NovaBay rises on deal to sell assets of eye care brand Avenova

Stablecoin Development

20/09/2024 13:45

** Shares of biopharma co NovaBay Pharmaceuticals  NBY.A 
more than double to $1 premarket 
    ** Co says it has signed an agreement to sell assets of its
Avenova brand and business for $9.5 mln to pvt eyecare co
Physician Recommended Nutriceuticals
    ** Avenova is a spray used for eye inflammation and dry eye
disease
     ** Co expects to close the transaction in the fourth
quarter of 2024
    ** The brand also offers other products for ocular health
including cleansing sprays, absorbent wipes, and heated eye
masks
    ** Up to last close, stock down 93% YTD 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))