New Risk • Mar 20
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$23m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (46% average weekly change). Negative equity (-US$23m). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 21x increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$31.9m market cap). New Risk • Feb 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$96.7m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (52% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 25x increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$96.7m market cap). Buy Or Sell Opportunity • Jan 27
Now 33% undervalued Over the last 90 days, the stock has risen 98% to US$2.37. The fair value is estimated to be US$3.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last 3 years. Earnings per share has grown by 98%. Duyuru • Jan 20
NovaBay Pharmaceuticals, Inc. has filed a Follow-on Equity Offering in the amount of $100 million. NovaBay Pharmaceuticals, Inc. has filed a Follow-on Equity Offering in the amount of $100 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Buy Or Sell Opportunity • Dec 19
Now 50% overvalued after recent price rise Over the last 90 days, the stock has risen 191% to US$5.30. The fair value is estimated to be US$3.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last 3 years. Earnings per share has grown by 98%. New Risk • Nov 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 24x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (42% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 24x increase in shares outstanding). Board Change • Oct 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. Member of the Optometry Advisory Board Komal Thakore was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Oct 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$7.69m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (40% average weekly change). Earnings have declined by 5.3% per year over the past 5 years. Market cap is less than US$10m (US$7.69m market cap). Minor Risk Shareholders have been diluted in the past year (23% increase in shares outstanding). Duyuru • Sep 12
NovaBay Pharmaceuticals, Inc., Annual General Meeting, Oct 16, 2025 NovaBay Pharmaceuticals, Inc., Annual General Meeting, Oct 16, 2025. Duyuru • Aug 28
NovaBay Pharmaceuticals, Inc. announces special dividend, payable on September 29, 2025 NovaBay Pharmaceuticals, Inc. announced special dividend of USD 0.8000 per share payable on September 29, 2025, ex-date on September 30, 2025 and record date on September 15, 2025. New Risk • Aug 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 5.3% per year over the past 5 years. Market cap is less than US$10m (US$3.49m market cap). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Duyuru • Aug 20
NovaBay Pharmaceuticals, Inc. announced that it expects to receive $6 million in funding NovaBay Pharmaceuticals, Inc entered into a subscription agreement to issue 481,250 shares of Series D non-voting convertible preferred stock at an issue price of $8 for the proceeds of $3,850,000 and 268,750 shares of Series E non-voting convertible preferred stock at an issue price of $8 for the proceeds of $2,150,000 on August 19, 2025. The transaction involves participation of David E. Lazar as an investor.
On the same day, company closed the first tranche of Series D non-voting convertible preferred stock for the proceeds of $3,850,000. The Purchase Agreement also contemplates that Mr. Lazar will separately purchase and acquire 268,750 shares of Series E Preferred Stock as soon as practicable after the Company receives the Conversion Approval subject to shareholder approval Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. Member of the Optometry Advisory Board Komal Thakore was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Duyuru • Apr 02
NovaBay Pharmaceuticals, Inc. announced delayed annual 10-K filing On 04/01/2025, NovaBay Pharmaceuticals, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 131% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$10.8m to US$9.90m. Losses expected to increase from US$1.41 per share to US$3.26. Pharmaceuticals industry in the US expected to see average net income decline 1.1% next year. Consensus price target down from US$7.30 to US$3.73. Share price rose 4.0% to US$0.73 over the past week. Reported Earnings • Nov 10
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.60 loss per share. Revenue: US$2.44m (down 25% from 3Q 2023). Net loss: US$2.22m (loss widened 26% from 3Q 2023). Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 97%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Pharmaceuticals industry in the US. Duyuru • Oct 30
RVL Pharmaceuticals plc (OTCPK:RVLP.Q) offered to acquire Assets of Avenova Brand and Business of NovaBay Pharmaceuticals, Inc. from NovaBay Pharmaceuticals, Inc. (NYSEAM:NBY) for $11.5 million. RVL Pharmaceuticals plc (OTCPK:RVLP.Q) offered to acquire Assets of Avenova Brand and Business of NovaBay Pharmaceuticals, Inc. from NovaBay Pharmaceuticals, Inc. (NYSEAM:NBY) for $11.5 million on October 29, 2024. Refresh’s unsolicitedoffer provides for terms that are substantially similar to the contemplated transaction with PRN, except that the Company would receive a purchase price of up to $11.5 million (compared with $9.5 million in the transaction with PRN), subject to a downside net working capital adjustment. Refresh’s unsolicitedoffer also includes Refresh providing a secured term loan to the Company in the principal amount of $2.0 million, which is expected to be repaid upon closing and deducted from the purchase price. Major Estimate Revision • Aug 20
Consensus revenue estimates decrease by 15%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$13.6m to US$11.6m. EPS estimate increased from -US$5.95 to -US$0.17 per share. Pharmaceuticals industry in the US expected to see average net income growth of 1.3% next year. Consensus price target down from US$58.63 to US$33.93. Share price rose 16% to US$0.56 over the past week. New Risk • Aug 15
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$617k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (30% average weekly change). Negative equity (-US$617k). Shareholders have been substantially diluted in the past year (over 22x increase in shares outstanding). Market cap is less than US$10m (US$1.32m market cap). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (US$2.4m net loss in 2 years). Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: US$1.37 loss per share (improved from US$44.43 loss in 2Q 2023). Revenue: US$2.40m (down 48% from 2Q 2023). Net loss: US$1.59m (loss narrowed 61% from 2Q 2023). Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Pharmaceuticals industry in the US. Duyuru • Aug 02
