An intracellular signaling cassette in which the signal is passed on within the cell by nitric oxide (NO) activating soluble guanylyl cyclase (sGC). Includes synthesis of nitric oxide, guanylyl cyclase activity, and downstream effectors that further transmit the signal within the cell following activation by cGMP. [GOC:signaling, PMID:21549190, PMID:22019632]
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C5: Ontology GO: Gene Ontology GO:BP: GO Biological Process