NovaBay Pharmaceuticals, Inc. - NBY STOCK NEWS

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.

NovaBay Pharmaceuticals (NBY) will announce its financial results for the six months ended June 30, 2022, on August 11, 2022, following market close. An investment community conference call is scheduled for the same day at 4:30 p.m. Eastern time, with options for pre-registration and dial-in access. A live webcast will also be available, along with a replay accessible until September 1, 2022. NovaBay focuses on problem-solving health solutions through its brands Avenova and DERMAdoctor, which address eye irritations and skincare issues, respectively.

NovaBay Pharmaceuticals (NYSE American: NBY) has launched a new marketing campaign targeting women who use eyelash extensions, aiming to expand the Avenova brand into this growing market. Avenova is recognized as a premier antimicrobial spray, and the campaign integrates pharmaceutical expertise with beauty, addressing the need for lash care. The global lash extension market is expected to grow 7.6% annually to $2.4 billion by 2031, with Avenova providing a solution to issues like irritation and infection while prolonging the life of extensions.

NovaBay Pharmaceuticals (NYSE American: NBY) has expanded the availability of its DERMAdoctor skincare products through two major U.S. online retailers, Target.com and Urbanoutfitters.com. This expansion aims to enhance customer access to DERMAdoctor’s innovative skincare solutions, which address issues like acne, aging, and sensitive skin. Target.com ranks as the fifth largest online retailer in the U.S., showcasing significant growth potential. NovaBay’s DERMAdoctor line comprises over 30 dermatologist-developed products sold through various channels, emphasizing effective solutions without prescription requirements.

NovaBay Pharmaceuticals (NYSE American: NBY) reported record sales of Avenova products during Amazon's Prime Day on July 12-13, showing a 27% increase from 2021 and a 48% increase from 2020. The sales achieved during this event set a new one-day record since Avenova's launch on Amazon in June 2019. CEO Justin Hall noted the impact of inflation on consumer behavior and expressed optimism about future growth through Amazon. Notably, Avenova Lid & Lash Spray has a strong customer rating of 4.5 stars from over 11,400 reviews.