Welcome to our dedicated page for INVO BioScience news (Ticker: INVO), a resource for investors and traders seeking the latest updates and insights on INVO BioScience stock.
INVO Bioscience, Inc. (INVO) delivers innovative fertility solutions through its proprietary INVOcell technology and growing network of treatment centers. This news hub provides investors and healthcare professionals with essential updates on the company's clinical advancements, financial performance, and strategic initiatives in assisted reproductive technology.
Access timely updates including earnings reports, regulatory developments, technology partnerships, and clinic expansion announcements. Our curated collection features official press releases alongside verified third-party analysis to support informed decision-making.
Key coverage areas include INVOcell technology updates, clinic network growth, financial disclosures, and industry partnership announcements. Bookmark this page for streamlined monitoring of INVO's progress in making advanced fertility treatments more accessible through medical innovation.
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.
INVO Bioscience has completed its merger with NAYA Biosciences, creating a combined company that will operate as NAYA Biosciences and trade on NASDAQ under the ticker NAYA. The merged entity will maintain INVO's revenue-generating fertility business while expanding into oncology and autoimmune diseases. Steve Shum will serve as CEO, with Dr. Daniel Teper appointed as President and CEO of the NAYA Therapeutics subsidiary.
The company's expanded portfolio includes a GPC3-targeting FLEX-NK™ bispecific antibody entering Phase I/II trials for hepatocellular carcinoma and a CD38-targeting FLEX-NK™ bispecific antibody for multiple myeloma and autoimmune diseases. This merger aims to create value for shareholders by combining profitable fertility revenues with innovative therapeutics development.
INVO Bioscience (Nasdaq: INVO) reported record Q2 2024 financial results, showcasing significant growth. Key highlights include:
- Revenue soared 481% year-over-year to $1,836,597
- Clinic revenue increased 611% to $1,807,921
- Total revenue from all clinics, including consolidated and equity method, grew 201% to $2,141,229
- Adjusted EBITDA improved by $1.1 million to $(0.5) million
- Net loss remained stable at $(2.2) million
The company's acquisition strategy is driving growth, with fertility centers in Middleton, Atlanta, and Birmingham showing sequential revenue growth and collective profitability. INVO aims to reach breakeven with current operations and plans to resume acquisition and new INVO Center activities in 2025.
INVO Bioscience reported record Q1 2024 revenue growth of 353% year-over-year, reaching $1,576,286. Clinic revenue surged 417% to $1,537,199, derived from its Atlanta and Madison IVF centers. The total revenue from all clinics increased 189% to $1,869,513. Operating expenses decreased to $2.5 million, while net loss reduced to $(1.6) million from $(2.6) million. Adjusted EBITDA improved to $(0.5) million from $(1.7) million. The company also highlighted its definitive merger agreement with NAYA Biosciences, where NAYA shareholders will receive 7.3333 shares of INVO for each share of NAYA. The merger is subject to closing conditions, including shareholder approval and a $5 million funding requirement.
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