NutriBand Inc. (NTRB)·Q1 2019 Earnings Summary

Executive Summary

• Fiscal Q1 2019 (three months ended April 30, 2018) produced no revenue and a wider net loss of $0.45M ($0.02 per share), driven primarily by higher SG&A from $0.28M in stock-based compensation .
• No 8‑K Item 2.02 earnings press release or earnings call transcript was filed; the quarter’s notable corporate action was the acquisition of 4P Therapeutics to expand into transdermal pharmaceuticals (abuse‑deterrent fentanyl and exenatide programs) .
• Liquidity was strained at quarter-end: cash was $0, equity was a $(0.049)M deficit, offset by $1.5M of equity-capital inflows in May 2018 via share sale and warrant exercise (subsequent events) .
• Potential stock catalysts near-term center on execution of the 4P Therapeutics integration and advancement of the abuse‑deterrent transdermal pipeline; there was no company guidance or Street consensus for the quarter .

What Went Well and What Went Wrong

• What Went Well

  • Strategic repositioning: Nutriband acquired 4P Therapeutics, adding a development platform and assets including Defent abuse‑deterrent fentanyl and a transdermal exenatide in Phase I, broadening long-term optionality .
  • Strengthened leadership bench: Appointed Steve Damon (4P founder) to the Board and Alan Smith, Ph.D. to lead regulatory/clinical operations, adding transdermal drug delivery experience .
  • Patent momentum (contextual to the strategy): European Patent Office granted patent protection for the abuse‑deterrent transdermal technology (announced Mar 26, 2019), validating IP around the lead platform (post-quarter but relevant to the quarter’s strategic direction) .

• What Went Wrong

  • No topline and rising operating losses: Revenue was $0; net loss widened to $0.45M on SG&A of $0.45M, including $0.28M of stock-based compensation, pressuring margins (N/M due to no revenue) .
  • Liquidity and going‑concern: Ended the quarter with $0 cash and negative equity; management highlighted substantial doubt about going concern pending additional financing .
  • No guidance or earnings communications: No 8‑K 2.02 or earnings call transcript was found for the period, limiting external visibility and Street engagement [Search 2019 8‑K 2.02: none; transcripts: none].

Financial Results

KPIs and Balance Sheet (Q1 2019)

• Cash and Equivalents: $0
• Total Assets: $110,886
• Total Equity (Deficit): $(48,944)
• Accounts Payable & Accrued Expenses: $77,128
• Shares Outstanding (as of filing date): 21,304,100 (June 18, 2018)

Liquidity events after quarter-end (Subsequent Events)

• $1.0M equity proceeds (sale of 250,000 shares) and additional $0.5M from warrant exercises in May 2018 .

Guidance Changes

Earnings Call Themes & Trends

Management Commentary

• “Nutriband Inc. … is pleased to announce the acquisition of 4P Therapeutics Inc. on April 5, 2018.”
• “Included in the acquisition of 4P’s IP Portfolio is Defent™ abuse deterrent patch technology… [and] 4P’s Exenatide transdermal delivery system, currently in Phase I clinical development.”
• Board and leadership updates highlighted the addition of experienced transdermal drug delivery executives to accelerate development and commercialization pathways .

Q&A Highlights

• No earnings call transcript for Q1 2019 was found; no Q&A themes, guidance clarifications, or tone read-through available for this quarter (search returned none for “earnings-call-transcript” in the period).

Estimates Context

• Wall Street consensus estimates via S&P Global for Q1 2019 were not available in our retrieval; we attempted to fetch EPS and revenue consensus and estimate counts for the quarter, but the request did not return usable data. Given the company’s micro-cap status and lack of earnings communications, Street coverage appears limited (attempted S&P Global retrieval failed).

Key Takeaways for Investors

• Near-term P&L remains investment-driven: with no revenue and elevated SG&A from stock-based comp, losses widened; profitability is unlikely until pipeline or commercial efforts begin to contribute .
• Liquidity is the gating factor: quarter-end cash was $0 and equity negative; subsequent $1.5M financing helped, but management still flags going‑concern risk without further funding .
• Strategic pivot is tangible: the 4P Therapeutics acquisition brings a defined pipeline (abuse‑deterrent fentanyl; transdermal exenatide) and seasoned operators—future value creation hinges on clinical/regulatory progress and partnerships .
• IP underpins the thesis: a European patent grant post-quarter supports defensibility of the abuse‑deterrent platform, which may aid partnering discussions and regulatory strategy .
• No guidance/Street consensus: absence of formal guidance and analyst coverage heightens binary event risk around financing, clinical updates, and regulatory milestones; monitor for updates via SEC filings and press releases .
• Trading implications: headlines around financing, IP, and pipeline milestones are likely to drive stock moves in the absence of earnings calls/coverage; position sizing should reflect liquidity and execution risks .

Sources:

• Q1 2019 10‑Q (period ended April 30, 2018): financials, MD&A, liquidity, subsequent events
• Q3 2018 and Q2 2018 10‑Qs: prior-quarter baselines
• 8‑K and press release (Apr 10, 2018): acquisition of 4P Therapeutics; leadership additions
• 8‑K and press release (Apr 1, 2019): EU patent grant for abuse‑deterrent technology