Nutriband Increases Existing Credit Line To $5M Supporting The Continued Development Of Its AVERSA Platform Towards FDA Submission
Portfolio Pulse from Happy Mohamed
Nutriband Inc. (NASDAQ:NTRB) (NASDAQ:NTRBW) has increased its existing credit line to $5 million to support the continued development and regulatory submission process for its patented lead product platform, AVERSA™ Fentanyl. The company is targeting FDA submission for AVERSA™ Fentanyl in the first half of 2024. AVERSA™ Fentanyl, which combines Nutriband’s proprietary AVERSA™ abuse-deterrent transdermal technology and Kindeva Drug Delivery’s FDA-approved transdermal fentanyl patch system, is estimated to reach peak annual US sales of $80M - $200M.
July 14, 2023 | 1:21 pm
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POSITIVE IMPACT
Nutriband Inc. has increased its credit line to $5 million to support the development of AVERSA™ Fentanyl. This could potentially boost the company's financial stability and accelerate the product's development, which is expected to generate significant revenue.
The increase in Nutriband's credit line indicates a strong financial commitment to the development of AVERSA™ Fentanyl. This could potentially accelerate the product's development and regulatory submission process, which in turn could lead to significant revenue generation, positively impacting the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Nutriband Inc. has increased its credit line to $5 million to support the development of AVERSA™ Fentanyl. This could potentially boost the company's financial stability and accelerate the product's development, which is expected to generate significant revenue.
The increase in Nutriband's credit line indicates a strong financial commitment to the development of AVERSA™ Fentanyl. This could potentially accelerate the product's development and regulatory submission process, which in turn could lead to significant revenue generation, positively impacting the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100