Why Nutriband Shares Are Soaring Today

Nutriband Inc NTRB is soaring Friday morning after the company announced the Korean Intellectual Property Office fully issued its patent titled "Abuse and Misuse Deterrent Transdermal System" which is related to the company's lead technology AVERSA.

AVERSA is 4p Therapeutics' abuse deterrent transdermal system, which uses taste aversion to address the primary routes of abuse for opioid based transdermal patches. 4p Therapeutics is a subsidiary of Nutriband.

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

Nutriband is primarily engaged in the development of a portfolio of transdermal pharmaceutical products. The stock was among the top two trending stocks on Stocktwits at publication time. 

See Also: 18 Stocks Moving in Friday's Pre-Market Session

NTRB Price Action: Nutriband has traded as low as $1 and as high as $18.80 over a 52-week period.

The stock was up 54% at $6.02 at the time of writing.

Photo: Belova59 from PIxabay.