olivLaw · US equity research
Nutriband Inc. NTRB
Orthopedic, Prosthetic & Surgical Appliances & Supplies · SIC 3842 · Vertical: Orthopedic, Prosthetic & Surgical Appliances & Supplies (SIC 3842)
Nutriband Inc. (NTRB) develops transdermal pharmaceutical products, mainly the AVERSA patch with anti-abuse technology for fentanyl, and earns modest revenue from contract manufacturing and research services through its subsidiaries Pocono Pharmaceuticals and 4P Therapeutics. In fiscal 2026 revenue was 2036651 USD and the net loss was 8229632 USD, so progress on financing and the FDA path matters greatly for the company.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Nutriband Inc. (NTRB) stock was 6.08 USD (−3.34% on the day), with market capitalisation 73.9 m USD, beta 0.91, 52-week range 2.81–8.99 USD. Latest reported quarter (Q2 2027): revenue of 437.5 k USD (−29.7% YoY), net income of -880.6 k USD, diluted EPS -0.07 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 46.9
- neutral
- Bollinger (20, 2)
- 5.65 – 6.70
- in the lower half of the band · %B 0.41 · band width 17.1%
- SMA 50 / 200
- 6.44 / 4.41
- mixed trend
- MACD (12, 26, 9)
- -0.07 / -0.07
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −18.6% | −1.1% | −17.5 pp | — |
| 3 months | +111.1% | −0.5% | +111.6 pp | — |
| 6 months | +53.1% | +4.4% | +48.8 pp | — |
| Year to date | +33.9% | +12.3% | +21.6 pp | — |
| 1 year | +5.2% | +13.5% | −8.4 pp | −2.5% |
| 3 years | +184.1% | +76.4% | +107.7 pp | −4.2% |
| 5 years | +32.5% | +63.7% | −31.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 31 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 645.8 k | 642.4 k | 667.4 k | 622.5 k | 346.1 k | 400.7 k | 433.4 k | 437.5 k |
| Cost of revenue | 454.8 k | 356.4 k | 415.5 k | 465.6 k | 277.6 k | 311.8 k | 236.6 k | 255.6 k |
| Gross profit | 191.0 k | 285.9 k | 252.0 k | 156.9 k | 68.5 k | 88.9 k | — | — |
| Research & development | 880.8 k | 489.9 k | 683.4 k | 562.6 k | 457.1 k | 188.0 k | 247.3 k | 322.2 k |
| SG&A | 737.1 k | 1.8 m | 982.1 k | 1.6 m | 3.5 m | 921.8 k | 1.2 m | 750.3 k |
| Operating income | -1.4 m | -5.6 m | -1.4 m | -2.0 m | -3.9 m | -1.0 m | -1.3 m | -890.6 k |
| Depreciation & amortisation | 73.1 k | 72.9 k | 57.5 k | 57.4 k | 43.0 k | 35.9 k | 34.2 k | 33.3 k ≈ |
| Interest expense | 4.0 k | 3.7 k | 2.5 k | 5.8 k | 5.5 k | 5.3 k | 5.0 k | 4.9 k |
| Pre-tax income | -1.4 m | -5.5 m | -1.4 m | -2.0 m | -3.9 m | -968.1 k | -1.2 m | -880.6 k |
| Net income | -1.4 m | -5.5 m | -1.4 m | -2.0 m | -3.9 m | -968.1 k | -1.2 m | -880.6 k |
| Diluted EPS | -0.12 | -0.50 ≈ | -0.12 | -2.12 | -0.32 | -0.08 ≈ | -0.10 | -0.07 |
| Operating cash flow | -1.0 m ≈ | -1.2 m | -1.3 m | -1.3 m ≈ | -1.8 m ≈ | -731.8 k | -563.1 k | -585.0 k ≈ |
| Capex | 47.0 k ≈ | 0 | 5.3 k | 0 ≈ | 0 ≈ | 0 | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | 245.3 k | 370.6 k | 943.7 k | 2.1 m | 2.1 m | 2.1 m | 2.0 m |
| Revenue YoY | unavailable | unavailable | +51.1% | +154.6% | unavailable | +0.3% | +2.6% | −4.8% |
| Net income | -2.7 m | -3.3 m | -2.7 m | -2.9 m | -4.5 m | -5.5 m | -10.5 m | -8.2 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | -0.51 | -0.53 | -0.69 | -0.99 | -2.58 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | -1,358.1% | -734.3% | -310.8% | -215.6% | -263.0% | -489.9% | -404.1% |
