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) 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.
NovaBay Pharmaceuticals reported strong financial results for 2020, with a 51% increase in net product revenue, totaling $9.9 million. Fourth quarter revenue reached $1.9 million, up 10% year-over-year. Avenova sales, key to growth, accounted for $1.5 million in Q4 2020. The company improved its balance sheet, reducing cash burn and eliminating major debts. Operating loss for 2020 was $6.4 million, a 32% decrease from 2019. Cash reserves increased to $12 million. Future plans include expanding sales and exploring acquisitions in skincare and ophthalmic products.
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