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The latest update is out from NovaBay Pharma ( (NBY) ).
NovaBay Pharmaceuticals completed the sale of its Avenova eyecare business to PRN Physician Recommended Nutriceuticals, LLC on January 17, 2025, for $11.5 million. The sale, which represented nearly all of NovaBay’s revenue-generating assets, marks a significant shift in the company’s operations, as it plans to use the proceeds for the liquidation and dissolution of the company, pending stockholder approval of Proposal Two. Despite stockholder approval of the asset sale, the company’s liquidation proposal did not receive enough votes during the reconvened meeting on January 16, 2025, leading to the adjournment of the meeting until January 30, 2025, to allow further voting on the proposal.
More about NovaBay Pharma
NovaBay Pharmaceuticals, Inc. operates in the pharmaceutical industry and is primarily known for its eyecare products sold under the Avenova brand, focusing on the eyecare market.
YTD Price Performance: 14.68%
Average Trading Volume: 574,973
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.47M
See more insights into NBY stock on TipRanks’ Stock Analysis page.