| Free cash flow | unavailable | -1.1 m | unavailable | unavailable | -3.1 m | -3.6 m | -4.7 m | -5.1 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2026 · 31 Jan 2026
- Cash
- 4.6 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 6.7 m USD
- Total assets
- 7.5 m USD
- Debt / equity
- unavailable
- Current ratio
- 6.36x
- ROE
- -125.6%
- ROA
- -109.6%
- FCF margin
- -252.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 370.6 k | 943.7 k | 2.1 m | 2.1 m | 2.1 m | 2.0 m | SEC (XBRL)· 29 Apr 2026verified |
| Cost of revenue | 549.1 k | 627.4 k | 1.3 m | 1.2 m | 1.4 m | 1.5 m | SEC (XBRL)· 29 Apr 2026verified |
| Gross profit | -178.5 k ≈ | 316.2 k | 750.4 k | 862.1 k | 743.3 k | 566.3 k | SEC (XBRL)· 29 Apr 2026verified |
| Research & development | — | — | 982.2 k | 2.0 m | 3.1 m | 1.9 m | SEC (XBRL)· 29 Apr 2026verified |
| SG&A | 1.8 m | 2.9 m | 3.9 m | 3.8 m | 4.3 m | 7.0 m | SEC (XBRL)· 29 Apr 2026verified |
| Operating income | -2.0 m | -2.6 m | -4.5 m | -4.9 m | -10.3 m | -8.3 m | SEC (XBRL)· 29 Apr 2026verified |
| Depreciation & amortisation | 72.2 k | 160.1 k | 330.1 k | 287.7 k | 285.1 k | 193.8 k | SEC (XBRL)· 29 Apr 2026verified |
| EBITDA | -1.9 m ≈ | -2.4 m ≈ | -4.1 m ≈ | -4.6 m ≈ | -10.0 m ≈ | -8.1 m ≈ | SEC (XBRL)· 29 Apr 2026derived |
| Interest expense | 73.4 k | 280.7 k | 8.3 k | 75.8 k | 21.4 k | 22.5 k | SEC (XBRL)· 29 Apr 2026verified |
| Pre-tax income | -2.7 m | -2.9 m | -4.5 m | -5.5 m | -10.5 m | -8.2 m | SEC (XBRL)· 29 Apr 2026verified |
| Net income | -2.7 m | -2.9 m | -4.5 m | -5.5 m | -10.5 m | -8.2 m | SEC (XBRL)· 29 Apr 2026verified |
| Diluted EPS | — | -0.51 | -0.53 | -0.69 | -0.99 | -2.58 | SEC (XBRL)· 29 Apr 2026verified |
| Weighted average diluted shares | — | 5.8 m | 8.5 m | 8.0 m | 10.6 m | 11.6 m | SEC (XBRL)· 29 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 10.2 k | 152.0 k | 2.0 m | 492.9 k | 4.3 m | 4.6 m | SEC (XBRL)· 29 Apr 2026verified |
| Receivables | 12.8 k | 109.3 k | 113.0 k | 148.6 k | 73.8 k | 118.4 k | SEC (XBRL)· 29 Apr 2026verified |
| Inventories | — | 52.8 k | 229.3 k | 168.6 k | 212.0 k | 118.0 k | SEC (XBRL)· 29 Apr 2026verified |
| Current assets | 43.2 k | 314.2 k | 2.7 m | 1.0 m | 4.8 m | 5.0 m | SEC (XBRL)· 29 Apr 2026verified |
| Property, plant & equipment, net | 111.0 k | 1.1 m | 897.7 k | 774.9 k | 695.1 k | 567.3 k | SEC (XBRL)· 29 Apr 2026verified |
| Goodwill | 1.7 m | 7.5 m | 5.0 m | 5.0 m | 1.7 m | 1.7 m | SEC (XBRL)· 29 Apr 2026verified |
| Intangibles (excl. goodwill) | 286.9 k | 1.0 m | 780.4 k | 667.3 k | 261.1 k | 200.4 k | SEC (XBRL)· 29 Apr 2026verified |
| Total assets | 2.2 m | 9.9 m | 9.5 m | 7.5 m | 7.5 m | 7.5 m | SEC (XBRL)· 29 Apr 2026verified |
| Accounts payable | 771.9 k | 940.6 k | 534.7 k | 680.1 k | 698.8 k | 502.7 k | SEC (XBRL)· 29 Apr 2026verified |
| Short-term debt | — | — | — | 2.0 m | — | — | SEC (XBRL)· 01 May 2024verified |
| Current liabilities | 2.0 m | 2.6 m | 748.6 k | 999.1 k | 982.8 k | 784.3 k | SEC (XBRL)· 29 Apr 2026verified |
| Total liabilities | 2.0 m | 2.8 m | 883.4 k | 1.1 m | 1.0 m | 868.4 k | SEC (XBRL)· 29 Apr 2026verified |
| Equity | 175.4 k † | 7.1 m † | 8.6 m † | 6.4 m † | 6.4 m † | 6.7 m † | SEC (XBRL)· 29 Apr 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -894.5 k | -297.1 k | -3.0 m | -3.5 m | -4.6 m | -5.1 m | SEC (XBRL)· 29 Apr 2026verified |
| Capex | — | — | 79.3 k | 51.8 k | 92.0 k | 5.3 k | SEC (XBRL)· 29 Apr 2026verified |
| Free cash flow | — | — | -3.1 m ≈ | -3.6 m ≈ | -4.7 m ≈ | -5.1 m ≈ | SEC (XBRL)· 29 Apr 2026derived |
