Nutriband Discloses $8.4M Private Placement Representing 2.10M Shares Of Common Stock At $4 Per Share; Company Targets 505(b)(2) NDA To FDA For Marketing Approval Of AVERSA Fentanyl In Q1 2025
Portfolio Pulse from Benzinga Newsdesk
Nutriband announced an $8.4M private placement for 2.10M shares at $4 each, targeting FDA approval for AVERSA Fentanyl by Q1 2025. The deal includes warrants with a $6.43 exercise price. Funds will support AVERSA's clinical development, aiming for peak annual sales of $80M-$200M.

April 19, 2024 | 11:25 am
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Nutriband's $8.4M private placement at $4/share includes warrants, funding AVERSA Fentanyl's FDA approval. Potential sales range $80M-$200M.
The private placement provides significant funding for AVERSA Fentanyl's clinical development and FDA submission, indicating strong future revenue potential. The inclusion of warrants at a higher exercise price suggests investor confidence in Nutriband's stock appreciation. This financial move is likely to be viewed positively by investors, potentially leading to a short-term increase in NTRB's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100