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 (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.
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) announced that CEO Justin Hall will present a company overview at the virtual Sequire Biotechnology Conference on February 2 at 2:30 p.m. Eastern time. Avenova® unit sales achieved substantial growth in Q4 2022, indicating a positive trajectory for the company. In 2023, NovaBay plans to focus on its effective wound care products, anticipating significant contributions to revenue. An archived presentation will be accessible on the NovaBay website. Additionally, the company will report its 2022 financial results on March 23, 2023.
NovaBay Pharmaceuticals (NYSE American: NBY) announced an expansion of its commercial program for PhaseOne Skin and Wound Care Cleanser through partnerships with leading wound dressing manufacturers. The CEO, Justin Hall, emphasized expectations for wound care growth in 2023. The Managing Director of PhaseOne Health, Kris Perkins, highlighted past triple-digit growth and plans for synergistic business development in wound and surgical care. Notably, PhaseOne's formulation of hypochlorous acid has shown effectiveness in managing biofilm and promoting healing. The company is positioning itself for significant market opportunities in both wound care and other surgical applications.
NovaBay Pharmaceuticals (NBY) reported significant growth in its DERMAdoctor brand, driven by a successful marketing campaign on Douyin during China's Double 11 shopping festival. Sales increased by 26%, with online visitors rising by 258%. The company is expanding its presence in China, leveraging new partnerships and influencer marketing to tap into the world's largest e-commerce market. CEO Justin Hall noted that the campaign resulted in 15,000 new followers and over 30,000 orders on Tmall. NovaBay also continues to promote Avenova products through TikTok in the U.S., enhancing brand awareness.
NovaBay Pharmaceuticals announced the feature of its product, Calm Cool + Corrected Eczema + Dermatitis Clinical Repair Balm, on QVC's 'Give Gorgeous - Gifts With Purchase' on November 19 at 4 p.m. Eastern time. Chief Product Officer Dr. Audrey Kunin will showcase the balm, praised for its moisturizing properties and inclusion of colloidal oatmeal and botanicals. The product was recognized by Medical News Today and Verywell Health as a top eczema lotion. Eczema impacts approximately 31 million Americans, emphasizing the balm's market potential.
NovaBay Pharmaceuticals reported a 69% revenue growth in Q3 2022, driven by robust DERMAdoctor product sales and increased demand for Avenova Spray units. The total net product revenue reached $3.8 million, with significant contributions from various product lines. Despite growth, gross margin dropped to 62% due to a higher mix of lower-margin products. The net loss for the quarter was $5.8 million, reflecting increased expenses linked to the acquisition and warrant adjustments. The company ended Q3 with $3.9 million in cash and plans to expand DERMAdoctor sales internationally.
NovaBay Pharmaceuticals (NYSE American: NBY) announced the approval of a 1-for-35 reverse stock split following stockholder approval on November 10, 2022. The split will take effect on November 15, 2022, at 4:15 p.m. ET, with trading on a split-adjusted basis commencing on November 16, 2022. This move aims to enhance the stock's marketability and liquidity, potentially aiding compliance with NYSE American listing requirements. The split will reduce outstanding shares from approximately 64 million to about 1.86 million while maintaining authorized shares and par values.
NovaBay Pharmaceuticals (NYSE American: NBY) will report its financial results for Q3 and YTD September 30, 2022, on November 14, 2022, post-market close. The announcement will be followed by a conference call at 4:30 p.m. ET. Participants can pre-register for the call or dial in directly. A live webcast will also be available, and a replay can be accessed until December 5, 2022. NovaBay specializes in healthcare solutions, particularly in eyecare, skincare, and wound care markets.
NovaBay Pharmaceuticals has launched its new 15% Niacinamide Pore Minimizing Serum as part of the DERMAdoctor Picture Porefect collection. This serum is designed to reduce the appearance of enlarged facial pores while providing antioxidant benefits and supporting collagen production. The formulation includes niacinamide, vitamin C, zinc, and peptides, targeting skin conditions like blackheads and discoloration. The product is priced at $42 and is available on Amazon and DERMAdoctor.