Novabay Pharma Stock Price, News & Analysis

NovaBay Pharmaceuticals, a developer of eyecare and skincare products, is introducing its new DERMAdoctor Comfort + Joy Psoriasis Therapeutic Moisturizing Cream featuring 3% Salicylic Acid, aimed at individuals suffering from psoriasis. This product will be showcased on QVC during the program Jane & Shawn’s Beauty Secrets at 10 p.m. Eastern time. The cream, priced at $52 for a pair of 8-ounce tubes on QVC, will also be available on DERMAdoctor.com and Amazon for $46 per tube starting July 31, 2023. Psoriasis affects approximately 125 million people globally and significantly impacts daily life for many sufferers. The product aims to alleviate symptoms including itching and redness, utilizing salicylic acid, ceramides, and hyaluronic acid for enhanced skin hydration.

NovaBay Pharmaceuticals reported a strong financial performance for the fourth quarter and full year 2022, with net product revenue increasing by 15% in Q4 to $3.6 million, and by 41% year-over-year to $14.4 million. The significant growth was fueled by a 143% surge in wound care revenue and successful digital marketing optimization, leading to lower marketing expenses. However, gross margin for Q4 declined to 48% from 53% due to higher sales of lower margin products, and the company recorded a net loss of $8.2 million in Q4, driven primarily by a $6.7 million non-cash impairment charge related to DERMAdoctor assets.

NovaBay Pharmaceuticals (NYSE American: NBY) plans to report its financial results for the fourth quarter and full year ended December 31, 2022 after market close on March 30, 2023. The company will also hold a conference call for investors at 4:30 p.m. ET on the same day. Participants can pre-register for the call to gain immediate access and avoid live operator delays. The call will also be available via webcast, and a replay will be accessible for two hours post-call until April 20, 2023. NovaBay specializes in developing and selling eyecare and skincare products, including its prominent product, Avenova.

NovaBay Pharmaceuticals (NYSE American: NBY) has announced a partnership with Eyeganics to market Organic Tears, an over-the-counter eye drop solution featuring 0.2% organic glycerin. This product, available on Avenova.com, is USDA-certified as 100% organic and preservative-free, designed specifically for dry eye relief. Each bottle dispenses over 250 drops, offering a cost advantage over single-use vials. CEO Justin Hall emphasized the product enhances Avenova's offerings, while Eyeganics' Dan Friederich highlighted its natural formulation, catering to patients sensitive to chemicals in other drops.

NovaBay Pharmaceuticals (NBY) has launched Avenova Eye Health Support, an OTC oral supplement designed to alleviate dry eye symptoms. This product uniquely combines MaquiBright, an antioxidant-rich extract from maqui berries, with high-quality omega-3 oils. The supplement is available in 60 softgel capsules for $41.95 on platforms like Amazon and Avenova.com.

Clinical studies indicate that participants experienced an 89% increase in tear production and a 57% improvement in discomfort after four weeks of use. The global dry eye market is projected to grow at 5% annually, nearing $9 billion by 2030.

NovaBay Pharmaceuticals (NYSE American: NBY) announces that Chief Product Officer Dr. Audrey Kunin will be featured on two QVC shows on February 7, 2023. She will promote the Calm Cool + Corrected 1% Colloidal Oatmeal Eczema + Dermatitis Clinical Repair Balm at 2 p.m. ET and 9 p.m. ET. This balm is designed to relieve eczema flare-ups common in winter and has obtained the National Eczema Association Seal of Acceptance. Its formulation includes 1% colloidal oatmeal and dermatological botanicals that enhance skin hydration and relief. The initiative aligns with targeting an estimated 31 million Americans suffering from eczema, highlighting its market potential.