NovaBay Pharmaceuticals, Inc. to Report Q2, 2024 Results on Aug 13, 2024 NovaBay Pharmaceuticals, Inc. announced that they will report Q2, 2024 results After-Market on Aug 13, 2024 Duyuru • Jul 27
NovaBay Pharmaceuticals, Inc. has completed a Follow-on Equity Offering. NovaBay Pharmaceuticals, Inc. has completed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 3,200,380
Price\Range: $1.1
Security Name: Series F-1 Warrants
Security Type: Equity Warrant
Securities Offered: 3,200,380
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 3,200,380
Security Name: Series F-3 Warrants
Security Type: Equity Warrant
Securities Offered: 3,200,380
Security Name: Series F-2 Warrants
Security Type: Equity Warrant
Securities Offered: 3,200,380 Duyuru • Jul 13
Novabay Pharmaceuticals, Inc. Provides Revenue Guidance for the Year 2024 NovaBay Pharmaceuticals, Inc. provided revenue guidance for the year 2024. The company expects 2024 net revenue from the Company’s eyecare products to be approximately $10 million. Duyuru • Jun 08
NYSE American Accepts NovaBay Pharmaceuticals Plan of Compliance NovaBay Pharmaceuticals, Inc. (the Company") announced that the NYSE American LLC (NYSE American") has accepted the Company's plan to regain compliance with NYSE American's continued listing standards. I'm pleased to report on our forward momentum. By divesting an unprofitable business segment earlier this year, we're now able to focus solely on our core competency in eyecare," said Justin Hall, CEO of NovaBay. Unshackled by past burdens, we are positioned for growth in the large U.S. eyecare market with our established, high-quality Avenova -branded products, effective and cost-efficient digital marketing programs, and loyal customer base. This is an exciting and transformative time for the Company." The NYSE American has reviewed NovaBay's compliance plan and information submitted on May 8, 2024 and determined that the Company made a reasonable demonstration of its ability to make substantial progress toward regaining compliance by October 18, 2025. During this time, the Company will be subject to quarterly monitoring for compliance with the plan. If the Company does not regain compliance with NYSE American's listing standards by October 18, 2025, or if the Company does not make sufficient progress consistent with its plan, then the NYSE American may initiate delisting proceedings at that time. As previously disclosed, the NYSE American notified the Company on April 18, 2024 and May 28, 2024 that it was not in compliance with the continued listing standards of the NYSE American Company Guide. Specifically, the notifications indicated that the Company was not in compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company Guide, requiring a listed company to have a certain amount of stockholders' equity. The Company's receipt of such notification from NYSE American does not affect the Company's business operations or its reporting requirements with the U.S. Securities and Exchange Commission. Breakeven Date Change • Jun 07
No longer forecast to breakeven The 2 analysts covering NovaBay Pharmaceuticals no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$7.26m in 2025. New consensus forecast suggests the company will make a loss of US$235.0k in 2025. Duyuru • May 30
NovaBay Pharmaceuticals Provides Non-Compliance Update NovaBay Pharmaceuticals, Inc. (the Company") announced that stockholders approved a reverse stock split and authorized the Company's Board of Directors to determine the specific split ratio and effective date. We thank stockholders for their support in approving all proposals during our annual meeting," said Justin Hall, NovaBay's CEO. The approval of these proposals allows us to move forward with several strategic initiatives meant to help us regain compliance with NYSE American's continued listing standards and grow our business. We believe the anticipated increased market price resulting from the reverse split will improve the marketability and liquidity of our stock and could encourage additional interest and trading." The Company's Board of Directors has authorized a 1-for-35 reverse stock split of all outstanding shares of common stock of the Company. The Company anticipates that the 1-for-35 reverse stock split will be effective as of 4:15 p.m. New York City time on May 30, 2024, and that the Company's common stock will begin trading on a split-adjusted basis on May 31, 2024. The Company expects that the reverse stock split will increase the per-share price of its common stock, which the Company believes will enable it to comply with the NYSE American's continued-listing requirement relating to the price of its common stock. The Company's trading symbol of NBY" will not change as a result of the reverse stock split; however, a new CUSIP number has been assigned: 66987P 409. The Company also announced that on May 28, 2024 it received notice from the NYSE American that it is not in compliance with Section 1003(a)(i) of the NYSE American Company Guide requiring stockholders' equity of $2.0 million or more if the Company has reported losses from continuing operations and/or net losses in two of the three most recent fiscal years. In a press release dated April 19, 2024, the Company announced notification by the NYSE American on April 18, 2024 that it was not in compliance with the minimum stockholders' equity requirement of Sections 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide requiring stockholders' equity of $4.0 million or more if the Company has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years, and $6.0 million or more if the Company has reported losses from continuing operations and/or net losses in its five most recent fiscal years, respectively. On May 8, 2024, the Company submitted its plan to regain compliance to NYSE American. The Company is subject to the requirements in the April and May notice and if the Company is not in compliance with all of the stockholders' equity standards by October 18, 2025 or does not make substantial progress consistent with its compliance plan, then the NYSE American staff will initiate delisting proceedings, as appropriate. The Additional Deficiency Letter has no immediate effect on the listing or trading of the Company's common stock, par value $0.01 (Common Stock"), and the Company's common stock will continue to trade on the NYSE American under the symbol NBY" with a below compliance" indicator appended to the Company's ticker symbol (with the added designation of .BC") during the period the Company is not in compliance with the NYSE American's continued listing standards. The Company's receipt of the Additional Deficiency Letter does not affect the Company's business operations or its reporting requirements with the SEC. Reported Earnings • May 10
