Welcome to our dedicated page for Novabay Pharma news (Ticker: NBY), a resource for investors and traders seeking the latest updates and insights on Novabay Pharma stock.
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) generates frequent news related to corporate strategy, asset sales, stockholder actions, and exchange listing matters. Historically focused on scientifically created and clinically proven eyecare, wound care, and skin care products, NovaBay’s recent headlines have centered on the Avenova eyecare brand and significant changes to its business structure.
News coverage for NovaBay has included announcements about the completion of the sale of its Avenova eyecare business and related assets to PRN Physician Recommended Nutriceuticals, LLC. The company has reported that this asset sale represented substantially all of its assets and required stockholder approval at special meetings. These developments are important for understanding how NovaBay has monetized its historical operating business and redirected value to stockholders.
Another major category of news involves stockholder meetings and proposals. NovaBay has issued multiple press releases about special meetings and reconvened meetings where stockholders were asked to vote on the sale of the Avenova business and on a Plan of Complete Liquidation and Dissolution. Later communications describe stockholder approval of the Dissolution proposal and the Board’s decision to evaluate alternative strategic options, including mergers, reverse mergers, strategic partnerships, and licensing transactions.
More recent items highlight an investment transaction involving Series D and Series E non-voting convertible preferred stock, the declaration of a one-time special cash dividend, and NovaBay’s disclosure that it regained compliance with NYSE American continued listing standards. Investors following NBY news can track updates on these capital structure changes, special dividend mechanics, and any future post-investment transaction the company may pursue. This news page offers a consolidated view of NovaBay’s press releases and related coverage, providing context on how its strategic direction and corporate actions are evolving over time.
NovaBay Pharmaceuticals (NYSE American: NBY) announced it has regained compliance with the NYSE American continued listing standards as of October 20, 2025. The company said it previously received noncompliance notices on April 18, 2024 and May 28, 2024 for Sections 1003(a)(i),(ii),(iii) requiring minimum stockholders' equity of $6.0 million. NovaBay reported raising aggregate net proceeds of approximately $6.0 million from the issuance and sale of pre-funded warrants for 5,405,406 common shares and approximately $2.15 million from issuing 268,750 shares of Series E non-voting convertible preferred stock, and believes stockholders' equity now exceeds the $6 million requirement. The NYSE American formally confirmed resolution of those deficiencies on October 20, 2025.
NovaBay Pharmaceuticals (NYSE American: NBY) has announced a virtual Special Meeting scheduled for April 16, 2025, where stockholders will vote on a proposal for the company's liquidation and dissolution. Stockholders of record as of March 18, 2025, will be eligible to vote.
The previous dissolution proposal in January 2025 received approximately 49% favorable votes, falling short of the required 50% threshold. In response to these voting challenges, NovaBay has engaged a financial advisor to explore additional strategic alternatives, including mergers, reverse mergers, strategic partnerships, and licensing transactions.
CEO Justin Hall emphasized that these alternative strategies ensure multiple paths forward regardless of the Special Meeting outcome. The dissolution proposal requires approval from a majority of outstanding shares to authorize the company's liquidation under Delaware law.
NovaBay Pharmaceuticals (NYSE: NBY) has completed the sale of its Avenova eyecare business to PRN for $11.5 million, following stockholder approval at the Special Meeting on January 16, 2025. The transaction represents the sale of substantially all of the company's assets.
The company is now seeking stockholder approval for Proposal Two, which would authorize the company's complete liquidation and dissolution. Currently, approximately 49% of outstanding shares have voted in favor, just short of the required 50% threshold. Of the votes received, 86.7% support the dissolution.
The Special Meeting has been adjourned until January 30, 2025, to allow additional time for stockholders to vote on the dissolution proposal. The company believes pursuing dissolution provides the best opportunity to optimize value for stockholders following the Asset Sale.
NovaBay Pharmaceuticals (NYSE: NBY) announced the adjournment of its Reconvened Special Meeting of Stockholders to January 16, 2025, due to insufficient votes for two important proposals. Proposal One, regarding the sale of Avenova to PRN Physician Recommended Nutriceuticals, and Proposal Two, concerning the company's liquidation and dissolution, both require a 50% threshold of favorable votes from all outstanding shares.
