What's Going On With NovaBay Pharmaceuticals Shares Friday?
Portfolio Pulse from Dylan Berman
NovaBay Pharmaceuticals shares surged after announcing a $9.5 million sale of its Avenova assets to Physician Recommended Nutraceuticals, expected to close in Q4 2024 pending shareholder approval.
September 20, 2024 | 5:28 pm
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POSITIVE IMPACT
NovaBay Pharmaceuticals shares rose 25% following the announcement of a $9.5 million sale of its Avenova assets to Physician Recommended Nutraceuticals. The deal is expected to close in Q4 2024, pending shareholder approval.
The announcement of the asset sale is a significant corporate action that has positively impacted NovaBay's stock price, as evidenced by the 25% increase. The sale is expected to provide financial benefits and strategic focus for NovaBay, while the pending shareholder approval adds a level of uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100