First quarter 2024 earnings: EPS in line with expectations, revenues disappoint First quarter 2024 results: US$0.11 loss per share. Revenue: US$2.63m (down 16% from 1Q 2023). Net loss: US$2.71m (loss widened 56% from 1Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Pharmaceuticals industry in the US. Duyuru • Apr 20
NovaBay Pharmaceuticals, Inc., Annual General Meeting, May 28, 2024 NovaBay Pharmaceuticals, Inc., Annual General Meeting, May 28, 2024, at 11:00 Pacific Daylight. Agenda: To elect three Class II directors nominated by our Board of Directors to hold office for a term of three years or until their respective successors are elected and qualified; to consider ratifying the appointment by our Audit Committee of WithumSmith+Brown, PC as our independent registered public accounting firm; to approve an amendment to our Amended and Restated Certificate of Incorporation, as amended, to effect a reverse stock split of all of our Common Stock issued and outstanding; to grant authorization to our Board of Directors to determine, in its sole discretion, the specific ratio at any whole number within such share range and the timing of the Reverse Stock Split becoming effective or to abandon the Reverse Stock Split; to adjourn the Annual Meeting to establish a quorum or to permit further solicitation of proxies in the event that there are not sufficient votes at the time of the Annual Meeting to approve the proposals; and to consider other matters. Major Estimate Revision • Apr 16
Consensus EPS estimates upgraded to US$0.27 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$16.1m to US$14.8m. 2024 losses expected to reduce from -US$0.41 to -US$0.27 per share. Pharmaceuticals industry in the US expected to see average net income decline 0.7% next year. Consensus price target down from US$3.35 to US$2.60. Share price fell 8.5% to US$0.08 over the past week. Reported Earnings • Mar 27
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: US$3.96 loss per share. Revenue: US$14.7m (up 2.2% from FY 2022). Net loss: US$16.7m (loss widened 2.7% from FY 2022). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 71%. Duyuru • Mar 15
New Age Investments LLC entered into a Membership Unit Purchase Agreement to acquire DERMAdoctor, Inc. from NovaBay Pharmaceuticals, Inc. (NYSEAM:NBY) for $1.07 million. New Age Investments LLC entered into a Membership Unit Purchase Agreement to acquire DERMAdoctor, Inc. from NovaBay Pharmaceuticals, Inc. (NYSEAM:NBY) for $1.07 million on March 12, 2024. The Closing is subject to certain conditions that include the Company obtaining the consent of the holders of the Company’s Original Discount Senior Secured Convertible Debentures due November 1, 2024 (the “ Convertible Notes ”) to (1) amend the Security Agreement, dated April 27, 2023, to remove the Membership Units and any assets of DERMAdoctor as collateral for the Company’s obligations pursuant to the Convertible Notes and for DERMAdoctor to be removed as a party to such agreement and (2) terminate the Subsidiary Guarantee, dated April 27, 2023, which DERMAdoctor entered into in connection with the issuance of the Convertible Notes. NovaBay expects to close the transaction before the end of the first quarter of 2024 and provide certain transitional services for the next 90 days. Yaacov Brenenson of Squire Patton Boggs (US) LLP acted as legal counsel for NovaBay. New Risk • Jan 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.0m free cash flow). Shareholders have been substantially diluted in the past year (221% increase in shares outstanding). Market cap is less than US$10m (US$1.17m market cap). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$965k net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Duyuru • Nov 03
NovaBay Pharmaceuticals, Inc. to Report Q3, 2023 Results on Nov 09, 2023 NovaBay Pharmaceuticals, Inc. announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 Duyuru • Sep 15
Novabay Pharmaceuticals, Inc. Announces Commercial Launch of Avenova Allograft NovaBay Pharmaceuticals, Inc. announced the commercial launch of Avenova Allograft to eyecare professionals across the U.S. through its physician-dispensed channel. This prescription product is the only optic allograft manufactured using BioStem Technologies, Inc.'s proprietary process and is intended for use as a protective covering during the repair of ocular surfaces. The product launch follows a previously announced agreement under which NovaBay was granted the right to commercialize BioStem Technologies' Amniotic Tissue Allograft under the Avenova brand. The Avenova Allograft will compete in the global ophthalmology amniotic membrane market estimated at $403.6 million in 2022, which is expected to grow at 9.8% per year between 2023-2030. The Avenova Allog graft provides a protective environment or covering for repair of the cornea and conjunctiva, helping ocular surface to return to a healthier state. Using its patented six-step BioREtain®? process that reserves the natural integrity of the placental tissue, BioStem Technologies will be responsible for manufacturing, packaging, shipping and regulatory compliance. The product consists only of the amnion layer of the placental membrane and measures between 20-50 microns thick, making it ideal for delicate ophthalmic applications. Avenova Allograft is available in 8mm, 10mm and 12mm diameter sizes. NovaBay's commercial launch of Avenova AllOGraft includes outreach programs aimed at educating eyecare specialists on both the clinical benefits of the product, as well as the process for Medicare reimbursement. In addition to the new allograft product, NovaBay's Avenova suite of products include Avenova antimicrobial lid and lash spray, specially designed dry wipes, lubricating eye drops, a warm eye compress, oral supplements and the i-Chek mirror to monitor physical eyelid health. Major Estimate Revision • Aug 17
Consensus EPS estimates fall by 56% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$16.5m to US$15.3m. Losses expected to increase from US$1.62 per share to US$2.52. Pharmaceuticals industry in the US expected to see average net income growth of 4.2% next year. Consensus price target down from US$8.00 to US$6.65. Share price fell 15% to US$0.62 over the past week. Reported Earnings • Aug 13
