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 (NYSE American: NBY) will present a company overview at the LD Micro Main Event XV on October 26 at 8:00 a.m. Pacific time in Los Angeles. The event will showcase the company’s scientifically formulated eyecare and skincare products, including the Avenova lid and lash spray and DERMAdoctor skincare line. A live and archived webcast of the presentation will be accessible on the company's Events page.
NovaBay Pharmaceuticals (NBY) has announced substantial orders for its popular DERMAdoctor Kakadu C 20% Vitamin C Serum, especially timed for the holiday season. CEO Justin Hall indicated these orders are expected to boost revenue for the third and fourth quarters of 2022. The serum, containing stabilized vitamin C sourced from Kakadu plums in Australia, is recognized for its skin-brightening properties. DERMAdoctor products are sold through major retailers and online platforms, enhancing the company's market reach and potential growth.
NovaBay Pharmaceuticals (NYSE American: NBY) is promoting its Avenova and DERMAdoctor products during the Amazon Prime Early Access Sale on October 11-12, 2022. This event offers discounted prices for customers, enhancing sales opportunities for the Avenova brand, which achieved record one-day sales during the previous Prime Days. Avenova products are well-rated, receiving an average of 4.5 stars from over 12,000 reviews. DERMAdoctor, led by a board-certified dermatologist, includes various clinically proven skincare offerings. The company aims to attract new customers while providing significant discounts for loyal buyers.
NovaBay Pharmaceuticals (NBY) announced on October 3, 2022, that it received a notice from NYSE American regarding its common stock's low price, necessitating a reverse stock split or price improvement by April 3, 2023, to maintain its listing. The company plans to hold a Special Meeting on November 10, 2022, to seek shareholder approval for a reverse stock split ranging from 1-for-10 to 1-for-35. The initiative aims to raise the stock price and improve marketability, enhancing appeal to investors while supporting growth strategies through recent financing.
NovaBay Pharmaceuticals (NYSE American: NBY) will present at the Ladenburg Thalmann 2022 Healthcare Conference on September 29 at 9:00 a.m. Eastern time. The event takes place at the Sofitel Hotel in New York. A webcast of the presentation will be available on the company's website. NovaBay specializes in developing and commercializing scientifically formulated eyecare and skincare products, including the Avenova lid and lash spray, the most prescribed in its category, and the DERMAdoctor skincare line. For more information, visit novabay.com.
NovaBay Pharmaceuticals (NBY) has transitioned from a single-product company to a three-brand organization in eyecare, skincare, and wound care. CEO Justin Hall highlighted strong sales growth for Avenova with over 600 units sold daily, an 18% year-over-year increase. The company plans a reverse stock split to enhance stock market performance and has engaged with new partners to expand into European and Chinese markets. Anticipated revenue boosts from seasonal orders and new product launches were noted, driving confidence in future growth.
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) announced its participation in the Virtual Life Sciences Investor Forum on September 15, 2022, at 1:00 p.m. Eastern Time. The company will also hold investor one-on-one meetings on September 16 and September 19-20. NovaBay specializes in developing scientifically formulated eyecare and skincare products, including the leading antimicrobial spray, Avenova, and the premium skincare brand DERMAdoctor. Investors can register for the conference here.
NovaBay Pharmaceuticals will feature its Calm Cool + Corrected 1% Colloidal Oatmeal Eczema + Dermatitis Clinical Repair Balm on the QVC show 'Girls’ Night In' on September 13 at 9 p.m. ET. This product, designed to relieve eczema symptoms, is timely as National Eczema Awareness Month begins on October 1. Dr. Audrey Kunin, Chief Product Officer, emphasizes the balm's benefits for the estimated 31 million Americans affected by eczema, including over 16 million adults. The balm has received the National Eczema Association Seal of Acceptance.
NovaBay Pharmaceuticals (NBY) announced a private placement of 3,250 shares of its Series C Non-Voting Convertible Preferred Stock at $1,000 each, alongside Series A-1 and A-2 warrants. The expected gross proceeds are approximately $3.25 million. The company plans to use these funds for working capital and general corporate purposes. The placement is subject to stockholder approval and involves a reverse stock split to accommodate the conversion of the preferred stock and exercise of the warrants. Additionally, NovaBay is engaging in warrant reprice transactions for existing shareholders.
NovaBay Pharmaceuticals, Inc. (NBY) reported a 43% increase in product revenue for Q2 2022, reaching $3.0 million compared to $2.1 million last year. The growth is attributed to successful digital marketing initiatives and the acquisition of DERMAdoctor products. Year-to-date revenue also surged 44% to $5.7 million. However, gross margins dipped to 51% from 71% due to higher sales of DERMAdoctor products. The company incurred a net loss of $2.2 million, consistent with the previous year. As of June 30, 2022, cash reserves were $3.9 million.