aibioNutriband reports $3.42 million cash, says operations will fund the next year
Tickers NTRB
Nutriband says its operations will fund the next year and that going-concern doubt is gone, but revenue and spending both fell in the quarter and the company still burned cash.
Key facts
- Company
- Nutriband Inc. (NASDAQ: NTRB)
- News type
- Financings
- Primary source
- NTRB 10-Q
Nutriband Inc. (Nasdaq: NTRB) reported cash and cash equivalents of $3,421,615 at July 31, 2026, down from $4,574,857 at January 31, 2026. Working capital was $2,912,335. In its quarterly report filed September 4, 2026, management said it "has prepared estimates for operations for the next twelve months" and believes sufficient funds will be generated from operations to fund the company for one year from the filing date. On that basis it said the substantial doubt about its ability to continue as a going concern is alleviated.
The conclusion rests on management's own forecast. The company has generated operating losses since inception and has relied on sales of securities and third-party and related-party debt to support operations.
What the quarter showed
For the six months ended July 31, 2026, Nutriband reported a net loss of $2,122,517, against $3,389,206 a year earlier. The company used $1,148,103 in operations, compared with $2,650,313 in the same period of 2025. The six-month loss included $772,828 of stock-based compensation for shares, options and warrants issued for services.
Revenue fell. Second-quarter revenue was $437,514 against $622,452 a year earlier, and six-month revenue was $870,913 against $1,289,884. Cost of revenues was $255,640 for the quarter. Research and development spending was $322,194, down from $562,554, and $569,455 for the six months, down from $1,245,980. Selling, general and administrative expense fell to $750,317 from $1,597,540. The loss from operations for the quarter was $890,637. The narrower loss therefore came from cutting costs, not from growth in sales.
The company had no financing inflow in the half. In the same period of 2025 it received $5,305,503 from the sale of common stock and exercise of warrants. Its accumulated deficit stood at $48,814,785, total liabilities were $964,358 and stockholders' equity was $5,328,739.
Nutriband's first-quarter report, covering the three months to April 30, 2026, showed cash of $4,006,184, working capital of $3,544,125 and operating cash use of $563,104. The annual report for the year ended January 31, 2026 recorded a net loss of $8.2 million and cash used in operations of $5.1 million, on revenue of $2.0 million.
Where the money has come from
The going-concern note lists the company's funding history. In March 2023 it signed a three-year, $2,000,000 credit line note with a related party, amended on July 13, 2023 to $5,000,000. The line lets Nutriband draw funds for research and development of its Aversa product, and an amendment dated June 1, 2026 extended it for an additional three years. On April 19, 2024, the company received $8,400,000 from equity financing with European investors. During the year ended January 31, 2026 it received $5,425,709 from the exercise of warrants and employee stock options. The going-concern note names no underwriter, placement agent or lender for these transactions.
The product behind the story
Nutriband develops transdermal pharmaceutical products. Its lead product, AVERSA Fentanyl, combines an approved generic fentanyl patch with the company's abuse-deterrent technology. It is being developed with Kindeva Drug Delivery under a commercial development and clinical supply agreement signed in January 2024. An addendum signed on February 13, 2025 formalized an exclusive partnership based on shared development costs in exchange for milestone payments.
According to the annual report, the company met the FDA on September 18, 2025 about chemistry, manufacturing and controls, and is moving toward an IND filing to support a human abuse potential study. It plans a 505(b)(2) NDA submission. The pipeline is described as primarily early stage, and the company says it cannot assure investors that it will obtain FDA approval for any product. Revenue comes from two subsidiaries: Pocono Pharmaceuticals, which provides contract manufacturing, and 4P Therapeutics, which provides contract research and development.