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: US$0.013 loss per share (improved from US$1.43 loss in 2Q 2022). Revenue: US$4.61m (up 7.1% from 2Q 2022). Net loss: US$40.0k (loss narrowed 98% from 2Q 2022). Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) missed analyst estimates by 129%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Pharmaceuticals industry in the US. New Risk • Aug 12
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$16m Forecast net loss in 1 year: US$4.5m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.3m free cash flow). Shareholders have been substantially diluted in the past year (175% increase in shares outstanding). Market cap is less than US$10m (US$2.85m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$4.5m net loss next year). Share price has been volatile over the past 3 months (12% average weekly change). Duyuru • Aug 09
NovaBay Pharmaceuticals, Inc. to Report Q2, 2023 Results on Aug 10, 2023 NovaBay Pharmaceuticals, Inc. announced that they will report Q2, 2023 results After-Market on Aug 10, 2023 Duyuru • Jul 08
Novabay Pharmaceuticals, Inc. Announces Audrey Kunin to Retire and Resign from Her Position as Chief Product Officer Effective as of November 5, 2023 On June 29, 2023, Dr. Audrey Kunin advised NovaBay Pharmaceuticals, Inc. of her decision to retire and resign from her position as the Company’s Chief Product Officer effective as of November 5, 2023, the natural expiration of her Executive Employment Agreement, dated November 5, 2021. Duyuru • Jun 16
Novabay Pharmaceuticals, Inc. Approves to Elect Mijia (Bob) Wu as Director Novabay Pharmaceuticals, Inc. approved to elect Mijia (Bob) Wu Class I directors nominated by the Company’s Board of Directors to hold office for a term of three (3) years or until their respective successors are elected and qualified. Duyuru • Jun 13
NovaBay Pharmaceuticals, Inc. Announces DERMAdoctor's KP Duty Lotion and Scrub Ultra Duo Set for Dry, Rough, Bumpy Skin to Be Featured on QVC at a Special Price NovaBay Pharmaceuticals, Inc. announced that Chief Product Officer Dr. Audrey Kunin will appear on QVC's Girls Night In with Courtney & Jane on June 13, 2023 at 10:00 p.m. Eastern time to showcase DERMAdoctor's system for dry, rough, bumpy skin. The two-piece Ultra Duo set of KP Duty Scrub and KP Duty Lotion, both in the 8-ounce size, will be available at QVC for a special price of $56.50. KP Duty Body Scrub is formulated with a 10% complex of Alpha Hydroxy Acids and Polyhydroxy Acids for a dual action physical and chemical exfoliation of the skin that temporarily removes the dead surface skin cells, and a hydrating botanical blend of evening Primrose, Black Currant Seed Oil, Borage Seed Oil, and White Tea Leaf Extract. KP Duty Lotion is formulated with a 10% Complex of Alpha Hydroxy Acids, Polyhydroxy Acids to temporarily exfoliate the skin to help alleviate skin roughness and improve the appearance of skin texture and smoothness, along with ceramides, botanicals and the humectant Urea to help temporarily hydrate and moisturize the skin. Dr. AudAuda Kunin is an author, clinician, educator, television personality and recognized trailblazer in the skincare industry. DERMAdoctor delivers on the promise that skin therapy can be simple and easy. All DERMAdoctor products are scientifically formulated to provide measurable results for common skincare concerns. Duyuru • May 19
NovaBay Pharmaceuticals, Inc., Annual General Meeting, Jun 09, 2023 NovaBay Pharmaceuticals, Inc., Annual General Meeting, Jun 09, 2023, at 11:00 Pacific Daylight. Agenda: To consider directorate elections; to ratify the appointment by the Audit Committee of WithumSmith+Brown, PC as the independent registered public accounting firm for the fiscal year ending December 31, 2023; to consider adjourn the Annual Meeting to establish a quorum or to permit further solicitation of proxies in the event that there are not sufficient votes at the time of the Annual Meeting to approve the proposals; and to consider other matters. Major Estimate Revision • May 18
Consensus revenue estimates increase by 20% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from US$15.0m to US$18.0m. EPS estimate unchanged from -US$1.55 at last update. Pharmaceuticals industry in the US expected to see average net income decline 7.8% next year. Consensus price target of US$9.00 unchanged from last update. Share price fell 27% to US$0.72 over the past week. Breakeven Date Change • May 13
No longer forecast to breakeven The 2 analysts covering NovaBay Pharmaceuticals no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$1.37m in 2024. New consensus forecast suggests the company will make a loss of US$2.20m in 2024. Duyuru • May 05
NovaBay Pharmaceuticals, Inc. to Report Q1, 2023 Results on May 11, 2023 NovaBay Pharmaceuticals, Inc. announced that they will report Q1, 2023 results After-Market on May 11, 2023 Reported Earnings • Apr 02
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: US$10.10 loss per share (further deteriorated from US$5.26 loss in FY 2021). Revenue: US$14.4m (up 71% from FY 2021). Net loss: US$16.3m (loss widened 148% from FY 2021). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 149%. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 61% per year, which means it is significantly lagging earnings. Duyuru • Feb 02
NovaBay Pharmaceuticals, Inc. to Report Q4, 2022 Results on Mar 23, 2023 NovaBay Pharmaceuticals, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Mar 23, 2023 Major Estimate Revision • Dec 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$14.9m to US$14.2m. 2022 losses expected to reduce from -US$3.15 to -US$2.52 per share. Pharmaceuticals industry in the US expected to see average net income growth of 4.7% next year. Consensus price target down from US$98.00 to US$15.00. Share price fell 15% to US$2.11 over the past week. Major Estimate Revision • Nov 23
Consensus EPS estimates fall by 57% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$14.9m to US$14.6m. Losses expected to increase from US$3.15 per share to US$4.95. Pharmaceuticals industry in the US expected to see average net income growth of 4.7% next year. Consensus price target down from US$98.00 to US$39.88. Share price rose 4.7% to US$2.47 over the past week. Price Target Changed • Nov 22
