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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 has launched a new product, Hydrating Cleansing Oil, under the DERMAdoctor Calm Cool + Corrected brand. This soap-free, pH-balanced formula is designed to moisturize and remove makeup without drying the skin, specifically targeting dry, sensitive, or eczema-prone skin. Priced at $30.00 for 200 ml, it features ingredients like jojoba seed and orange peel oils. The product is available on platforms like Amazon.com and dermadoctor.com.
NovaBay Pharmaceuticals, Inc. (NBY) reported a 40% increase in fourth quarter net product revenue, totaling $2.6 million, primarily driven by strong sales of the Avenova spray. Avenova's sales were up 15% for the year, with unit sales growing 31%. The company also completed the acquisition of DERMAdoctor, diversifying its product line. While operating expenses rose to $4.6 million, net loss decreased to $0.9 million from $1.8 million year-over-year. Revenue for 2021 was $8.4 million, down from $9.9 million in 2020, due to a lack of PPE product sales.
NovaBay Pharmaceuticals (NYSE American: NBY) will report its financial results for the fiscal year ending December 31, 2021, on March 29, 2022, after market close. An investment community conference call will follow at 4:30 p.m. ET. Participants can pre-register for the call, which will also be available via live webcast. NovaBay, known for Avenova, the leading antimicrobial lid and lash spray, acquired DERMAdoctor in November 2021, enhancing its product offerings in skincare.
NovaBay Pharmaceuticals (NYSE American: NBY) announces the launch of its new Moisture Recovery HA Serum, designed specifically for dry, eczema-prone skin. This innovative serum features hyaluronic acid, Vitamin C, and unique botanical ingredients, promising hydration and skin repair. Priced at $48.00 for a 30 ml bottle, the serum is available on Amazon and dermadoctor.com. Dermatologist Dr. Audrey Kunin emphasized its benefits for sensitive skin.
NovaBay Pharmaceuticals (NYSE American: NBY) announces a feature of its Calm Cool + Corrected 1% Colloidal Oatmeal Eczema + Dermatitis Clinical Repair Balm on QVC's "Cheers! to Shopping with Leah and Shawn" on March 1 at 10 p.m. Eastern Time. Chief Product Officer Dr. Audrey Kunin, a board-certified dermatologist, will present the product designed for eczema, affecting 31 million Americans. The balm boasts 1% colloidal oatmeal for skin irritation relief and has received the National Eczema Association Seal of Acceptance.
NovaBay Pharmaceuticals (NBY) has engaged a leading Chinese marketing firm for integrated marketing and branding services for its DERMAdoctor skincare products. This collaboration includes managing DERMAdoctor's retail store on Tmall.com, China's top B2C online retailer, starting March 1, 2022. The marketing strategy aims to enhance brand awareness by leveraging social media and influencers, targeting a burgeoning functional skincare market projected to exceed $100 billion by 2024.
NovaBay Pharmaceuticals (NBY) has appointed Dr. Audrey Kunin and Julie Garlikov to its Board of Directors, enhancing its leadership in the skincare and eyecare markets. Dr. Kunin, previously Chief Product Officer, has significant experience in product formulation from her time at DERMAdoctor. Garlikov brings over 25 years of marketing expertise in health and beauty, while Yongxiang Zheng fills the vacancy left by Paul Li. The changes are aimed at leveraging industry insights to boost growth in the OTC market. NovaBay sees a path to profitability following the DERMAdoctor acquisition.
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NovaBay Pharmaceuticals has announced that its Special Meeting of Stockholders, initially held on December 17, 2021, is adjourned to January 31, 2022, to gather more votes for Proposal Two. This proposal aims to increase authorized common stock from 100 million to 150 million shares. Although it received significant support, votes were under 50% of the total, not meeting the required threshold. The company plans to resubmit the proposal if it does not pass. Stockholders are urged to vote by January 30 at 11:59 p.m. Eastern time.
NovaBay Pharmaceuticals (NYSE: NBY) expands its Avenova brand with the launch of Avenova Lubricating Eye Drops, targeting the growing dry eye market projected to reach $6.4 billion by 2028. The eye drops are formulated for immediate relief and are priced competitively at $19.99 for a twin pack. NovaBay's regimen includes Avenova Warm Eye Compress and Avenova Lid & Lash Solution, enhancing treatment efficacy. This product launch marks NovaBay's commitment to developing innovative eyecare solutions.