Nutriband Inc. (NASDAQ: NTRB) has announced a temporary leadership change as CEO Gareth Sheridan steps aside for three months to pursue a candidacy in the upcoming Irish Presidential election. During Sheridan's absence, co-founder and chairman Serguei Melnik will assume the role of CEO, bringing over 20 years of capital markets expertise to guide the company towards its goal of filing a New Drug Application (NDA) for AVERSA Fentanyl by 2026.
The announcement underscores the company's confidence in its leadership team and the ongoing development of AVERSA Fentanyl, an abuse-deterrent opioid patch. The U.S. Food and Drug Administration (FDA) has recently granted a meeting request for AVERSA Fentanyl, marking a significant step forward in the regulatory process. This innovative product is designed to deter misuse and accidental exposure, addressing a critical need in the opioid crisis. With patents secured in 46 countries, Nutriband is positioning AVERSA Fentanyl for global market expansion, targeting peak U.S. sales estimates between $80 million and $200 million.
For more details on Nutriband's announcement, visit https://ibn.fm/YstUq. Further updates on Nutriband Inc. can be found in the company's newsroom at https://ibn.fm/NTRB.
This development is significant for investors and the pharmaceutical industry, as it highlights Nutriband's commitment to addressing the opioid epidemic through innovative technology. The temporary leadership transition also reflects the company's stability and strategic planning, ensuring that its flagship product remains on track for regulatory approval and market entry.
