Nutriband reports Q1 revenue up 63% y/y at $667K

The company states: “Nutriband (NTRB) is continuing to expand its kinesiology tape output through its Pocono Pharma subsidiary, with a continued focus on penetration pricing to gain a foothold with some of the industry’s largest brands. The Company produced a record first quarter reporting revenue of $667,000, up 63% % YOY. Pocono manufactured products continue to roll out into prominent retail locations nationwide, including Target, Walmart, Walgreens and CVS and the increasing Pocono revenue stream is key to the company’s focus on shareholder value. Progress continues on the development of AVERSA Fentanyl, with the Company formalizing an exclusive product development partnership with Kindeva Drug Delivery. The formalized partnership with Kindeva Drug Delivery reflects a commitment to shared development costs in exchange for milestone payments, enabling Nutriband to advance its innovative transdermal drug delivery solutions towards regulatory approval and commercialization. AVERSA Fentanyl has the potential to be the world’s first abuse-deterrent opioid patch designed to deter the abuse and misuse and reduce the risk of accidental exposure of transdermal fentanyl patches. AVERSA Fentanyl has the potential to reach peak annual US sales of $80M to $200M.”