000 in contract manufacturing orders through Pocono Pharma.
Separately, AI recently registered as a Class I medical device manufacturer with the U.S. Food and Drug Administration (FDA) to manufacture and distribute the AI tape to compete in the kinesiology tape market. The company believes the FDA medical device manufacturing registration sets the stage for domestic commercial sales of the AI tape through proprietary branded sales and / or via white label agreements.
DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks SCR provides and Zacks SCR receives quarterly payments totaling a maximum fee of up to $40,000 annually for these services provided to or regarding the issuer. Full Disclaimer HERE.