Price target decreased to US$39.88 Down from US$104, the current price target is an average from 2 analysts. New target price is 1,604% above last closing price of US$2.34. Stock is down 85% over the past year. The company is forecast to post a net loss per share of US$3.15 next year compared to a net loss per share of US$5.26 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: US$0.10 loss per share. Revenue: US$3.83m (up 108% from 3Q 2021). Net loss: US$5.79m (loss widened 153% from 3Q 2021). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Pharmaceuticals industry in the US. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 4 experienced directors. 1 highly experienced director. Independent Chairman Paul Freiman is the most experienced director on the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Nov 10
NovaBay Pharmaceuticals, Inc. to Report Q3, 2022 Results on Nov 14, 2022 NovaBay Pharmaceuticals, Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 14, 2022 Duyuru • Oct 27
Novabay Pharmaceuticals, Inc. Announces Newest Addition to the Dermadoctor Picture Porefect Collection 15% Niacinamide Pore Minimizing Serum NovaBay Pharmaceuticals, Inc. announced the newest addition to the DERMAdoctor Picture Porefect collection: 15% Niacinamide Pore Minimizing Serum. This new, high-potency formulation minimizes the size of visible facial pores while delivering free-radical-neutralizing antioxidants and collagen-supporting agents to reduce blackheads, skin discoloration, rough skin, acne, and oily or combination skin. Picture Porefect 15% Niacinamide Pore Minimizing Serum is formulated with proven dermatological ingredients including the antioxidant niacinamide (a form of vitamin B3) to help detoxify and cleanse pores and reduce inflammation, vitamin C to support the dermal collagen that keeps pores tight, zinc to help clarify pore-plugging skin oils, and peptides to help dermal collagen tighten pores and improve the appearance of fine lines and wrinkles. The serum is now available in a 1 fluid ounce pump bottle on Amazon.com and DERMAdoctor.com for $42. All DERMAdoctor products are scientifically formulated to provide measurable results for common skincare concerns that have been largely overlooked by the beauty industry and are hypoallergenic, non-irritating, non-drying, pH balanced and free of synthetic fragrance and dye. Duyuru • Oct 11
NovaBay Pharmaceuticals, Inc.’ Avenova and DERMAdoctor Products to be Featured During the October 11-12 Amazon Prime Early Access Sale NovaBay®Pharmaceuticals, Inc. announced that select Avenova brand products and all DERMAdoctor brand products will be featured with discounts to Amazon Prime members during the Amazon Prime Early Access Sale being held October 11-12, 2022. Avenova eyecare products are designed to support those who suffer from bacterial dry eye. Products offered during the Amazon Prime Early Access Sale will include the Avenova Lid & Lash Spray as a single unit or as a bundle with NovaWipes, and the Moist Heating Eye Compress Mask. Avenova products are highly rated on Amazon.com, with Avenova Lid & Lash Spray receiving 4.5 out of 5 stars from more than 12,000 reviews, including 85% of ratings at 4 stars or above. DERMAdoctor products were created by Audrey Kunin, MD, NovaBay’s Chief Product Officer and a board-certified dermatologist, and are designed to address common skincare problems often overlooked by the beauty industry. All DERMAdoctor products are cosmetically appealing and clinically proven without the use of animal testing. DERMAdoctor collections included in the Amazon Prime Early Access Sale include Ain’t Misbehavin, Calm Cool + Corrected, Kakadu C, KP Duty, Lucky Bamboo, Specialists, Urban Veil and Wrinkle Revenge. Duyuru • Oct 10
NovaBay Pharmaceuticals Receives NYSE American Notice Regarding Low Share Price NovaBay Pharmaceuticals, Inc. announced that on October 3, 2022 it received a notice from the NYSE American LLC that the Company’s common stock has been selling for a low price per share for a substantial period of time. As a result, pursuant to Section 1003(f)(v) of the NYSE American Company Guide, the Company must effect a reverse stock split of its common stock or otherwise demonstrate sustained price improvement within a reasonable period of time, which the NYSE American has determined to be no later than April 3, 2023, in order to continue its listing on the NYSE American. The Company intends to take steps to improve its stock price, which include the filing of a definitive proxy statement with the Securities and Exchange Commission (‘SEC’) to hold a Special Meeting of Stockholders (the ‘Special Meeting’) on November 10, 2022 seeking stockholder authorization of a reverse stock split at a ratio of between 1-for-10 and 1-for-35. The notice from the NYSE American has no immediate effect on the listing or trading of the Company’s common stock, and the common stock will continue to trade on the NYSE American. The Company expects that the reverse stock split, if approved by stockholders at the Special Meeting and effected, will increase the market price of its common stock, which the Company believes will enable it to satisfy the continued listing requirements of the NYSE American for the foreseeable future. In addition, the reverse stock split may improve the marketability and liquidity of its common stock, and appeal to a broader range of investors. Further, due to the number of shares of common stock underlying the securities issued, or to be issued, in connection with two financing transactions entered into on September 9, 2022, the NYSE American rules require the Company to seek stockholder approval prior to the issuance of those underlying shares. The additional capital from these transactions is expected to support implementation of the Company’s growth strategies. ‘Like other small publicly traded companies, NovaBay has faced challenging market conditions during 2022, prompting us to seek stockholder approval to effect a reverse stock split and to raise additional capital to fund our business strategy,’ said Justin Hall, NovaBay Chief Executive Officer. ‘That said, we are optimistic about our prospects for continued sales growth. We are building on established brands in the large and growing eyecare, skincare and wound care markets with differentiated products that are scientifically developed and clinically proven. We are executing on a commercial strategy featuring multiple product launches while leveraging new market opportunities and broadening distribution of our current products. Given the timing of implementing our growth initiatives and other anticipated favorable developments, we continue to expect topline growth through 2022 and into 2023.’ The definitive proxy statement was filed with the SEC on September 30, 2022 and is available here. All NovaBay stockholders of record at the close of business on the record date, September 13, 2022, are entitled to vote their shares of Company common stock at the Special Meeting. Every stockholder’s vote is important, regardless of the number of shares held, and the Company requests the prompt submission of votes. Major Estimate Revision • Sep 21
