ORLANDO - Nutriband Inc. (NASDAQ:NTRB), a pharmaceutical company specializing in transdermal drug delivery, has entered into an exclusive supplier agreement with Fit For Life Group (FFL), a prominent brand license holder. The deal, fully executed on April 19, 2024, tasks Nutriband's subsidiary Active Intelligence with manufacturing duties for FFL's upcoming product launch.
Fit For Life, known for its leadership in the fitness equipment and yoga accessories market, manages a portfolio of renowned brands such as Gaiam, Reebok, Adidas (OTC:ADDYY), New Balance, SPRI, and FILA. The company's products are distributed through major national retailers including Target (NYSE:TGT), Walmart (NYSE:WMT), Dick's Sporting Goods (NYSE:DKS), and Amazon (NASDAQ:AMZN).
Nutriband, founded in 2016, is currently developing a portfolio of transdermal pharmaceutical products, with an abuse-deterrent fentanyl patch featuring their proprietary AVERSA™ technology at the forefront. This technology is designed to prevent abuse, misuse, and accidental exposure of drugs with potential for abuse and can be integrated into any transdermal patch.
InvestingPro Insights
Nutriband Inc. (NASDAQ:NTRB) has recently made headlines with its exclusive supplier agreement with Fit For Life Group, a significant step for the company's potential growth. According to InvestingPro data, Nutriband's market capitalization stands at $29.95 million, reflecting the scale of the business in the pharmaceutical landscape. Despite the company's innovative strides in drug delivery technology, analysts remain cautious about its profitability in the near term. This is underscored by a Price to Earnings (P/E) ratio of -5.30, indicating that the company is not currently generating net earnings positive to its share price.
As for the company's financial health, Nutriband's liquid assets surpass its short-term obligations, which could provide some stability as it navigates the road ahead. Additionally, while Nutriband operates with a moderate level of debt, the company has not been profitable over the last twelve months. Investors should note the company's strong return over the last month, with a 31.11% price total return, and an even more impressive six-month price total return of 72.68%, which could signal a growing confidence in the market for Nutriband's prospects.
InvestingPro Tips highlight that while the stock has seen a significant hit over the past week, with an 11.72% decline, its strong performance over the last three to six months may interest investors looking for growth opportunities. It's also worth noting that Nutriband does not pay a dividend, which could be a factor for income-focused investors. For those interested in deeper analysis, there are additional InvestingPro Tips available, providing further insights into Nutriband's performance and potential. To explore these insights and more, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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