• Nutriband and Kindeva have completed commercial-scale manufacturing for AVERSA(TM) Fentanyl, a major milestone in the path to FDA approval
• Updated analyst report raises NTRB’s price target to $15.00 and reiterates an Outperform rating, citing favorable trial pathway and strong execution
• Aversa abuse-deterrent tech is protected by international patents and may address a global unmet need in safe pain management
• NTRB boosting their profile and credibility with its recent membership to the Russel Indexes

The opioid crisis remains one of the most pressing public health challenges of our time. While synthetic opioids like fentanyl play a crucial role in managing severe pain, their high abuse potential has led to a growing demand for smarter, safer delivery systems. As policymakers, healthcare providers, and regulators seek solutions that balance medical necessity with public safety, innovative technologies are emerging that could reshape how these powerful drugs are administered.

Nutriband and Kindeva Reach Key Manufacturing Milestone

One company aiming to bridge this gap is Nutriband (NASDAQ: NTRB). Recently, Nutriband announced it has completed commercial manufacturing process scale-up for its lead product, AVERSA(TM) Fentanyl, in partnership with global contract manufacturer Kindeva Drug Delivery. The achievement represents a critical step toward launching the world’s first abuse-deterrent transdermal fentanyl patch.

Aversa combines Nutriband’s proprietary abuse-deterrent technology with Kindeva’s FDA-approved fentanyl patch platform, and it is manufactured at Kindeva’s U.S.-based transdermal facility. With this milestone met, the company is now preparing to produce clinical supplies and submit an Investigational New Drug (“IND”) application to the FDA.

Unlike many traditional drug development pipelines, Aversa Fentanyl is positioned to follow the streamlined 505(b)(2) regulatory pathway, requiring only a single Phase 1 human abuse liability study prior to New Drug Application (“NDA”) submission. According to Noble Capital Markets, this study is low risk and designed to show that the Aversa patch is less attractive to potential abusers.

Analyst Coverage Reflects Confidence in Progress

Reflecting the growing confidence in Nutriband’s commercialization strategy, Noble Capital Markets has reiterated its Outperform rating on NTRB stock and raised its price target to $15.00, citing the company’s progress and efficient execution. The firm’s June 20, 2025, report notes that its prior projections accounted for a potential capital raise earlier in the year, which was ultimately not required, further improving earnings per share projections for FY2027.

The report highlights that AVERSA’s NDA is expected in late 2025 or early 2026, with full-year sales forecasted to begin in 2027. Notably, AVERSA Fentanyl is projected to reach peak U.S. annual sales of $80 to $200 million, depending on market penetration and adoption rates.

Intellectual Property and Global Potential

What makes Aversa especially noteworthy is its broad international patent portfolio, with protections granted in 46 countries, including the U.S., Europe, Japan, China, Canada, and Australia. The technology incorporates aversive agents into transdermal patches to deter abuse, misuse, and accidental exposure, common concerns in both hospital and home settings.

Although Nutriband is initially focused on U.S. approval and market entry, the company has clearly signaled its global ambitions, citing widespread unmet need for safer opioid delivery systems. The transdermal market offers a particularly compelling opportunity due to the ease of use and steady drug release profile of patch-based medications.

Kindeva Collaboration Offers Strategic Manufacturing Edge

Nutriband’s manufacturing partner, Kindeva, brings additional validation to the program. A leading CDMO with global reach, Kindeva offers advanced drug-device manufacturing capabilities, including aseptic fill-finish and sustainable inhalation propellants. By pairing Nutriband’s innovation with Kindeva’s manufacturing muscle, the partnership significantly reduces scale-up risk, a hurdle that has hampered many biopharma startups.

This strategic collaboration not only supports Aversa’s path to market but also sets the stage for future pipeline candidates utilizing the AVERSA platform across other transdermal opioids or CNS drugs.

A Timely Innovation for a Market in Need

As regulatory scrutiny on opioid safety continues to mount, Nutriband’s AVERSA(TM) Fentanyl is emerging as a potential game-changer in both pain management and public health. Its abuse-deterrent properties address core safety concerns without sacrificing therapeutic efficacy, a delicate balance that regulators and prescribers are actively seeking.

With clinical testing expected to begin soon and a regulatory path that’s both clear and efficient, Nutriband is well-positioned to transition from development-stage to commercial-stage in the next 18–24 months.

For Boosting their Investment Strategies

Nutriband was recently awarded with membership to the Russell Microcap, Russell Microcap Growth, Russell 3000E and Russell 3000E Growth Indexes, as part of the 2025 Russell indexes reconstitution. Investment managers and investors commonly use Russell indexes to construct index funds and as benchmarks for evaluating active investment strategies. Gareth Sheridan, CEO of Nutriband Inc. explained, “Being added to the four Russell indexes is a great honor for us as a company as we continue to strive towards building shareholder value and progressing the development of our AVERSA pipeline and in particular AVERSA Fentanyl which has the potential to reach peak annual US sales of $80 million to $200 million. We believe our addition now reflects a market focus on us as a company and the momentum we are building to revolutionize the safety profile of easily abused medications while making these medications available to those in need as a result,”

For more information, visit the company’s website at www.Nutriband.com.

NOTE TO INVESTORS: The latest news and updates relating to NTRB are available in the company’s newsroom at https://ibn.fm/NTRB

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