Nutriband CEO Publishes Letter to Shareholders

Rhea-AI Summary

Nutriband (NASDAQ:NTRB / NTRBW) CEO Gareth Sheridan published a shareholder letter summarizing 2025 milestones and 2026 outlook. Key 2025 developments include a $5M sale for 90% of the Pocono subsidiary to EarthVision Bio, a 25% preferred stock dividend issued July 25, 2025 (convertible on FDA approval of AVERSA Fentanyl), and USPTO patent issuance No. 12,318,492 on June 3, 2025 covering abuse‑deterrent transdermal systems.

Other items: commercial manufacturing scale‑up completed in June 2025, a Type C meeting with FDA on CMC and pathway to a 505(b)(2) NDA, addition to four Russell indexes, and warrants from the 2021 IPO expiring Oct 1, 2026.

Positive

• $5M proceeds from sale of 90% Pocono subsidiary to EarthVision Bio
• USPTO patent No. 12,318,492 issued on June 3, 2025
• Completed commercial manufacturing scale‑up for AVERSA in June 2025
• Granted FDA Type C meeting for CMC and 505(b)(2) pathway
• Added to 4 Russell indexes in July 2025

Negative

• Outstanding 2021 IPO warrants remain until Oct 1, 2026, which management says may contribute to stock volatility
• Preferred stock dividend convertible on FDA approval could cause future dilution if converted

Key Figures

Pocono sale value $5M Sale of 90% of Pocono subsidiary to EarthVision Bio

Pocono stake sold 90% Interest in Pocono subsidiary sold to EarthVision Bio

Retained Pocono stake 10% Equity interest Nutriband keeps in new Pocono entity

Preferred stock dividend 25% Preferred stock dividend declared in July 2025

Preferred share ratio 1-for-4 One preferred share per four common shares held

Warrant expiry date Oct 1, 2026 Expiration of IPO warrants from 2021

Patent number 12,318,492 USPTO patent issued June 3, 2025 for AVERSA technology

FDA pathway 505(b)(2) NDA Regulatory pathway for AVERSA Fentanyl development

Market Reality Check

$4.54 Last Close

Volume Volume 143,366 is 2.18x the 20-day average of 65,651, indicating elevated trading interest ahead of this letter. high

Technical Shares at 4.68 are trading below the 200-day moving average of 6.51.

Peers on Argus

NTRB fell 15.98% while peers were mixed: STRO up 4.95%, CVM up 0.38%, OKYO flat, and QNCX and XBIT down 3.55% and 3.31% respectively, pointing to a stock-specific move rather than a sector-wide shift.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 29	Subsidiary sale	Positive	+16.0%	Sale of 90% Pocono for $5M to fund AVERSA Fentanyl development.
Dec 18	Tech LOI	Neutral	+3.0%	Non-binding LOI with Qvanta to explore advanced computing for R&D.
Dec 18	Program positioning	Positive	+3.0%	Positioning AVERSA Fentanyl vs illicit fentanyl with projected peak sales.
Nov 24	Conference presentation	Neutral	-2.1%	Noble Capital conference appearance highlighting AVERSA abuse-deterrent patch.
Oct 28	FDA meeting update	Positive	+10.4%	FDA confirmed 505(b)(2) NDA pathway and guidance for AVERSA Fentanyl.

Pattern Detected

Recent news has largely been followed by positive price reactions, especially around AVERSA Fentanyl regulatory and strategic updates.

Recent Company History

Over the last few months, Nutriband has focused on advancing AVERSA™ FENTANYL and optimizing its portfolio. On Oct 28, 2025, the company reported a successful FDA meeting confirming a 505(b)(2) NDA pathway, which preceded a strong positive move. Through late Nov and Dec 2025, Nutriband highlighted AVERSA’s positioning and potential $80M–$200M U.S. peak sales, and signed a $5.0M deal to sell 90% of Pocono, funding AVERSA development. Today’s shareholder letter reiterates these milestones and outlines 2026 expectations within this ongoing trajectory.

