NovaBay Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:11 pm EST
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NovaBay Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 3.27 million compared to USD 3.83 million a year ago. Net loss was USD 1.76 million compared to USD 0.136 million a year ago. Basic loss per share from continuing operations was USD 0.37 compared to USD 3.61 a year ago.
For the nine months, revenue was USD 11 million compared to USD 10.76 million a year ago. Net loss was USD 5.53 million compared to USD 2.4 million a year ago. Basic loss per share from continuing operations was USD 2.27 compared to USD 5.32 a year ago.
NovaBay Pharmaceuticals, Inc. develops and sells scientifically created and clinically proven eyecare and wound care products. Its product, Avenova Antimicrobial Lid and Lash Solution, has antimicrobial properties as it removes foreign material including microorganisms and debris from the skin around the eye, including the eyelid. It offers a portfolio of products for each step of the standard at home treatment regimen, including the Avenova Eye Health Support antioxidant-rich oral supplement, Avenova Lubricating Eye Drops for instant relief, NovaWipes by Avenova, Avenova Warm Eye Compress to soothe the eyes, and the i-Chek by Avenova to monitor physical eyelid health. It also manufactures and sells its proprietary form of hypochlorous acid for the wound care market with its NeutroPhase and PhaseOne branded products. NeutroPhase and PhaseOne are used for cleansing and irrigation as part of surgical procedures, as well as treating certain wounds, burns, ulcers and other injuries.