Nutra Pharma Corporation (OTCMKTS:NPHC) Stock Soars 58% After Announcing Manufacturing Expansion
Shares of Nutra Pharma Corporation (OTCMKTS:NPHC) were among the top gainers on Thursday.
Market Stats
On Thursday, NPHC stock soared 55% to $0.0017 with more than 100k shares, compared to its average volume of 812K shares. The stock moved within a range of $0.0017 – 0.0017 after opening trading at $0.0017.
Nutra Pharma to Ramp Up Manufacturing Capabilities
Biotechnology company, Nutra Pharma Corporation (OTCMKTS:NPHC), has provided updates regarding scaling up their manufacturing capabilities for the production of their own products, along with third party companies with OTC drugs as well as dietary supplements.
Brent Bonner, Warehouse Manager of Nutra Pharma, said that in 2021, the company incorporated a full liquid filling line that included automatic filling, capping, coding, labeling and heat shrinking for most of their products. Over the last few months, they have added a tube-filling line that is used for Pet Pain-Away. The company is involved in marketing Nyloxin, Pet Pain-Away, Equine Pain-Away and Luxury Feet in the over-the-counter (OTC) pain management market.
Their tube-filling equipment can be utilized for future gel products too, that might include a personal care line. A capsule-filling machine has also been added, along with an extrusion line to be used for product extensions, new product launches and contract manufacturing for the production of dietary supplements.
The company sells its products on Amazon, Walmart Marketplace, and the company’s own product websites, and announced its plans to ramp up on online marketing and promotional activity. They are also working on broader retail distribution of their OTC products for the treatment of pain. Updates to follow throughout 2022!
Traders Corner
NPHC stock is trading below the 20-Day and 50-Day Moving averages of $0.0019 and $0.0025 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0034.
