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INVO Fertility announces new Nasdaq trading symbol
INVO Fertility, formerly known as NAYA Biosciences, confirmed it will begin trading under the new symbol "IVF" at the market open on April 28, 2025. The CUSIP number for the Company's common stock will remain unchanged. The symbol change follows the Company's announcement on April 14, 2025, regarding the strategic decision to separate its fertility and oncology businesses into distinct operations.
NAYA Biosciences announces strategic decision to separate fertility and oncology
The company states: "INVO Fertility, formerly known as NAYA Biosciences, announced its decision to separate its fertility and oncology operations. This strategic decision to separate its two principal focus areas is expected to enable both businesses to maximize shareholder value. In connection with the planned separation, the Company has been renamed to "INVO Fertility, Inc." effective Monday, April 14, 2025, and its Nasdaq ticker symbol will be changed to "IVF" as soon as practicable. The Company will provide additional information on the expected date for the new symbol to go effective. With this separation, the Company returns to its previous, exclusive focus on the fertility marketplace - the establishment, acquisition and operation of new fertility clinics and the distribution of the Company's FDA-cleared INVOcell device."
NAYA Biosciences to effect 1-for-12 reverse split
NAYA Biosciences announced that it will effect a 1-for-12 reverse split of its issued and outstanding and authorized common stock effective as of 12:01 a.m. Eastern Time on March 18. Commencing with the opening of trading on Nasdaq on March 18, the company's common stock will trade on a post-split basis under the same trading symbol. As a result of the reverse stock split, every 12 shares of issued and outstanding common stock will be exchanged for one share of common stock, with any fractional shares being rounded up to the next higher whole share. Immediately after the reverse stock split becomes effective, the company will have approximately 666,057 shares of common stock issued and outstanding. In addition, a proportionate adjustment will be made to the company's authorized shares of common stock such that the company shall have 4,166,666 shares of authorized common stock after the effective time of the reverse stock split. The reverse stock split is primarily intended to bring the company into compliance with Nasdaq's $1.00 per share minimum bid price requirement for continued listing. However, no assurance can be given that such reverse stock split will enable the Company to regain compliance with the Nasdaq minimum bid price requirement.
NAYA Biosciences supports executive order on fertility treatment access
NAYA Biosciences supports the U.S. President's recent executive order aimed at reducing the cost of IVF and expanding access to fertility services. The order directs the Domestic Policy Council to develop policy recommendations within 90 days to protect IVF access and significantly lower out-of-pocket expenses and health plan costs for families dealing with infertility. For many individuals and couples struggling with infertility, the high cost of IVF often makes treatment financially out of reach. The lack of comprehensive insurance coverage for fertility services in most states further compounds this challenge, forcing many patients to take on significant debt or forego treatment altogether. "Infertility is a challenging medical condition, and no one should have to choose between financial stability and starting a family," said Steve Shum, CEO of NAYA Biosciences. "President Trump's executive order is a critical step in the right direction, and we stand ready to support efforts that make fertility treatments more accessible and affordable for all. In addition to our existing fertility clinic operations, we also believe our FDA-cleared INVOcell device and the IVC treatment process is uniquely positioned to offer an efficient, effective, and more affordable treatment solution, which is aligned with the administration's efforts to reduce costs."
NAYA Biosciences nominates five candidates for the Board
NAYA Biosciences announced that its board of directors has nominated five new candidates with extensive experience in in the biotechnology industry to be approved at the company shareholder meeting scheduled for March 10th. Laurent Audoly is the cofounder and CEO of PriveBio, a precision medicine company, and a professor and strategic advisor at the Institute for Experiential AI at Northeastern University. He has previously founded and scaled several biotechs across multiple therapeutic areas and serves as a board member of several companies. Melissa Fensterstock is an advisor with Material Impact Fund since 2023, where she helps early-stage companies translate innovations from academic settings to commercial scale. Ms. Fensterstock previously served as CEO and board member of Lansdowne Labs, a spin-out from MIT and Harvard founded by Professors Robert Langer and Jeffrey Karp. Prakash Raman is the CEO of InduPro, a venture-backed protein therapeutics company. He is also a director at Black Diamond Therapeutics, (BDTX). Daniel Teper is the Founder & President of NAYA Biosciences. He is also the Executive Chairman of Imaginostics and a member of the supervisory board of Crossject. Alexandra Urman is an analyst and portfolio manager at the intersection of biotechnology and healthcare innovation. Urman currently serves as the CEO of Aomics and Senior Vice President of the Florida-Israel Business Accelerator's Venture Fund.
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