NovaBay Pharmaceuticals ditches pharma for crypto, raises $134M from Framework and Tether to amass 8.78% of SKY supply

Woah. A pharmaceuticals company pivoting from its core business to crypto. It's a nanocap with about $30M market cap, maybe that's the deciding factor for its shareholders to attempt to raise VC capital to get rich fast. If it IPO successfully, both parties walk away laughing to the bank.

Top comment by @JLJohn

More coverage

• NYSE-listed NovaBay pivots to crypto, rebrands as Stablecoin ... (cryptonews.net)
• Strategic Pivot: NovaBay's Bold Acquisition of 8.78% SKY Supply ... (cryptorank.io)
• Pharmaceutical stock surges 26% after crypto pivot - TheStreet (thestreet.com)
• Eyecare biotech jumps 19% after stablecoin-focused pivot (tradingview.com)
• NovaBay Pharmaceuticals pivots to crypto with $134M SKY staking bet (app.dealroom.co)

Explore the topic

• Tether
• Sky
• Treasury