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$15.6m to US$14.9m. Losses expected to increase from US$0.08 per share to US$0.09. Pharmaceuticals industry in the US expected to see average net income growth of 0.1% next year. Consensus price target down from US$2.98 to US$2.80. Share price fell 21% to US$0.12 over the past week. Price Target Changed • Sep 20
Price target decreased to US$2.80 Down from US$3.10, the current price target is an average from 2 analysts. New target price is 2,193% above last closing price of US$0.12. Stock is down 81% over the past year. The company is forecast to post a net loss per share of US$0.08 next year compared to a net loss per share of US$0.15 last year. Duyuru • Sep 10
NovaBay Pharmaceuticals, Inc. announced that it expects to receive $3.25 million in funding NovaBay Pharmaceuticals, Inc. announced a private placement of 3,250 preferred stock at a price of $1,000 per preferred stock, Series A-1 warrants exercisable to purchase up to an aggregate of 18,055,557 shares of Company common stock at an exercise price of $0.18 per share and Series A-2 warrants exercisable to purchase up to an aggregate of 18,055,557 shares of Company common stock at an exercise price of $0.18 per share for gross proceeds of $3.25 million on September 9, 2022. The transaction is expected to close in the fourth quarter of 2022 on or about the date of effectiveness of Stockholder Approval and the Reverse Stock Split. The Series C Preferred Stock will initially be convertible into an aggregate of approximately 18,055,557 shares of Company common stock at a conversion price of $0.18 per share. After the closing of the transaction, the Series C Preferred Stock issued will be immediately convertible, the Series A-1 Warrants will be immediately exercisable and will expire six years following the closing date and the Series A-2 Warrants issued will be immediately exercisable and will expire eighteen months following the closing date. Major Estimate Revision • Aug 25
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$17.1m to US$15.6m. Losses expected to increase from US$0.07 per share to US$0.08. Pharmaceuticals industry in the US expected to see average net income decline 0.5% next year. Consensus price target down from US$3.10 to US$2.98. Share price fell 6.6% to US$0.25 over the past week. Price Target Changed • Aug 24
Price target decreased to US$2.98 Down from US$3.23, the current price target is an average from 2 analysts. New target price is 1,140% above last closing price of US$0.24. Stock is down 61% over the past year. The company is forecast to post a net loss per share of US$0.07 next year compared to a net loss per share of US$0.15 last year. Reported Earnings • Aug 12
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: US$0.041 loss per share. Revenue: US$3.05m (up 43% from 2Q 2021). Net loss: US$2.16m (loss widened 16% from 2Q 2021). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 108%, compared to a 16% growth forecast for the industry in the US. Duyuru • Aug 05
NovaBay Pharmaceuticals, Inc. to Report Q2, 2022 Results on Aug 11, 2022 NovaBay Pharmaceuticals, Inc. announced that they will report Q2, 2022 results on Aug 11, 2022 Duyuru • Jul 22
Novabay Pharmaceuticals, Inc. Announces Availability of Select Dermadoctor Products NovaBay®Pharmaceuticals, Inc. announced the availability of select DERMAdoctor products at two popular U.S. online retailers, Target.com and Urbanoutfitters.com. DERMAdoctor products are designed to address acne, aging skin, dark spots, dry skin, eczema, fine lines and wrinkles, enlarged pores, hyperhidrosis, keratosis pilaris, oily skin and rosacea, including for those with sensitive skin. Each formulation is designed to be elegant, hypoallergenic and highly effective while addressing multiple customer needs, all without the need for a prescription. All DERMAdoctor products are cosmetically appealing and clinically proven without the use of animal testing. DERMAdoctor sells its products through major retailers such as Macy’s, QVC and Costco, as well as through digital beauty retailers including SkinStore, Amazon.com and its own DERMAdoctor.com website. DERMAdoctor products are also available internationally through select distributors and retailers. Major Estimate Revision • May 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$19.5m to US$17.1m. EPS estimate reaffirmed at -US$0.07 per share. Pharmaceuticals industry in the US expected to see average net income growth of 9.5% next year. Consensus price target down from US$3.23 to US$3.10. Share price rose 3.6% to US$0.20 over the past week. Reported Earnings • May 13
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: US$0.002 loss per share (up from US$0.036 loss in 1Q 2021). Revenue: US$2.63m (up 46% from 1Q 2021). Net loss: US$111.0k (loss narrowed 93% from 1Q 2021). Revenue missed analyst estimates by 19%. Earnings per share (EPS) exceeded analyst estimates by 100%. Over the next year, revenue is forecast to grow 128%, compared to a 7.1% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Duyuru • May 10
NovaBay Pharmaceuticals, Inc. Expands DERMAdoctor Kakadu C and Calm Cool + Corrected Collections with New Anti-Aging Formulations NovaBay Pharmaceuticals, Inc. announced the expansion of its Kakadu C and Calm Cool + Corrected product lines with the introduction of next-generation products that are uniquely formulated with anti-aging ingredients to help reduce the appearance of wrinkles, fine lines, pores and discoloration.Kakadu C with 1% Retinol + 12% C Ferulic & E Complex combines high-potency retinol to resurface and exfoliate skin with vitamin C, ferulic acid and vitamin E to fight free radical damage into a sophisticated, highly effective hydrating emulsion. Kakadu C with 1% Retinol + 12% C Ferulic & E Complex is recommended to be applied sparingly with initial use of not more than every other night. Calm Cool + Corrected Bakuchiol Retinol Alternative Serum features high-performance bakuchiol, a natural alternative to retinol that delivers the powerful anti-aging benefits of increased cellular turnover and collagen production, but is gentle enough for sensitive skin. Mega-moisturizing polyglutamic acid, radiance-boosting vitamin B12 and natural AHAs for gentle exfoliation are added together with botanicals into a luxe serum with skin-soothing and calming benefits. Calm Cool + Corrected Bakuchiol Retinol Alternative Serum is recommended for application once daily. Kakadu C with 1% Retinol + 12% C Ferulic & E Complex is