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 (NBY) announced that the NYSE American has accepted its compliance plan, allowing the company to remain listed while working towards meeting NYSE listing standards. Following the divestiture of an unprofitable segment, NovaBay is now focusing on its core eyecare business, particularly its Avenova®-branded products. The NYSE American has reviewed the plan and acknowledged NovaBay's potential to regain compliance by October 18, 2025, with quarterly reviews until then. Failure to meet these standards could result in delisting proceedings. The company had previously been notified on April 18 and May 28, 2024, about non-compliance due to inadequate stockholders' equity, but this does not affect its business operations or SEC reporting requirements.
NovaBay Pharmaceuticals announced the approval of all proposals at its 2024 Annual Meeting, including a 1-for-35 reverse stock split. This decision aims to align with the NYSE American's listing standards and enhance stock marketability and liquidity. The reverse stock split will be effective on May 30, 2024, and shares will trade on a split-adjusted basis from May 31, 2024.
Additionally, NovaBay received a notice from NYSE American regarding non-compliance with stockholders’ equity requirements. They have until October 18, 2025, to meet these standards or face potential delisting. The company's recent financial statements included a going concern notice, highlighting ongoing financial challenges.
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) introduces an expanded line of Avenova product bundles to address individualized relief from dry eye symptoms. The U.S. market for dry eye treatment is projected to reach $4.86 billion by 2030, with approximately 16 million Americans suffering from dry eye disease. The new Avenova bundles align with optometrists' recommendations for personalized treatment beyond artificial tears, offering easy, affordable, and effective solutions for managing dry eye symptoms.
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) reported a 13% increase in net product sales driven by higher Avenova®-branded product sales through online channels and branded wound care products. Sales and marketing expenses decreased by 15%, with record sales for Avenova products on Amazon.com. The company remains focused on the eyecare market with efficient digital marketing programs aimed at expanding its customer base.
Financially, product sales for Q1 2024 were $2.6 million, a 13% increase from the prior year, driven by online sales. Gross margin remained stable at 68%. Sales and marketing expenses decreased by 15%, while G&A expenses and R&D expenses saw increases. The company reported a net loss attributable to common stockholders of $3.6 million for Q1 2024.
NovaBay Pharmaceuticals, Inc. (NBY) reports record sales of Avenova-branded products on Amazon.com in April 2024, with a 20% increase from the previous year. The company attributes the success to enhanced marketing programs and the high quality of its products. The U.S. dry eye disease market is projected to reach nearly $5 billion by 2030, indicating potential for further growth.
NovaBay Pharmaceuticals, Inc. (NBY) will release financial results for the first quarter ending March 31, 2024, on May 9, 2024, after the market closes. The company will host an investment community conference call at 4:30 p.m. Eastern time on the same day. Participants can pre-register to receive conference call details or join live by dialing in. A replay will be available after the call.
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