NTRB stock rocketed 138% higher on December 31, 2021, after the company announced it was issued a full patent by the Korean Intellectual Property Office.
Nutriband Inc. Issued Full Patent from the Korean Intellectual Property Office for Its “Abuse and Misuse Deterrent Transdermal System” Application
ORLANDO, FL / ACCESSWIRE / December 31, 2021 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), has announced that the Korean Intellectual Property Office (KIPO) has fully issued its patent titled “Abuse and Misuse Deterrent Transdermal System” which is related to the Company’s lead technology AVERSA™.
The patent underpins 4p Therapeutics’ abuse deterrent transdermal system, AVERSA, which uses taste aversion to address the primary routes of abuse for opioid based transdermal patches.
The KIPO issued a prior notice of allowance in December 2020.
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.
Nutriband Inc. Announces $1 Million Share Repurchase Authorization
On December 29, 2021, 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 December 29, 2021, the Company had 7,773,962 shares of common stock outstanding.
Nutriband Inc. Initiates Plans to Offer Topical Lotion Contract Manufacturing Services
On December 21, 2021, Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW) announced plans to start offering contract manufacturing services for liquid based topical, transdermal and cosmetic product’s. This follows the recent certification as a cGMP facility following a full cGMP audit. The audit was conducted specifically in relation to the certification of Pharmaceutical OTC GMP, 21 CFR Part 211/210.
“Our goal is to continue to expand our contract manufacturing capabilities to enhance the Company’s revenue opportunities,” said Gareth Sheridan, CEO. “Adding liquid based options such as lotions and cosmetics to our contract capabilities is core to this goal and in line with opportunities and relationships we have developed heading into 2022.”
Nutriband Inc. Receives cGMP Certification for Manufacturing Subsidiary
On December 13, 2021, Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW) announced that its manufacturing subsidiary Active Intelligence, has received cGMP certification following a full cGMP audit. The audit was conducted specifically in relation to the certification of Pharmaceutical OTC GMP, 21 CFR Part 211/210.
“Investing in our manufacturing capabilities and qualifying as a cGMP certified facility is a key milestone to our goal of growing our contract manufacturing services both nationally and internationally’ commented CEO Gareth Sheridan.” “This certification will allow us to increase our product offerings from a contract manufacturing standpoint and open new market opportunities”.
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📈 NTRB Stock Technical Analysis
The short-term trend is negative, but the long-term trend is still positive. NTRB is currently trading in the middle of its 52-week range. The S&P500 Index however is currently trading near new highs, so NTRB is lagging the market. There is support at 6.79 from a horizontal line in the daily time frame. The technical rating of NTRB is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when NTRB stock is a good entry.