available in a 30 ml size for $75 and Calm Cool + Corrected Bakuchiol Retinol Alternative Serumis available in a 30 ml size for $58 at Amazon.com. Both products are available at dermadoctor.com, which also offers monthly auto delivery at a 15% discount along with free shipping. The Kakadu C product family features the skin indulging benefit of the Kakadu plum, one of the rich natural vitamin C sources known on earth, harvested in a remote Australian territory. Ounce per ounce, Kakadu plums contain on average 55 times more vitamin C than Florida oranges and help protect skin against pollutants, oxidative stress and free radical damage. Calm Cool + Corrected Bakuchiol Retinol Alternative Serum joins the recently launched Hydrating Cleansing Oil and Moisture Recover HA Serum as the new addition to DERMAdoctor’s Calm Cool + Corrected collection. This collection is designed to help soothe and comfort skin that’s prone to irritation, including those with eczema or rosacea. All DERMAdoctor products are clean, allergy-tested and hypoallergenic, free of synthetic dyes and cruelty-free with no animal testing. Duyuru • May 06
NovaBay Pharmaceuticals, Inc. to Report Q1, 2022 Results on May 12, 2022 NovaBay Pharmaceuticals, Inc. announced that they will report Q1, 2022 results After-Market on May 12, 2022 Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 3 experienced directors. 1 highly experienced director. Independent Chairman Paul Freiman is the most experienced director on the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Apr 03
NovaBay Pharmaceuticals, Inc. Introduces Hydrating Cleansing Oil to Its Dermadoctor Calm Cool + Corrected Product Line NovaBay®Pharmaceuticals, Inc. announced the launch of Hydrating Cleansing Oil as the newest product under the DERMAdoctor Calm Cool + Corrected brand. Hydrating Cleansing Oil is a soap-free, pH-balanced cleanser that moisturizes and removes makeup while keeping skin hydrated. It was created by Audrey Kunin, MD, NovaBay’s Chief Product Officer and a board-certified dermatologist, to deeply cleanse dry, sensitive or eczema-prone skin. Calm Cool + Corrected Hydrating Cleansing Oil is available in a 200 ml size for $30.00 at Amazon.com and dermadoctor.com, which also offers monthly auto-delivery at a 15% discount along with free shipping. The cleansing oil is applied to dry skin, followed by a splash of warm water and rubbing with fingertips in a gentle circular motion to transform the oil into a milky consistency prior to rinsing. Hydrating Cleansing Oil is a proprietary formulation of jojoba seed oil to calm and soothe skin, orange peel oil to add antiseptic and anti-aging benefits, hibiscus extract, which is rich in antioxidants with natural alpha-hydroxy acids to fight free radical damage, and mother of pearl extract to help brighten skin. It is infused with electrolytes, minerals and antioxidants to optimize skin health. Hydrating Cleansing Oil joins the recently launched Moisture Recover HA Serum as the newest additions to DERMAdoctor’s Calm Cool + Corrected collection, which is designed to help soothe and comfort skin that’s prone to irritation including eczema and rosacea. Like all Calm Cool + Corrected products, Hydrating Cleansing Oil is clean, allergy-tested and hypoallergenic, free of synthetic dyes and cruelty-free with no animal testing. Reported Earnings • Apr 01
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: US$0.15 loss per share (up from US$0.32 loss in FY 2020). Revenue: US$8.42m (down 15% from FY 2020). Net loss: US$6.56m (loss narrowed 41% from FY 2020). Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 124%, compared to a 16% growth forecast for the pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Duyuru • Mar 31
NovaBay Pharmaceuticals, Inc., Annual General Meeting, May 11, 2022 NovaBay Pharmaceuticals, Inc., Annual General Meeting, May 11, 2022, at 11:00 Pacific Daylight. Agenda: To elect two (2) Class III directors nominated by our Board of Directors to hold office for a term of three (3) years or until their respective successors are elected and qualified. The nominees for election are Paul E. Freiman and Swan Sit; to approve, on an advisory basis, the compensation of NovaBay’s named executive officers, as disclosed in this proxy statement; to ratify the appointment by our Audit Committee of WithumSmith+Brown, PC as independent registered public accounting firm for the fiscal year ending December 31, 2022; and to transact any other business that may properly come before the Annual Meeting or any adjournment or postponement thereof. Duyuru • Jan 30
Novabay Pharmaceuticals Announces Changes to Its Board of Directors NovaBay®Pharmaceuticals, Inc. announced the appointments of Audrey Kunin, M.D. and Julie Garlikov to the NovaBay Board of Directors. NovaBay also announces the resignation of Zhang Xinzhou (Paul) Li as a director. His vacancy is being filled by Yongxiang (Sean) Zheng. All changes to the Board of Directors are effective immediately and result in an increase to the size of NovaBay’s Board from six to eight members. Duyuru • Jan 12
Novabay Pharmaceuticals Expands Its Eyecare Product Portfolio with the Launch of Lubricating Eye Drops for the Immediate Relief of Dry Eye Symptoms NovaBay Pharmaceuticals, Inc. announces the expansion of its Avenova brand with the launch of its Lubricant Eye Drops. These lubricating eye drops feature innovative ingredients and a mode of action that’s new to the eyecare market and formulated to bring immediate relief to those who suffer from the symptoms of dry eye. The Lubricating Eye Drops are an especially good value when compared to competitors, with two 15ml bottles sold as a twin pack for $19.99. Dry eye is a medical condition that occurs when there are insufficient tears to lubricate and nourish the eye, according to the American Optometric Association. Tears are necessary for maintaining the health of the front surface of the eye and for providing clear vision. People with dry eyes may experience irritated, gritty, scratchy or burning eyes, as well as excess watering, blurred vision and the feeling that something is in their eyes. Breakeven Date Change • Jan 02
Forecast to breakeven in 2024 The 2 analysts covering NovaBay Pharmaceuticals expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$1.93m in 2024. Average annual earnings growth of 61% is required to achieve expected profit on schedule. Duyuru • Dec 15
