By Amira McKee

Shares of Prenetics Global climbed after the company's board of directors authorized a $40 million share-repurchase program.

The stock jumped 14% to $17.20 in Friday morning trading. The shares have more than tripled in the past year.

The health company, which owns the IM8 supplement brand, said Friday that its board of directors has authorized a share-repurchase program of up to $40 million over a year-long period.

Last week, Prenetics Global's executive leadership team also made open-market purchases totaling around $1.3 million at an average price of approximately $17.11 per share, the company said. Chief Executive Danny Yeung purchased around $750,000 in stock during that round, it added.

The newly authorized corporate repurchase program and the management purchases represent up to $42.75 million in commitments to Prenetics stock, the company said.

"We have spent the past year doing exactly what we said we would do--building IM8 into one of the fastest-growing supplement brands in the world, strengthening our balance sheet, and eliminating complexity," Yeung said. "Our $40 million share-repurchase program is the natural next step."

Write to Amira McKee at amira.mckee@wsj.com

(END) Dow Jones Newswires

March 06, 2026 10:31 ET (15:31 GMT)

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