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.
Stablecoin Development Corporation, formerly NovaBay Pharmaceuticals, reports developments tied to its transition from a pharmaceutical and eyecare-products issuer to an on-chain holding company focused on the Sky protocol ecosystem. Company updates include SKY token holdings, staking activity, strategic investment activity, and the completed corporate name and ticker change from NovaBay Pharmaceuticals and NBY to Stablecoin Development Corporation and SDEV.
Earlier NovaBay news centered on Avenova eyecare products, the completed sale of the Avenova business and related assets, NYSE American listing compliance, shareholder meetings, proxy matters, capital-structure actions, and proposals related to the company’s corporate direction.
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) will present at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. Management is optimistic about future growth through both organic expansion and strategic acquisitions. CEO Justin Hall emphasizes the company's commitment to leveraging its commercial expertise. NovaBay focuses on differentiated anti-infective products, including Avenova®, CelleRx® Clinical Reset™, and NeutroPhase®, which utilize patented hypochlorous acid formulations known for their non-toxic and irritation-free properties.
NovaBay Pharmaceuticals (NYSE American: NBY) has announced a distribution agreement with Okra Limited to sell Zocular dry eye products through its physician-dispensed sales channel. These products are designed to complement NovaBay's Avenova, which is clinically proven to reduce bacterial load on eyelids, addressing the underlying cause of bacterial dry eye. Zocular offers an in-office procedure called ZEST, along with at-home care products such as ZocuWipe and ZocuFoam, aimed at providing effective treatment for dry eye sufferers.
NovaBay Pharmaceuticals (NBY) reported a net product revenue of $2.1 million for Q2 2021, down from $4.0 million in Q2 2020, impacted by the absence of KN95 mask sales. However, Avenova revenue surged 65% year-over-year to $1.9 million. Gross margin improved to 71% from 49% due to higher Avenova sales. Operating expenses rose to $3.4 million from $3.0 million, driven by increased digital marketing costs. The net loss narrowed to $1.9 million ($0.04 per share) compared to $4.5 million ($0.15 per share) in Q2 2020. Cash reserves stood at $10.3 million as of June 30, 2021.
NovaBay Pharmaceuticals (NYSE American: NBY) will report its financial results for the three and six months ending June 30, 2021, after market close on August 12, 2021. The company will host a conference call for the investment community at 4:30 p.m. ET the same day. Participants can pre-register for the call to obtain a passcode and unique PIN for immediate access. The live webcast will also be available, with a replay accessible until September 2, 2021. NovaBay focuses on anti-infective consumer products, including the clinically proven Avenova spray.
NovaBay Pharmaceuticals (NYSE American: NBY) has partnered with ImprimisRx, a subsidiary of Harrow Health (Nasdaq: HROW), for the promotion of its product Avenova, a 0.01% hypochlorous acid solution for eye care. This collaboration aims to enhance national sales, marketing, and distribution efforts for Avenova, which addresses chronic eye conditions affecting 30 million Americans. The partnership is expected to improve accessibility to prescription Avenova through a streamlined pharmaceutical model.
NovaBay Pharmaceuticals (NYSE American: NBY) announced its participation in upcoming investment conferences, including the Ladenburg Thalmann Virtual Healthcare Conference on July 14, where management will present at 4:30 p.m. Eastern. The company reported record Avenova unit sales for three consecutive quarters and is targeting a dry eye market of 16 million Americans. NovaBay is also exploring growth opportunities through acquisitions in ophthalmic and skincare products to enhance shareholder value.
NovaBay Pharmaceuticals (NYSE American: NBY) has launched the i-Chek Illuminated Eye Examination Mirror, designed for at-home eye care. This lightweight, handheld mirror provides 10x magnification, allowing users to assess their eyelids and lashes and visualize the effects of their Avenova antimicrobial spray. The i-Chek complements Avenova and aims to enhance customer experience in managing bacterial dry eye. Priced at $29.99, it is available on Amazon and Avenova.com. The company plans to introduce a lubricating dry eye drop later this year to expand its product offerings.
NovaBay Pharmaceuticals (NBY) reported Q1 2021 financial results, highlighting a milestone in OTC revenue with Avenova exceeding $1 million for the first time. The OTC channel now represents 79% of Avenova revenue, up from 51% year-over-year. First-quarter net product revenue was $1.8 million, with Avenova revenue up to $1.6 million from $1.5 million in 2020. Gross margin improved to 75% from 69%. The company continues to expand product offerings and digital advertising strategies, maintaining a net loss of $1.5 million, or $0.04 per share. Cash reserves stood at $10.5 million as of March 31, 2021.
NovaBay Pharmaceuticals (NYSE American: NBY) will release its financial results for Q1 2021 on May 6, 2021, after market close. An investment community conference call is scheduled for the same day at 4:30 p.m. ET. Participants can pre-register online to gain immediate access, or dial in for live access. A replay will be available post-call until May 27, 2021. NovaBay is known for its innovative anti-infective consumer products, including Avenova, CelleRx, and NeutroPhase, utilizing a patented pharmaceutical-grade hypochlorous acid.
NovaBay Pharmaceuticals (NYSE American: NBY) has launched its new Avenova Warm Eye Compress to aid in alleviating symptoms related to blepharitis, dry eye disease, and other eye conditions. This reusable compress complements the company’s existing Avenova lid and lash spray and aims to hydrate and lubricate the eyes. It promotes meibomian gland function, enhancing tear production and preventing rapid tear evaporation. Users can easily heat the compress in a microwave and reuse it after cleaning.