| Investing cash flow | — | 67.0 k | -79.3 k | -51.8 k | -92.0 k | -5.3 k | SEC (XBRL)· 29 Apr 2026verified |
| Financing cash flow | 430.3 k | 371.9 k | 160.1 k | 2.1 m | 8.5 m | 5.4 m | SEC (XBRL)· 29 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 73.9 m USD
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -430.4% | 18 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -0.7% | 0 (on a fixed band) | 25% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -339.3x | 0 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 4.2x | 100 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -4.9% | 0 (on a fixed band) | 25% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial18/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
NUTRIBAND INC. (NTRB). Latest full fiscal year: 2026; data up to 2026-07-31.
Figures computed from the financial statements: revenue 2.0 m USD in 2026; YoY growth -4.8%; net margin -430.4%; ROE -100.7%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 4.2x
What contradicts it
- Net margin: -430.4%
- Revenue CAGR 3Y: -0.7%
- Interest coverage: -339.3x
- FCF yield: -4.9%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Orthopedic, Prosthetic & Surgical Appliances & Supplies (SIC 3842) · same industry (4-digit SIC) · compared with 23 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ISRGIntuitive Surgical, Inc. | 167.1 bn | 58.3 | 18.0% | 25.5% | +20.5% | −16% / +55% |
| EWEdwards Lifesciences Corporation | 57.1 bn | 56.2 | 9.7% | 15.3% | +11.5% | +15% / +47% |
| SNNSmith & Nephew plc | 28.5 bn | 45.3 | 11.8% | 10.1% | +6.1% | −2% / +25% |
| STESTERIS plc | 24.2 bn | 30.0 | 11.4% | 13.3% | +8.7% | −7% / +23% |
| ZBHZimmer Biomet Holdings, Inc. | 20.8 bn | 27.9 | 6.0% | 9.0% | +7.2% | +13% / −5% |
| ALGNAlign Technology, Inc. | 11.6 bn | 24.0 | 11.9% | 11.8% | +0.9% | +12% / −23% |
| MSAMsa Safety Inc | 6.8 bn | 22.8 | 22.1% | 15.0% | +3.7% | +10% / +2% |
| ESTAEstablishment Labs Holdings Inc. | 2.0 bn | — | -175.3% | -15.8% | +27.1% | −3% / +161% |
| ENOVEnovis Corp | 1.4 bn | — | -54.3% | -48.0% | +6.7% | −19% / −51% |
| CDRECadre Holdings, Inc. | 1.3 bn | 33.8 | 11.6% | 5.6% | +7.5% | −28% / −4% |
| AVRAnteris Technologies Global Corp. | 596.4 m | — | -75.1% | -4,619.3% | −29.2% | +49% / unavailable |
| COCHEnvoy Medical, Inc. | 549.6 m | — | — | -11,304.8% | +7.1% | +749% / +216% |
| ZJYLJin Medical International Ltd. | 483.7 m | 309.0 | 4.1% | 5.8% | −12.0% | −39% / −87% |
| SMTISanara Medtech Inc. | 297.0 m | — | -147.7% | -29.2% | +19.0% | +55% / −0% |
| INGNInogen, Inc. | 191.6 m | — | -13.1% | -6.9% | +3.9% | +2% / +24% |
| LAKELakeland Industries, Inc. | 88.7 m | — | -19.6% | -14.0% | +15.2% | −41% / −39% |
| NTRBNutriband Inc. | 73.9 m | — | -100.7% | -430.4% | −4.8% | +5% / +184% |
| APTAlpha Pro Tech, Ltd. | 58.6 m | 14.1 | 6.6% | 6.8% | +2.3% | +25% / +17% |
| CLGNCollPlant Biotechnologies Ltd | 54.2 m | — | -117.6% | -484.6% | +360.4% | −81% / −92% |
| MYOMyomo, Inc. | 51.5 m | — | -123.8% | -33.5% | +25.7% | +46% / −58% |
| MLSSMilestone Scientific Inc. | 29.2 m | — | -121.7% | -44.0% | +4.0% | +6% / −61% |
| LFWDLifeward Ltd. | 17.2 m | — | -225.6% | -141.3% | −14.1% | −13% / −90% |
| CUPRCuprina Holdings (Cayman) Limited | 14.1 m | — | -1,115.0% | -9,366.7% | +9.2% | −64% / unavailable |
| BBLGBone Biologics Corporation | 1.2 m | — | -47.5% | — | 0.0% | −77% / −98% |
