ORLANDO, Fla., Dec. 16, 2020 /PRNewswire/ — Nutriband Inc. (OTCQB: NTRB), a Nevada Corporation, is pleased to announce that it has reported record 2020 revenues for three and nine months ended October 31, 2020.
In the third quarter of 2020, the Company recorded $391,797 in revenues as compared to $82,567 for the same period last year; for the nine months ended October 31, 2020 the Company recorded $595,611 in sales as compared to $351,070 for the same period last year. The increase in sales is attributed to the increase in orders received by Nutriband Inc.’s wholly owned subsidiary, Pocono Pharmaceuticals Inc., for its contract manufacturing services.
The company expects sales to generally continue to increase in 2021.
About Nutriband Inc.
The Company is primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Its lead product under development is its abuse deterrent fentanyl transdermal system which the Company is developing to provide clinicians and patients with an abuse deterrent transdermal fentanyl product for use in managing chronic pain requiring opioid therapy. The product is combined with properties designed to help combat the opioid crisis by deterring the abuse and misuse of fentanyl patches.
The Company’s website is www.nutriband.com
4P’s (Subsidiary) website is www.4PTherapeutics.com.
Pocono Pharma’s (Subsidiary) website is www.poconopharma.com
Any material contained in or derived from any of the company’s websites or any other website is not part of this press release.
About Our Forward-Looking Statements
Certain statements contained in this press release, including, without limitation, statements containing the words “believes,” “anticipates,” “expects,” plans 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 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 development stage company that does not have a product that can be marketed and the risks contained under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Form 10-K for the year ended January 31, 2020 and under “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” in the Company’s Form 10-Q for the nine months ended Oct 31, 2020, 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 in order to reflect any event or circumstance that may arise after the date hereof.