Nutriband Inc. announced that warrants were exercised at a strike price of $6.43, generating gross proceeds of $5,306,000 for the company. This capital infusion strengthens Nutriband's financial position.
The primary use of these proceeds will be directed towards the remaining clinical development of AVERSA Fentanyl and the submission of its New Drug Application (NDA) with the FDA for marketing approval. This funding is crucial for advancing the company's lead pharmaceutical product.
AVERSA Fentanyl has the potential to become the world's first opioid patch with abuse deterrent properties. The successful warrant exercise provides necessary resources to achieve key regulatory milestones.
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