NTRB stock surged more than 16% higher on October 12, 2021, after the company announced an exclusive manufacturing agreement for Diocheck.
Nutriband Inc. Signs Exclusive Manufacturing Agreement for Diocheck(TM) Visual COVID-19 Antibody Indicator Patch
On October 12, 2021, Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a company engaged in the development of pharmaceutical products, contract research and development services and the manufacture of transdermal products, today announced that it has signed an exclusive manufacturing agreement with San Diego-based Diomics for its Diocheck™ technology, a simple way for individuals to monitor for the presence of antibodies to SARS-CoV-2 (COVID-19) over an extended period of time.
The goal of the Diocheck patch is to monitor the critical gap between when a person receives a COVID-19 vaccine and when a protective level of antibodies is circulating in the body, which current reports suggest could take several weeks. It could also signal when the antibodies stimulated by a vaccine have declined and the person needs a booster.
‘This exclusive contract with Diomics to manufacture Diocheck™ allows Nutriband and our contract manufacturing subsidiary, Pocono Pharma, to showcase our capabilities with innovative new patch technologies,” said Gareth Sheridan, CEO of Nutriband.
Based on Diomics’ proprietary usage of an FDA-approved material, Diomat™ bioresorbable polymer, Diocheck detects and reports within 24 to 36 hours whether a person has developed a circulating level of COVID-19 specific antibodies. A positive response causes a change in skin color that is visible through the Diocheck skin patch, which resembles a nicotine patch and is expected to be effective for up to 14 days. Diomics has applied to the FDA for approval of the Diocheck™ device.
The Diocheck™ Transdermal Test is intended to be used only as an aid in monitoring SARS-CoV-2 infections or vaccine efficacy. The user places the patch on the inside of either forearm for 24 hours, and then removes the patch and monitors that area of the skin for the next 24-36 hours. If the user has not been vaccinated and has a positive response in the form of a small induration and/or erythema on the skin, they are directed to contact a medical professional for additional testing to confirm a potential SARS-CoV-2 infection. If the user has been vaccinated and does not have a positive response in the form of a small induration and/or erythema on the skin, the user is directed to contact a medical professional for additional testing to confirm efficacy of their vaccine.
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 ® technology. Aversa is an abuse deterrent transdermal technology that incorporates aversive agents to prevent the abuse, diversion, misuse and accidental exposure of drugs with abuse potential, specifically opioids.
The Company’s website is www.nutriband.com.
Nutriband Inc.’s AVERSA(R) technology receives Notice of Allowance from United States Patent and Trademark Office
On October 4, 2021, Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its patent application 16/707,547, entitled ‘Abuse and Misuse Deterrent Transdermal Systems’. The Patent, specifically relates to the company’s AVERSA® technology focused on deterring the abuse and misuse of opioid based transdermal pain patches, specifically Fentanyl.
The news follows the company’s initial listing on the NASDAQ Capital Market and pricing of a $6.6 Million underwritten offering, each on October 1, 2021. The net proceeds from the underwritten offering shall be used primarily for the clinical development of, AVERSA.
NTRB Stock Nutriband Inc Signs Exclusive Manufacturing Agreement
Daily Stock Watch gives his analysis on NTRB stock on October 12, 2021.
NTRB Stock Technical Analysis
The technical rating of NTRB stock is bad and it also does not present a quality setup at the moment.