Shares of the NTRB stock skyrocketed in the current market trading session today on December 31, 2021. NTRB stock price saw a surge of 165.22% to reach $10.37 a share at the time of this writing. The stock was also green in the previous market trade and went up by 9.83% at closing. Let’s deep dive to understand the reason behind this rally.
What’s Happening?
NTRB stock soared after the company announced that the Korean Intellectual Property Office (KIPO) has completely issued its patent titled “Abuse and Misuse Deterrent Transdermal System”. This patent relates to the AVERSA™, which is the lead technology of the Nutriband. From the social media analysis, it seems that the investors are very happy with this news and anticipating the positive future of the NTRB stock. The positive sentiment led to the increase in the per-share price.
Nutriband Inc currently focusing on the development of transdermal pharmaceutical products. NTRB stock has a market cap of $59.85 million and a 1,427,303 average trading volume.
Previous News of NTRB stock
Couple of days ago, on December 29, 2021, Nutriband Inc did announce the share repurchase program in order to buy back $1,000,000 of common NTRB stock. The company had 7,773,962 outstanding shares of common stock as of December 29, 2021.
On December 21, 2021, the company announced the initiation of offering topical lotion contract manufacturing services. The company will offer the manufacturing of liquid-based topical, transdermal, and cosmetic products. The management of the company is striving hard to expand the manufacturing capabilities of the company in order to increase the revenue opportunities for the company. Considering such developments, it seems that NTRB stock will outperform in 2022.
NTRB Receives cGMP Certification:
On December 13, 2021, Nutriband did announce that Active Intelligence, a subsidiary of the company received the cGMP certification after the full cGMP audit. The audit was specifically related to certification of Pharmaceutical OTC GMP, 21 CFR Part 211/210. This is the key milestone of the company which will help in the growing contract manufacturing services of the company.
Wrap Up:
Things are going well for NTRB stock as far as market sentiment is concerned. The stock is ending the year 2021 with a great surge and can be a good bet for investors in the long run.
