INVO Bioscience Confirms Corporate Name Change and New Trading Symbol in Connection with Its Recent Merger with NAYA Biosciences
Rhea-AI Summary
INVO Bioscience has announced a corporate name change to NAYA Biosciences Inc. and will begin trading under the new symbol 'NAYA' on October 22, 2024. This change follows the recent merger with NAYA Biosciences, completed on October 14th. The newly combined company will maintain its revenue-generating fertility business while expanding into oncology and autoimmune diseases.
CEO Steve Shum stated that the name change and new trading symbol better reflect their expanded corporate strategy. The company aims to combine scalable, profitable revenues from the fertility business with the potential of innovative therapeutics. Their hub-and-spoke model is designed to share resources and talent to accelerate the development of lean, agile subsidiaries.
Positive
- Merger with NAYA Biosciences expands the company's portfolio into oncology and autoimmune diseases
- Maintaining revenue-generating fertility business while expanding into new therapeutic areas
- Hub-and-spoke model allows for shared resources and talent across subsidiaries
Negative
- None.
New Trading Symbol “NAYA” Effective Tuesday October 22, 2024
SARASOTA, Fla. and MIAMI, Oct. 21, 2024 (GLOBE NEWSWIRE) -- INVO Biosciences (Nasdaq: INVO), a company focused on expanding its portfolio of clinical and commercial-stage assets in fertility, oncology, and autoimmune diseases through the merger of INVO Biosciences and NAYA Biosciences, today confirmed it has changed its corporate name to NAYA Biosciences Inc. and will begin trading under the new symbol “NAYA” at the market open on Tuesday, October 22, 2024.
The CUSIP number for the Company's common stock will remain unchanged.
The name and symbol change follows the Company’s recent announcement on October 14th regarding the completion of its merger with NAYA Biosciences. The newly combined company will continue to operate the revenue-generating fertility business while expanding its focus on the development of first-in-class clinical-stage assets in oncology and autoimmune diseases.
“We believe the name change and new trading symbol better reflects our expanded corporate strategy,” commented Steve Shum, CEO of the combined company. “Combining scalable, profitable revenues from our fertility business with the upside of innovative therapeutics optimizes risk-return for investors. In addition, the hub-and-spoke model allows for shared resources and talent to accelerate the development of our lean, agile subsidiaries.”
Safe Harbor Statement
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Investor & Media Contacts
INVO Bioscience
Steve Shum
Chief Executive Officer
sshum@invobio.com
Robert Blum
Lytham Partners
+1-602-889-9700
blum@lythampartners.com
NAYA Biosciences
Anna Baran-Djokovic
SVP, Investor Relations
+1-305-615-9162
anna@nayabiosciences.com
FAQ
When will INVO Bioscience start trading under the new symbol 'NAYA'?
What is the new corporate name for INVO Bioscience following the merger?
What new therapeutic areas will NAYA Biosciences focus on after the merger?
How does the merger affect INVO's existing fertility business?
