Maxim analyst Jason McCarthy downgraded INVO Bioscience to Hold from Buy after the company announced a proposed all-stock merger agreement with NAYA Biosciences – a life science company specializing in building a portfolio of oncology, regenerative medicine, and infertility treatments. With Naya CEO set to take the helm and the majority of the Board to be nominated by Naya, the firm states that it does not yet have a “clear picture of the strategic direction for the combined company”.
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