NovaBay Pharmaceuticals Reaches Definitive Deal To Sell Avenova Assets For $9.5M, Expected To Close Q4 2024
Portfolio Pulse from Benzinga Newsdesk
NovaBay Pharmaceuticals has entered into a definitive agreement to sell its Avenova assets for $9.5 million, with the transaction expected to close in the fourth quarter of 2024.
September 20, 2024 | 12:04 pm
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POSITIVE IMPACT
NovaBay Pharmaceuticals has agreed to sell its Avenova assets for $9.5 million, with the deal expected to close in Q4 2024. This sale could provide NovaBay with additional capital and potentially refocus its business strategy.
The sale of Avenova assets for $9.5 million is significant for NovaBay as it provides a substantial capital influx. This could positively impact the company's financial position and allow it to focus on other strategic areas. The expected closure in Q4 2024 gives investors a timeline for when these changes might take effect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100