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 (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
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
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.
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.
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