1- and 3-year price returns: for NTRB from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Apr 2026; since then the company filed 10-Q (04 Sept 2026), 10-Q (11 Jun 2026).
In brief
Nutriband Inc. (NTRB) develops transdermal pharmaceutical products, mainly the AVERSA patch with anti-abuse technology for fentanyl, and earns modest revenue from contract manufacturing and research services through its subsidiaries Pocono Pharmaceuticals and 4P Therapeutics. In fiscal 2026 revenue was 2036651 USD and the net loss was 8229632 USD, so progress on financing and the FDA path matters greatly for the company 1.
SWOT
Strengths
- The AVERSA technology has a clear anti-abuse positioning, supported by a US patent granted in 2023 1.
- The exclusive partnership with Kindeva reduces the financial and technical burden of manufacturing development 1.
- FDA feedback received in autumn 2025 gives a clearer direction for fentanyl development 1.
Weaknesses
Opportunities
- If FDA accepts the 505(b)(2) route, fentanyl development could follow a shorter path than a full approval application 1.
- Extending the AVERSA technology to buprenorphine and methylphenidate could open new markets 1.
- Higher demand at Pocono, which management expects for the following year, could strengthen contract manufacturing revenue 1.
Risks
- Dependence on FDA approvalhigh
Without approval the products cannot be marketed in the US, and the process can take many years with additional requirements at each stage 1.
- Funding requirementhigh
The company has used operating cash and relies on share issuance and warrant exercises to finance its activity, which could be difficult in adverse market conditions 1.
- Sourcing and tariffsmedium
Raw materials obtained abroad may become more expensive because of tariffs, which could affect projected margins 1.
- Post-launch product safetymedium
Unexpected adverse events or product recalls could damage reputation and the ability to market products 1.
- Royalty and contract obligationslow
The 4P acquisition agreement requires royalty payments on intellectual property revenue, and service contracts can be terminated by either party at any time 1.
Investment thesis
What would need to be true (bull case)
- If fentanyl development progresses as planned, the anti-abuse technology could become a competitive advantage in a market with real safety needs 1.
- The Kindeva partnership and FDA feedback could reduce technical risk and speed the development timeline 1.
- Rising demand in contract manufacturing could stabilise revenue while pharmaceutical programmes advance 1.
What would break the thesis
- If clinical or regulatory timelines slip, the company could run out of cash before generating product revenue 1.
- Current revenue is modest and the net loss is large, which could force shareholder dilution through new share issuances 1.
- The macroeconomic environment and tariffs could affect access to capital and production costs 1.
What to watch
- Filing of the IND for the AVERSA Fentanyl human abuse potential study2027
- Revenue trend at Pocono Pharmaceuticals and any increase in demand as announcednext 10-K
- Cash level and how operations are financednext 10-K
- Progress of the Kindeva partnership and milestone payments2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Apr 2026; since then the company filed 10-Q (04 Sept 2026), 10-Q (11 Jun 2026).
