NovaBay Rebrands To Stablecoin Development Corp In Full Crypto Pivot— Pharma Company's Stock Climbs 19%

NovaBay Pharmaceuticals, Inc. has rebranded as Stablecoin Development Corporation, marking a complete transition to a cryptocurrency-focused strategy. The company will change its ticker symbol to SDEV on April 3 and aims to become an on-chain holding company in the cryptocurrency ecosystem. Following the announcement, NovaBay's stock rose by 19% during regular trading, although it has seen a 95% decline year-to-date. The firm holds 2.06 billion SKY tokens and has earned approximately 26.6 million SKY tokens in staking rewards.