NovaBay Pharmaceuticals (NBY) stock recently traded at $0.92 which is a 4.20% upward movement. The NBY stock previously closed at $0.87.
The pattern of positive movement in recent trading session comes along with the announcement made by NovaBay Pharmaceuticals (NBY) about its Avenova being available now on Amazon.com and Avenova.com.
Glimpse into the workings of the biopharmaceutical company
NovaBay Pharmaceuticals, Inc. (NBY) is a biopharmaceutical company that is focused on creating anti-infective consumer products which are of high-end and unmatched efficacy in the market. Specifically for the development of high-end anti-infective consumer product, NovaBay Pharmaceuticals (NBY) use hypochlorous acid as the main formula ingredient. This hypochlorous acid is patented and is stable pharmaceutical grade quality. This acid is effective in creating the same efficacy as antimicrobial chemicals used by white-blood cells to fight infection.
What are the main products of NovaBay (NBY)
NBY stock has many consumer health products. Most popular of its consumer products consist of Avenovawhich is a proprietary antimicrobial lid and lash spray. The second is CelleRx Clinical Reset which is a more beauty oriented cosmetic product. The third is NeutroPhase which is a disinfectant that cleans and repairs skin wounds.
NovaBay has started commercialization of Avenova. NBY stock has specifically released Warm Eye Compress which is going to be available on the online platforms. Avenova Warm Eye Compress can be used together with Avenova anti-microbial spray.
What makes Avenova anti-microbial spray and Warm Eye Compress a good combo?
What is unique about Avenovaanti-microbial is that it is the only commercially available Hypochlorous acid which has a bonus feature of being clinically proved to reduce bacteria on ocular skin surface. It is used to mostly get rid of bacterial dry eye.
Warm Eye Compress helps get rid of the dryness in the eye which causes inadequate lubrication and can cause tear production to become poor quality. Why this happens, is mainly a symptom of bacterial dry eye.
Warm Eye Compress when used with a combination of Avenova anti-microbial spray allows eyes to restore their own natural defense ocular dryness and improve tear production quality. Avenova’s Warm Eye Compress does this by stimulating meibomian glands that are in the tear-ducts. The glands then produce tears which clean it up and retain the natural oils in the eye. These natural oils then prevent the evaporation of the tear while the Compress overall improves the blood circulation of the eyes.
Full year financial report and overlook of the NBY stock
Previously on 25th March, The NBY stock released the quarterly and full-year 2020 report of its financial results. The Fourth Quarter sales had reached a new record which was driven primarily by online sales, as is the setting trend of the year 2020 due to the pandemic.
NovaBay has overall performed impressively in the year 2020 in which its net product revenue was $9.9 million; a 51% increase from 2019’s net product revenue. NBY stock also exited 2020 with 12$ million cash and cash equivalents. The solid fundamentals have allowed NBY stock to expand its market reach to CVS stores and CVS online. Solid fundamentals and a plan of effective operation expansion is what attracts investors for the long term.