The business
The company, incorporated in Nevada, is headquartered in Orlando, Florida, and operates mainly in the United States 1. Its development portfolio rests on the proprietary AVERSA technology, which incorporates aversive agents into a transdermal patch to deter abuse of opioids and stimulants 1. Current revenue comes from two subsidiaries, Pocono Pharmaceuticals (contract manufacturing) and 4P Therapeutics (contract research and development) 1.
The lead product is AVERSA Fentanyl, developed with Kindeva Drug Delivery, a global CDMO, under an exclusive development agreement whose addendum was signed in February 2025 1. The proposed regulatory route is a 505(b)(2) NDA, and in September 2025 the company received FDA feedback on its chemistry, manufacturing and controls plans before an IND filing for a human abuse potential study 1. Beyond fentanyl, the company plans AVERSA Buprenorphine and AVERSA Methylphenidate, both at early stages and dependent on funding 1.
Pocono's contract manufacturing, at its Cherryville, North Carolina facility, remained relatively constant in fiscal 2026, and management expects higher demand in the following year 1. 4P Therapeutics recorded no revenue in the year as its focus shifted 1.
Segments
Pocono Pharmaceuticals (contract manufacturing)
It was the only meaningful source of revenue in fiscal 2026, providing manufacturing services to health, wellness and OTC customers, while gross profit fell because of lower margins on tape sales 1.
Market context
The target market is opioid and stimulant patches, where the company says as much as 70% of transdermal fentanyl abuse occurs through oral, buccal or inhaled routes that AVERSA technology could deter 1. The consumer transdermal market the company started in was estimated in 2018 at a very large size, but it is no longer the current focus 2.
The company has no approved product yet, so market access depends on FDA approval, a possible commercial partnership and its ability to raise capital 1. For a new product the approval process can take many years and cost considerably more than current estimates 1.
Trends
- Opioid and fentanyl crisistailwind
Fentanyl abuse and overdose remain a public health concern, which raises interest in patches with anti-abuse protection; if regulators emphasise such solutions, the company's products could benefit 1.
- Stricter regulatory requirementsheadwind
FDA may impose REMS programs, post-approval testing and labelling restrictions, which could delay launch and raise commercialisation costs 1.
- Tariffs on importsheadwind
US tariffs on foreign goods could raise the cost of raw materials for products under development, potentially affecting projected margins 1.
- CDMO development partnershipsmixed
The Kindeva collaboration and outsourced manufacturing can reduce internal spending but make the company dependent on partners for programme timing and costs 1.
Competitive position
The sources do not detail direct competitors, but the company notes generic fentanyl patches already on the market without anti-abuse properties, and that new products could emerge at any time 1. Competition also includes alternative treatments and other products targeting the same indications 1.
In contract manufacturing, Pocono competes with other transdermal and topical producers, and in research 4P Therapeutics competes with organisations offering similar services to pharmaceutical and device customers 1. The sources do not name competitors, so no names or tickers can be confirmed.
- Generic transdermal fentanyl manufacturers
Generic fentanyl patches without abuse-deterrent properties are already on the market and could compete for the same prescriptions 1.
- Kindeva Drug Delivery
The main development and manufacturing partner, which also operates in drug-device patch products and could be a competitor in that space 1.
- Other transdermal patch contract manufacturers
Companies offering similar services to health and wellness clients, not identified in the source 1.
- Early-stage clinical research service providers
Organisations competing with 4P Therapeutics for short-term clinical and preclinical studies 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report23 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report04 Sept 2026
- Current report22 Jun 2026Material agreement · Financial statements and exhibits
- Quarterly report11 Jun 2026
- Annual report29 Apr 2026
- Current report07 Apr 2026Regulation FD disclosure · Financial statements and exhibits
- Current report13 Feb 2026Regulation FD disclosure · Financial statements and exhibits
- Current report03 Feb 2026Shareholder vote · Financial statements and exhibits
- Current report30 Dec 2025Regulation FD disclosure · Financial statements and exhibits
- Proxy statement19 Dec 2025
Sources
- [1] Form 10-K, fiscal year ended 2026-01-31 · SEC / Nutriband Inc. · 29 Apr 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Nutriband Inc. · 15 May 2018
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.