Market Pulse Summary

This announcement consolidates Nutriband’s 2025 milestones, including the $5M Pocono sale, preferred stock dividend, and continued progress toward commercializing AVERSA™ FENTANYL under a 505(b)(2) NDA pathway. Investors may focus on how these steps interact with warrant expirations in 2026 and the company’s emphasis on avoiding dilutive capital raises. Tracking future FDA interactions, commercialization timelines, and any updates to AVERSA’s market potential will be important.

Key Terms

transdermal medical

"creating technology designed to improve the safety standard of easily abused transdermal drugs"

Transdermal describes a method of delivering a drug through the skin so the active ingredient is absorbed into the bloodstream, commonly via a patch, gel or cream. For investors, transdermal delivery affects a product’s convenience, steady dosing, patent and regulatory profile, manufacturing needs and market appeal—similar to a slow-release battery that makes a device easier to use and last longer, which can influence sales potential and risk.

abuse-deterrent medical

"poised to become the world’s first abuse-deterrent opioid transdermal patch"

A product described as abuse-deterrent is designed to make intentional misuse—such as crushing, dissolving or injecting—harder or less rewarding, often through physical barriers, additives that make tampering difficult, or properties that cause unpleasant effects if manipulated. For investors, such features can change a drug’s regulatory path, market acceptance, insurance coverage and legal risk, much like adding a safety lock can alter a product’s appeal, liability and sales potential.

chemistry, manufacturing, and controls (cmc) regulatory

"provide feedback on the Chemistry, Manufacturing, and Controls (CMC) plans for the product"

Chemistry, manufacturing, and controls (CMC) is the collection of information and data that describes a drug’s recipe, how it is made at scale, and the quality checks that ensure each batch is consistent and safe. For investors, CMC matters because regulators use it to decide approvals and manufacturing reliability; weak or incomplete CMC can delay launches, raise production costs, or create supply risks much like a flawed recipe or factory process undermines a product’s reliability.

investigational new drug application (ind) regulatory

"from submission of an Investigational New Drug Application (IND) through approval"

An investigational new drug application (IND) is a formal request made to regulatory authorities to begin testing a new medicine in humans. It is a crucial step in the drug development process, allowing companies to conduct clinical trials to determine if the drug is safe and effective. For investors, an IND signals progress in the drug's development, which can influence a company's potential growth and valuation.

AI-generated analysis. Not financial advice.

ORLANDO, Fla., Dec. 31, 2025 (GLOBE NEWSWIRE) -- Nutriband Inc. (NASDAQ:NTRB) (NASDAQ:NTRBW) today announced that CEO Gareth Sheridan has published a letter to shareholders providing insights on achievements and milestones through 2025 and the potential outlook for 2026. The full text of the letter is below.

Dear Shareholders,

As we wrapped up a successful 2025, the entire team at Nutriband would like to extend our warmest appreciation to all of you for your continued support throughout 2025 and into 2026. I always stress and extend our appreciation to the many of you that have been with us from the beginning and now the many more who have joined our common goal along the way.

This goal is to change the world for the better by creating technology designed to improve the safety standard of easily abused transdermal drugs while simultaneously focusing on making these safer treatments available to patients who require them.

Some key points from 2025

Strategic focus and Shareholder Value

Shareholder value has always been and still is a core focus for us as a company and this has been evident through our reluctance to raise capital in the open market that may introduce additional warrants or unfavorable capital structures that could potentially mute our ability to grow in value. This has been evident in our recent announcement that we have agreed to sell 90% of our Pocono subsidiary for $5M USD to EarthVision Bio. This transaction should add $5M to our bottom line with no dilution to shareholders and we will retain 10% of the new entity, including if there is a decision to list this new entity on a major US exchange.

In July, we announced a 25% Preferred Stock dividend to all existing shareholders. Shareholders of record on July 25th 2025 received one preferred share for every four shares of common stock held. The pay date for shareholders to receive their new issuance was August 5th.

Each preferred share will be convertible to one share of common stock following FDA approval of the Company’s AVERSA Fentanyl product.

If the preferred share remains unconverted it shall be entitled to a cash dividend paid from the profits of the company on an annual basis as decided by the board of Directors.

