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Pharmaceutical stock surges 26% after crypto pivot
NovaBay Pharmaceuticals Inc (NYSE: NBY) was known for its eye care and anti-infective products. Today, it made a major pivot for its business. The company announced on March 23 that it will rebrand as Stablecoin Development Corporation, shifting away from its pharmaceutical roots to become an on-chain holding company focused on digital assets. The new ticker, SDEV, is expected to go live in early April. At the core of this transformation is a massive bet on the Sky protocol ecosystem. The Sky protocol ecosystem, formerly known as Maker, is a decentralized finance (DeFi) network built around the USDS stablecoin system ... (full story)
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