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SARASOTA, Fla. – NAYA Biosciences, Inc. (NASDAQ: NAYA), a life science company specializing in oncology, autoimmune diseases, and women’s health, as well as providing fertility treatments, has declared a 1-for-12 reverse stock split of its common stock, set to take effect at the start of trading on March 18, 2025, on the Nasdaq Capital Market. The company, currently valued at $2.2 million, has seen its stock price decline by over 61% year-to-date, trading well below its 52-week high of $1.24.
The reverse split will reduce the number of NAYA’s issued and outstanding shares from approximately 7,992,684 to roughly 666,057. Concurrently, the authorized shares will be adjusted to 4,166,666 post-split. The company’s CUSIP number will change to 44984F609. The action aims to meet Nasdaq’s minimum $1.00 bid price requirement for continued listing, although it is not guaranteed to achieve compliance. According to InvestingPro data, NAYA faces significant financial challenges with a weak financial health score of 1.38 and a concerning current ratio of 0.1, indicating potential liquidity issues.
NAYA Biosciences, known for its "hub & spoke" model which combines scalable commercial revenues with clinical-stage therapeutics, is advancing a portfolio of assets. These include NY-303, a bifunctional antibody for hepatocellular carcinoma, NY-338 for multiple myeloma and autoimmune diseases, NY-500 for solid tumors, and NY-600 for metastatic prostate cancer.
This restructuring move is a strategic effort to align with Nasdaq’s listing standards and enhance the company’s market position. However, there is no certainty that the reverse stock split will ensure compliance with Nasdaq’s minimum bid price requirement. The information in this article is based on a press release statement from NAYA Biosciences and financial data from InvestingPro.
In other recent news, NAYA Biosciences has announced the pricing of its public offering at $0.70 per unit, aiming to raise approximately $9.5 million in gross proceeds. The offering includes shares of common stock and warrants, with the exercise price also set at $0.70 per share. The company plans to use the proceeds for various corporate activities, including acquisitions and clinical trials. Maxim Group LLC and Brookline Capital Markets are involved as placement agents for this offering. Additionally, NAYA Biosciences has expanded its oncology pipeline with the introduction of a new PD-1 x VEGF bifunctional antibody, NY-500, targeting hepatocellular carcinoma and other solid tumors. This development leverages NAYA’s FLEX antibody platform in collaboration with MabSilico, focusing on AI-optimized candidates. NY-500 is expected to enter clinical trials in early 2026, while another antibody, NY-303, is already in phase 1/2 trials for HCC patients. These recent developments reflect NAYA’s ongoing efforts to enhance its therapeutic offerings in the oncology sector.
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