Novabay Pharmaceuticals, Inc. Announces DERMAdoctor’s Calm Cool + Corrected Eczema Balm Receives National Eczema Association Seal of Acceptance NovaBay Pharmaceuticals, Inc. announces that DERMAdoctor’s Calm Cool + Corrected 1% Colloidal Oatmeal Eczema + Dermatitis Clinical Repair Balm has received the National Eczema Association (NEA) Seal of Acceptance™. The NEA Seal is granted in recognition of products that meet the NEA’s rigorous standards for providing benefits and improving the quality of life for people with eczema and sensitive skin. Calm Cool + Corrected Eczema + Dermatitis Clinical Repair Balm is part of DERMAdoctor’s Calm Cool + Corrected line of skin solutions, which were created to help soothe and comfort irritable skin. It is formulated with high-potency, dermatologist-recommended, eczema-active 1% colloidal oatmeal to help temporarily protect and relieve minor skin irritations and itching, together with an advanced complex of ceramides and essential lipids to aid in repairing vital skin barrier function and reduce moisture loss, and dermatologic botanicals that are rich in skin reparative essential fatty acids. Recent Insider Transactions • Dec 08
Chief Product Officer recently bought US$125k worth of stock On the 2nd of December, Audrey Kunin bought around 262k shares on-market at roughly US$0.48 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$426k more in shares than they have sold in the last 12 months. Price Target Changed • Dec 02
Price target increased to US$3.10 Up from US$2.85, the current price target is an average from 2 analysts. New target price is 495% above last closing price of US$0.52. Stock is down 18% over the past year. The company is forecast to post a net loss per share of US$0.21 next year compared to a net loss per share of US$0.31 last year. Major Estimate Revision • Dec 02
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 losses forecast to reduce from -US$0.21 to -US$0.18 per share. Revenue forecast steady at US$9.14m. Pharmaceuticals industry in the US expected to see average net income growth of 14% next year. Consensus price target up from US$2.62 to US$2.85. Share price rose 8.6% to US$0.52 over the past week. Reported Earnings • Nov 13
Third quarter 2021 earnings released: US$0.051 loss per share (vs US$0.08 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: US$1.84m (down 15% from 3Q 2020). Net loss: US$2.29m (loss narrowed 29% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 07
Price target increased to US$2.85 Up from US$2.58, the current price target is an average from 2 analysts. New target price is 397% above last closing price of US$0.57. Stock is down 25% over the past year. Major Estimate Revision • Aug 19
Consensus EPS estimates fall to -US$0.16 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from US$9.82m to US$9.65m. Losses expected to increase from -US$0.14 to -US$0.16. Pharmaceuticals industry in the US expected to see average net income growth of 14% next year. Consensus price target of US$2.58 unchanged from last update. Share price fell 7.1% to US$0.59 over the past week. Reported Earnings • Aug 14
Second quarter 2021 earnings released: US$0.044 loss per share (vs US$0.15 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: US$2.13m (down 47% from 2Q 2020). Net loss: US$1.86m (loss narrowed 59% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Executive Departure • Jul 28
Senior Manager & Controller Wang Xu has left the company On the 23rd of July, Wang Xu's tenure as Senior Manager & Controller ended after 2.1 years in the role. As of March 2021, Wang still personally held only 21.00k shares (US$19k worth at the time). A total of 2 executives have left over the last 12 months. Duyuru • Jun 12
FDA Declines to Review the NovaBay Pharmaceuticals, Inc.’s Emergency Use Authorization Request for the Test Kits NovaBay Pharmaceuticals, Inc. previously entered into an international distribution agreement, dated April 16, 2020, with Shenzhen Microprofit Biotech Co., LTD whereby Microprofit granted the Company exclusive rights to distribute SARS-CoV-2 IgG and IgM Antibody Combined Test Kits in the United States through December 31, 2021, subject to various assumptions including the approval by the U.S. Food and Drug Administration of such Test Kits. In accordance with the International Agreement, the Company has been assisting Microprofit in applying for approval of the Test Kits by the FDA. In connection with the International Agreement, the Company also entered into an intermediary distribution agreement, dated April 16, 2020, with Chongqing Pioneer Pharma Holdings Limited, as amended on June 29, 2020, for Chongqing to act as an intermediary between Microprofit and the Company in the distribution of the Test Kits if approved by the FDA. On June 7, 2021, the company was notified by the FDA that it declines to review the Company’s Emergency Use Authorization request for the Test Kits. As such, the Test Kits are not authorized to be distributed or used as proposed in the United States. Duyuru • May 18
NovaBay Pharmaceuticals, Inc. Launches First of Several New Products to Expand Avenova Line NovaBay Pharmaceuticals, Inc. announced the availability of i-Chek Illuminated Eye Examination Mirror on Amazon. i-Chek is a unique portable, lightweight, handheld lighted mirror featuring 10x magnification that is specifically designed for at-home precise visual resolution and high magnification of the eyes, eyelashes and eyelids. Additional uses for i-Chek include help with eliminating scleral contact lens bubbles and contact insertion misalignments, as well as helping to prevent eye infections when removing makeup. i-Chek features four LED ECO bulbs for more than 15,000 hours of use and a durable carrying case. The product is available on Amazon.com and Avenova.com for $29.99. The addition of i-Chek to the Avenova product line follows the launch of the Avenova Warm Eye Compress on Amazon.com and on Avenova.com in March 2021. Price Target Changed • May 13
Price target decreased to US$2.58 Down from US$2.83, the current price target is an average from 2 analysts. New target price is 319% above last closing price of US$0.61. Stock is down 35% over the past year. Reported Earnings • May 09
First quarter 2021 earnings released: US$0.036 loss per share (vs US$0.057 loss in 1Q 2020) The company reported a soft first quarter result with weaker revenues and control over costs, although losses reduced. First quarter 2021 results: Revenue: US$1.81m (down 4.5% from 1Q 2020). Net loss: US$1.52m (loss narrowed 4.0% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 29
Full year 2020 earnings released: US$0.32 loss per share (vs US$0.48 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: US$9.93m (up 52% from FY 2019). Net loss: US$11.0m (loss widened 5.3% from FY 2019). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings.