Nutriband Inc. (NASDAQ: NTRB ) shares traded higher on Monday after the company signed an agreement to sell the majority stake of its subsidiary, Pocono Pharmaceutical, to EarthVision Bio.
What To Know: Nutriband announced it has entered into an agreement to sell a 90% interest in Pocono Pharmaceutical for $5 million to EarthVision Bio. The transaction is expected to close on Dec. 31, 2025.
Following the completion of the sale, Nutriband shareholders will retain a 10% ownership stake in EarthVision Bio.
EarthVision Bio is developing and commercializing a line of sustainable products created by Dr. Gordon Moore and Dr. Hans Franke, according to the company.
Nutriband said it plans to use the proceeds from the sale to support the continued development of AVERSA Fentanyl, an abuse-deterrent transdermal fentanyl patch designed to reduce misuse and accidental exposure.
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NTRB Price Action: Nutriband shares were up 16% to $5.57 on Monday, according to data from Benzinga Pro .
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NTRB Nutriband Inc $5.54 -0.52% OverviewThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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