Welcome to our dedicated page for NovaBay Pharmaceuticals news (Ticker: NBY), a resource for investors and traders seeking the latest updates and insights on NovaBay Pharmaceuticals stock.
NovaBay Pharmaceuticals, Inc. (symbol: NBY) is a pioneering biopharmaceutical company dedicated to the development, commercialization, and sale of non-antibiotic anti-infective products. The company's core focus lies in addressing the unmet therapeutic needs of the global eye care market. NovaBay has successfully introduced two distinct product categories: the Neutrox™ family of products and Aganocide® compounds.
The Neutrox™ family is spearheaded by Avenova™, a prescription lid and lash hygiene product designed for managing chronic eye conditions such as blepharitis and meibomian gland dysfunction, commonly known as dry eye syndrome. Affecting an estimated 30 million Americans, these conditions represent a substantial annual market potential, which NovaBay estimates to be around $500 million. Avenova is available for order in 90% of all pharmacies across the United States and is gaining market traction through its 35 medical direct sales representatives under veteran leadership.
Additionally, the Neutrox™ family includes NeutroPhase® for wound care and CellarX™ for dermatology applications. The Aganocide® compounds are led by Auriclosene™, further showcasing NovaBay's innovative approach to non-antibiotic therapies.
NovaBay's flagship product, Avenova Antimicrobial Lid and Lash Solution (Avenova Spray), is laboratory tested to possess broad antimicrobial properties. It effectively removes foreign material, including microorganisms and debris from the skin around the eye, making it a valuable tool for eyecare professionals to manage blepharitis and dry-eye disease. Avenova Spray is available to consumers both through online distribution channels and as a prescription product dispensed by eyecare professionals.
NovaBay Pharmaceuticals operates two main segments: Eyecare, and Wound Care and Skincare. This diversified approach allows the company to leverage its expertise in antimicrobial solutions across multiple therapeutic areas, thereby expanding its market reach and impact.
Financially, NovaBay continues to strengthen its market position through strategic partnerships and continuous innovation. The company's relentless pursuit of excellence in eyecare and skincare underscores its commitment to improving patient outcomes globally.
NovaBay Pharmaceuticals (NYSE American: NBY) has partnered with ImprimisRx, a subsidiary of Harrow Health (Nasdaq: HROW), for the promotion of its product Avenova, a 0.01% hypochlorous acid solution for eye care. This collaboration aims to enhance national sales, marketing, and distribution efforts for Avenova, which addresses chronic eye conditions affecting 30 million Americans. The partnership is expected to improve accessibility to prescription Avenova through a streamlined pharmaceutical model.
NovaBay Pharmaceuticals (NYSE American: NBY) announced its participation in upcoming investment conferences, including the Ladenburg Thalmann Virtual Healthcare Conference on July 14, where management will present at 4:30 p.m. Eastern. The company reported record Avenova unit sales for three consecutive quarters and is targeting a dry eye market of 16 million Americans. NovaBay is also exploring growth opportunities through acquisitions in ophthalmic and skincare products to enhance shareholder value.
NovaBay Pharmaceuticals (NYSE American: NBY) has launched the i-Chek Illuminated Eye Examination Mirror, designed for at-home eye care. This lightweight, handheld mirror provides 10x magnification, allowing users to assess their eyelids and lashes and visualize the effects of their Avenova antimicrobial spray. The i-Chek complements Avenova and aims to enhance customer experience in managing bacterial dry eye. Priced at $29.99, it is available on Amazon and Avenova.com. The company plans to introduce a lubricating dry eye drop later this year to expand its product offerings.
NovaBay Pharmaceuticals (NBY) reported Q1 2021 financial results, highlighting a milestone in OTC revenue with Avenova exceeding $1 million for the first time. The OTC channel now represents 79% of Avenova revenue, up from 51% year-over-year. First-quarter net product revenue was $1.8 million, with Avenova revenue up to $1.6 million from $1.5 million in 2020. Gross margin improved to 75% from 69%. The company continues to expand product offerings and digital advertising strategies, maintaining a net loss of $1.5 million, or $0.04 per share. Cash reserves stood at $10.5 million as of March 31, 2021.
NovaBay Pharmaceuticals (NYSE American: NBY) will release its financial results for Q1 2021 on May 6, 2021, after market close. An investment community conference call is scheduled for the same day at 4:30 p.m. ET. Participants can pre-register online to gain immediate access, or dial in for live access. A replay will be available post-call until May 27, 2021. NovaBay is known for its innovative anti-infective consumer products, including Avenova, CelleRx, and NeutroPhase, utilizing a patented pharmaceutical-grade hypochlorous acid.
NovaBay Pharmaceuticals (NYSE American: NBY) has launched its new Avenova Warm Eye Compress to aid in alleviating symptoms related to blepharitis, dry eye disease, and other eye conditions. This reusable compress complements the company’s existing Avenova lid and lash spray and aims to hydrate and lubricate the eyes. It promotes meibomian gland function, enhancing tear production and preventing rapid tear evaporation. Users can easily heat the compress in a microwave and reuse it after cleaning.
NovaBay Pharmaceuticals reported strong financial results for 2020, with a 51% increase in net product revenue, totaling $9.9 million. Fourth quarter revenue reached $1.9 million, up 10% year-over-year. Avenova sales, key to growth, accounted for $1.5 million in Q4 2020. The company improved its balance sheet, reducing cash burn and eliminating major debts. Operating loss for 2020 was $6.4 million, a 32% decrease from 2019. Cash reserves increased to $12 million. Future plans include expanding sales and exploring acquisitions in skincare and ophthalmic products.
NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) will disclose its financial results for the year ending December 31, 2020, after market close on March 25, 2021. The company will host a conference call at 4:30 p.m. ET on the same day to discuss these results with investors. Participants can pre-register for the call to receive a unique PIN for immediate access, or join live by dialing designated phone numbers. A replay will be available until April 15, 2021. More details can be found on NovaBay's investor website.
NovaBay Pharmaceuticals (NYSE American: NBY) will hold one-on-one investor meetings at the Virtual 33rd Annual Roth Conference from March 15-17, 2021. The company focuses on commercializing Avenova® for eye care and CelleRx® Clinical Reset™ for beauty. Investors can arrange meetings through Roth Capital Partners or LHA Investor Relations. Additionally, the corporate presentation is available on the company's website. NovaBay specializes in non-antibiotic anti-infective products, including the NEUTROX® family and AGANOCIDE® compounds.
NovaBay Pharmaceuticals (NYSE American: NBY) provided a Letter to Stockholders detailing its growth strategy for 2021, focusing on expanding sales of Avenova and CelleRx Clinical Reset. Avenova will debut in 3,000 CVS stores, enhancing consumer access. The company aims to build on its strong market position, targeting the large ophthalmic and skincare markets. Independent lab results confirm Avenova's effectiveness against SARS-CoV-2. NovaBay improved its financial standing, reducing cash burn and eliminating debt to support growth initiatives.
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