Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
The latest update is out from NovaBay Pharma ( (NBY) ).
NovaBay Pharmaceuticals, Inc. has signed an agreement to sell the Avenova eyecare product line to PRN Physician Recommended Nutriceuticals, LLC for $9.5 million, with the deal expected to close in the fourth quarter of 2024. The sale requires stockholder approval and is part of a broader strategic plan that includes dissolving the company post-transaction. The dissolution will involve liquidating remaining assets and addressing company obligations, with any proceeds being distributed to stockholders. This move aims to maximize the return of value to shareholders and will be detailed further in a forthcoming proxy statement.
Find detailed analytics on NBY stock on TipRanks’ Stock Analysis page.