Currently, approximately 89.3% of voted shares support Proposal One, and 88.2% support Proposal Two. The Board of Directors maintains these proposals are in the best interests of NovaBay and its stockholders, with ISS recommending votes FOR both proposals. Stockholders of record as of October 15, 2024, are encouraged to vote before January 15, 2025, at 11:59 p.m. Eastern time.
NovaBay Pharmaceuticals (NYSE: NBY) CEO Justin Hall has issued a letter to stockholders urging them to vote FOR two important proposals at the reconvened Special Meeting on December 18, 2024. The first proposal involves selling the company's eyecare business and Avenova brand to PRN Physician Recommended Nutriceuticals (PRN), while the second proposal concerns the company's liquidation and dissolution.
Although both proposals received significant support at the November 22 meeting, they didn't reach the required majority threshold. PRN, which has a network of over 5,000 eyecare professionals, is positioned to continue growing the Avenova brand. Stockholders of record as of October 15, 2024, can vote via Internet, telephone, or mail until December 17, 2024, at 11:59 p.m. Eastern time.
NovaBay Pharmaceuticals (NYSE American: NBY) announced the adjournment of its Special Meeting of Stockholders from November 22 to December 18, 2024, due to insufficient votes for two critical proposals. Proposal One, regarding the sale of Avenova to PRN Physician Recommended Nutriceuticals, and Proposal Two, concerning the company's liquidation and dissolution, both require 50% approval of all outstanding shares. Currently, approximately 89.0% of voted shares support Proposal One and 88.5% support Proposal Two, but total votes haven't reached the required threshold. The Board of Directors supports both proposals, which are also recommended by ISS.
NovaBay Pharmaceuticals released its financial results for Q3 2024, highlighting a 14% increase in online Avenova sales and a 25% reduction in sales and marketing expenses. Total net sales for the quarter were $2.4 million, primarily from eyecare products. The gross margin was 65%, down from 67% in Q3 2023. Sales and marketing expenses decreased to $0.9 million, while general and administrative expenses increased to $1.7 million due to higher legal costs. The company reported a net loss of $2.2 million, or $0.60 per share, compared to a net loss of $1.8 million, or $13.11 per share, in Q3 2023.
For the first nine months of 2024, total net sales were $7.5 million, down from $8.4 million in the same period of 2023. The gross margin improved to 67% from 60%. Sales and marketing expenses decreased by 18%, while G&A expenses increased by 28%. The net loss for the nine months was $7.4 million, or $3.97 per share, compared to $7.5 million, or $79.58 per share, in the same period of 2023. The company had $0.8 million in cash and cash equivalents as of September 30, 2024, compared to $2.9 million as of December 31, 2023.
NovaBay Pharmaceuticals (NYSE American: NBY) has accepted a revised offer from PRN Physician Recommended Nutriceuticals to increase the purchase price for its eyecare business from $9.5 million to $11.5 million. The deal includes a secured promissory note of up to $1.0 million in two $0.5 million installments. The Board determined this revised offer was superior to an unsolicited proposal from Refresh Acquisitions BidCo The transaction requires stockholder approval at a Special Meeting scheduled for November 22, 2024. The Board unanimously recommends stockholders approve both the PRN transaction and the potential voluntary liquidation of the company.
NovaBay Pharmaceuticals (NYSE American: NBY) announces its board has determined an unsolicited offer from Refresh Acquisitions BidCo to acquire the Avenova® brand and related assets is a 'Superior Proposal' compared to their existing agreement with PRN. The Refresh offer includes a purchase price of up to $11.5 million (versus PRN's $9.5 million) and a $2.0 million secured term loan. PRN has until November 4, 2024, to submit a revised proposal. Refresh is affiliated with RVL Pharmaceuticals, which commercializes Upneeq®, making Avenova products complementary to their portfolio.
Acumen Health Holdings has announced that its subsidiary, PRN Physician Recommended Nutriceuticals, will acquire the Avenova® brand from NovaBay Pharmaceuticals (NYSE American: NBY). The acquisition, expected to close in Q4 2024, will enhance PRN's portfolio of science-based eye health products. Avenova® offers products for ocular health, including cleansing sprays, wipes, and heated eye masks, with its leading product being a hypochlorous acid spray for eye hygiene.
PRN plans to leverage its existing sales force and relationships with eye care professionals to expand access and awareness of Avenova® products. This marks PRN's sixth add-on acquisition in five years, aligning with its strategy to grow in the eye health market both organically and through acquisitions.
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