Nutriband Inc. reported a revenue of $2.14 million for the fiscal year ending January 31, 2025, reflecting a slight increase from $2.09 million in the previous year. The company's cost of revenue rose to $1.40 million, resulting in a gross margin of $743,317, down from $862,105 in the prior year. The increase in revenue was primarily attributed to the Pocono Pharmaceuticals segment, which maintained stable sales, while the 4P Therapeutics segment saw no revenue due to a strategic shift in focus. The company incurred a net loss of $10.48 million, or $0.99 per share, compared to a loss of $5.49 million, or $0.69 per share, in the previous fiscal year.
In terms of operational developments, Nutriband has been actively pursuing its lead product, the AVERSA Fentanyl transdermal system, which is designed to deter opioid abuse. The company signed a commercial development and clinical supply agreement with Kindeva Drug Delivery to advance this product. Additionally, Nutriband completed an $8.4 million equity financing with European investors in April 2024, which is expected to support ongoing research and development efforts. The company also recorded a significant impairment charge of $3.60 million related to goodwill and intangible assets, reflecting a reassessment of the value of its assets.
Nutriband's workforce has seen changes, with a focus on expanding its research and development capabilities. The company reported an increase in research and development expenses to $3.12 million, up from $1.96 million in the previous year, as it continues to invest in the AVERSA product pipeline. The total employee headcount remains limited, with the company relying on a small team to manage its operations and development projects.
Looking ahead, Nutriband's management expressed optimism about the potential for increased demand for its products, particularly as it seeks FDA approval for the AVERSA Fentanyl system. The company plans to utilize the 505(b)(2) NDA regulatory pathway, which may expedite the approval process. However, management acknowledged the inherent risks associated with drug development, including the need for substantial funding and the uncertainty of regulatory outcomes. The company is focused on maintaining liquidity, with cash and cash equivalents of $4.31 million as of January 31, 2025, and working capital of $3.81 million, which it believes will support its operations for the foreseeable future.
About NutriBand Inc.
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