Nutriband CEO Gareth Sheridan Seeks Nomination in Upcoming Irish Presidential Election
Rhea-AI Summary
Nutriband (NASDAQ:NTRB) announced that CEO Gareth Sheridan will temporarily step down for three months to pursue candidacy in the Irish Presidential election. Chairman and President Serguei Melnik will serve as interim CEO during September and October 2025.
The company recently received FDA meeting approval for AVERSA Fentanyl, their abuse-deterrent opioid patch. The product has projected peak annual US sales potential of $80-200 million and is protected by patents in 46 countries. The company remains on track for its planned NDA filing in 2026.
Positive
- FDA granted meeting request for AVERSA Fentanyl abuse-deterrent patch
- AVERSA Fentanyl has potential peak US sales of $80-200 million annually
- Strong intellectual property protection with patents in 46 countries
- Experienced interim CEO with 20+ years of capital markets expertise
Negative
- Temporary leadership change as CEO steps aside for three months
- Potential disruption in executive continuity during critical pre-NDA period
News Market Reaction
On the day this news was published, NTRB declined 4.46%, reflecting a moderate negative market reaction. Argus tracked a trough of -4.0% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $76M at that time.
Data tracked by StockTitan Argus on the day of publication.
Sheridan will temporarily step aside as CEO to enter the Irish Presidential Election.
Company Chairman and President, Serguei Melnik will take over as interim CEO over the course of the campaign and election period.
ORLANDO, Fla., Aug. 11, 2025 (GLOBE NEWSWIRE) -- Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW) has announced that Company CEO, Gareth Sheridan will be stepping aside from his role for three months to enter the Irish Presidential election. The Nomination Hearings followed by the Election will take place over the course of September and October.
During this period, Co-Founder and Chairman, Serguei Melnik will take over the responsibilities of CEO and guide the company through the final 2025 framework towards the target NDA filing in 2026. Mr. Melnik, a corporate strategy expert will continue to execute the Company’s strategic development and focus on shareholder value. Mr. Melnik has over 20 years experience in Capital markets.
"I have made the decision to temporarily step aside as CEO following the support and encouragement I have received asking me to put my name forward for the election for President of Ireland. Rest assured, Nutriband is in very safe hands. While most often we talk about AVERSA as our big opportunity, it is our tight knit team that is really our core asset. I look forward to watching Nutriband continue to hit its planned targets between now and December," said Mr. Sheridan.
The FDA recently granted Nutriband’s meeting request for AVERSA Fentanyl
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
The AVERSA™ abuse deterrent technology is protected by a broad international intellectual property portfolio with patents issued in 46 countries including the United States, Europe, Japan, Korea, Russia, China, Canada, Mexico, and Australia.
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1 Health Advances Aversa Fentanyl market analysis report 2022
About AVERSA™ Abuse-Deterrent Transdermal Technology
Nutriband's AVERSA™ abuse-deterrent transdermal technology incorporates aversive agents into transdermal patches to prevent the abuse, diversion, misuse, and accidental exposure of drugs with abuse potential. The AVERSA™ abuse-deterrent technology has the potential to improve the safety profile of transdermal drugs susceptible to abuse, such as fentanyl, while making sure that these drugs remain accessible to those patients who really need them. The technology is covered by a broad intellectual property portfolio with patents granted in the United States, Europe, Japan, Korea, Russia, China, Canada, Mexico, and Australia.
About Nutriband Inc.
We are primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse-deterrent fentanyl patch incorporating our AVERSA™ abuse-deterrent technology. AVERSA™ technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.
The Company's website is www.nutriband.com. Any material contained in or derived from the Company's websites or any other website is not part of this press release.
Forward-Looking Statements
Certain statements contained in this press release, including, without limitation, statements containing the words ‘'believes," "anticipates," "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. The Company's actual results may differ materially from those anticipated in its forward-looking statements as a result of a number of factors, including those including the Company's ability to develop its proposed abuse-deterrent fentanyl transdermal system and other proposed products, its ability to obtain patent protection for its abuse technology, its ability to obtain the necessary financing to develop products and conduct the necessary clinical testing, its ability to obtain Federal Food and Drug Administration approval to market any product it may develop in the United States and to obtain any other regulatory approval necessary to market any product in other countries, including countries in Europe, its ability to market any product it may develop, its ability to create, sustain, manage or forecast its growth; its ability to attract and retain key personnel; changes in the Company's business strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general economic and market conditions and risks generally associated with an undercapitalized developing company, as well as the risks contained under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Form S-1, Forms 10-K’s and Forms 10-Q’s, and the Company's other filings with the Securities and Exchange Commission. Except as required by applicable law, we undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise after the date hereof.
Contact Information:
Nutriband Inc.
Phone: 407-377-6695
Email: info@nutriband.com
SOURCE: Nutriband Inc.
FAQ
Why is Nutriband (NTRB) CEO Gareth Sheridan stepping down?
Who will be Nutriband's interim CEO during Sheridan's absence?
What is the market potential for Nutriband's AVERSA Fentanyl patch?
What is the status of Nutriband's AVERSA Fentanyl development?
How many countries have granted patents for Nutriband's AVERSA technology?
