Nutriband Inc. Shares Skyrocket Over 120% After This Happened

Shares of Nutriband Inc. were up 126.6% in trading on Friday morning after Wall Street learned that the developer of a fentanyl abuse deterrent patch said it was issued a full patent in South Korea for its lead technology Aversa.

Volume for the company had increased to 31.8 million shares, compared with the full-day average of roughly 55,300 shares. The stock became one of the most actively traded on major U.S. exchanges.

Nutriband has announced that the Korean Intellectual Property Office (KIPO) has fully issued its patent titled “Abuse and Misuse Deterrent Transdermal System” which is related to the Company’s lead technology AVERSA™.

The patent underpins 4p Therapeutics’ abuse deterrent transdermal system, AVERSA, which uses taste aversion to address the primary routes of abuse for opioid based transdermal patches.

The KIPO issued a prior notice of allowance in December 2020.

According to the company’s description, Nutriband is 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.

On Wednesday Nutriband also announced a $1-million share repurchase program.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.