Finally, one big milestone we are looking forward to in 2026 is the expiration of our warrants from the 2021 IPO which expire Oct 1, 2026. Internally we believe these warrants may be a major contributor to the volatility we have seen in our stock in the last number of years.

AVERSA™ Fentanyl Advances Toward Commercialization and Boosts Patent Protection

Our lead product, AVERSA™ Fentanyl, is poised to become the world’s first abuse-deterrent opioid transdermal patch. We made significant strides toward commercialization in 2025, here are some of the key highlights form 2025:

• In February we announced that Nutriband had Received a Notice Of Allowance For our New U.S. Patent Covering our Transdermal Abuse Deterrent Technology Aversa(TM)
• Also in February in a cost saving measure we announced that we signed an addendum to the Commercial Development and Clinical Supply Agreement for our lead product, Aversa™ Fentanyl with Kindeva Drug Delivery, a leading global contract development and manufacturing organization (CDMO). Nutriband and Kindeva revised our agreement to formalize our exclusive product development partnership and long-term commitment based on shared development costs in exchange for milestone payments.
• In June, we announced that the United States Patent and Trademark Office (USPTO) issued patent number 12,318,492 on June 3, 2025, entitled "Abuse and Misuse Deterrent Transdermal Systems." Further strengthening our IP portfolio for our AVERSA tech and adding significant time to our patent protection
• Also in June we completed commercial manufacturing process scale-up for our lead product Aversa™ Fentanyl, an abuse-deterrent fentanyl patch.
• In August we were granted a Type C Meeting with the US FDA for our lead product, AVERSA™ FENTANYL (abuse deterrent fentanyl transdermal system). The purpose of the meeting was to specifically provide feedback on the Chemistry, Manufacturing, and Controls (CMC) plans for the product from submission of an Investigational New Drug Application (IND) through approval of a 505(b)(2) New Drug Application (NDA) and subsequent commercialization.
  

Addition to 4 Indexes
In July, we were pleased to announce to shareholders that we had been added to four indexes, the Russell Microcap, Russell Microcap Growth, Russell 3000E and Russell 3000E Growth Indexes, as part of the 2025 Russell indexes reconstitution.   

Finally, I look forward to seeing many of you at our annual shareholder meeting on January 24, 2026. This coming year we look forward to continuing to stride towards commercialization with AVERSA Fentanyl. 

If you haven’t already taken a moment to sign up for our email alerts, be sure to do so by visiting our website: www.Nutriband.com. Signing up will ensure that you receive the latest news and announcements as they become available.

Your continued support and belief in our vision have been pivotal to our reaching these milestones and others as we forge ahead. We remain committed to our shareholder value as our number one focus and as we near closer to commercialization for AVERSA product 1, I have no doubt that strategy will shine through.

Happy New Year,

Sincerely,

Gareth Sheridan
CEO, Nutriband Inc.

1 Health Advances market analysis report 2022

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 deterrence 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 periodic and current reports on Form 10-K, Forms 10-Q and 8-K 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

FAQ

What did Nutriband announce about a sale of its Pocono subsidiary (NTRB)?

Nutriband agreed to sell 90% of its Pocono subsidiary for $5M to EarthVision Bio and will retain 10%.

When did Nutriband receive USPTO patent protection for AVERSA (NTRB)?

The USPTO issued patent No. 12,318,492 on June 3, 2025 covering abuse‑deterrent transdermal systems.

What is the 25% preferred stock dividend Nutriband issued in 2025 (NTRB)?

Shareholders of record on July 25, 2025 received one preferred share per four common shares; preferred converts to one common share upon FDA approval of AVERSA.

What regulatory progress did Nutriband report for AVERSA Fentanyl (NTRB)?

Nutriband completed commercial manufacturing scale‑up in June 2025 and was granted a Type C meeting with FDA to discuss CMC and a 505(b)(2) NDA pathway.

How might the 2021 IPO warrants affect NTRB shares and when do they expire?

Management noted the 2021 warrants may have contributed to volatility; the warrants expire on Oct 1, 2026.