NovaBay Pharmaceuticals Gains Momentum After Significant Asset Sale
NovaBay Pharmaceuticals Shares Rally
NovaBay Pharmaceuticals shares saw a notable increase following the announcement of a definitive agreement to sell its Avenova assets. The transaction, valued at $9.5 million, was made with Physician Recommended Nutraceuticals. This sale is likely to enhance NovaBay's financial standing and strategic positioning.
Implications of the Asset Sale
- Financial Strength: The $9.5 million acquisition provides a significant boost to NovaBay's liquidity.
- Market Confidence: The announcement has generated renewed confidence among investors.
- Future Growth: This strategic move may pave the way for future opportunities in the health sector.
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