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Posted On: 04/19/2024 4:38:27 PM
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NetworkNewsBreaks – Nutriband Inc. (NASDAQ: NTRB) Enters Into Private Placement Agreements to Raise Funds for Development of AVERSA Fentanyl
Nutriband (NASDAQ: NTRB), a company engaged in the development of abuse-deterrent pharmaceutical products, has entered into definitive securities purchase agreements. The agreements are for the purchase and sale of up to 2,100,000 shares of common stock, with each share offered at $4 per share. According to the announcement, for each share of common stock purchased the investor receives a five-year warrant to purchase two shares of common stock; the exercise price for the warrants is $6.43 per share. The company anticipates using the funds from the private placement, which is expected to close on or about April 19, 2024, to complete the clinical development of its AVERSA(TM) Fentanyl, including the submission of a New Drug Application (“NDA”) with the U.S. Food and Drug Administration (“FDA”). Nutriband’s AVERSA Fentanyl could become the first-ever opioid patch with abuse-deterrent properties. “The completion of this private placement should provide sufficient funding through our NDA filing for AVERSA Fentanyl with the FDA for marketing approval,” said Nutriband CEO Gareth Sheridan in the press release. “This is a significant step for the company as we target this submission in Q1 2025.”
NOTE TO INVESTORS: The latest news and updates relating to NTRB are available in the company’s newsroom at http://nnw.fm/NTRB
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Nutriband (NASDAQ: NTRB), a company engaged in the development of abuse-deterrent pharmaceutical products, has entered into definitive securities purchase agreements. The agreements are for the purchase and sale of up to 2,100,000 shares of common stock, with each share offered at $4 per share. According to the announcement, for each share of common stock purchased the investor receives a five-year warrant to purchase two shares of common stock; the exercise price for the warrants is $6.43 per share. The company anticipates using the funds from the private placement, which is expected to close on or about April 19, 2024, to complete the clinical development of its AVERSA(TM) Fentanyl, including the submission of a New Drug Application (“NDA”) with the U.S. Food and Drug Administration (“FDA”). Nutriband’s AVERSA Fentanyl could become the first-ever opioid patch with abuse-deterrent properties. “The completion of this private placement should provide sufficient funding through our NDA filing for AVERSA Fentanyl with the FDA for marketing approval,” said Nutriband CEO Gareth Sheridan in the press release. “This is a significant step for the company as we target this submission in Q1 2025.”
NOTE TO INVESTORS: The latest news and updates relating to NTRB are available in the company’s newsroom at http://nnw.fm/NTRB
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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