Core Insights - The Zacks rating system is valuable for individual investors as it focuses on earnings estimate revisions, which are closely linked to near-term stock price movements [1][2][3] - NovaBay Pharmaceuticals has seen a significant increase in earnings estimates, with the Zacks Consensus Estimate rising by 87.9% over the past three months [4] - The upgrade of NovaBay Pharmaceuticals to a Zacks Rank 2 (Buy) indicates positive sentiment regarding its earnings outlook, suggesting potential upward pressure on its stock price [7][8][12] Earnings Estimate Revisions - The correlation between earnings estimate revisions and stock price movements is strong, making it beneficial for investors to track these revisions [2][3] - NovaBay Pharmaceuticals' rising earnings estimates reflect an improvement in its underlying business, which is expected to drive the stock price higher [9][12] - The Zacks rating system maintains a balanced approach, with only the top 20% of stocks receiving favorable ratings based on earnings estimate revisions [7][17] Zacks Rank System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a proven track record of generating significant returns for top-rated stocks [10][13] - Stocks rated Zacks Rank 1 (Strong Buy) have historically achieved an average annual return of +25% since 1988, highlighting the effectiveness of the system [10] - NovaBay Pharmaceuticals' position in the top 20% of Zacks-covered stocks indicates its strong earnings estimate revision feature, making it a candidate for market-beating returns [12][17]

Core Insights - NioBay Metals Inc. has presented its year-end report highlighting its ongoing projects and financial activities [1][8]. Group 1: Project Updates - The Foothills project, focused on titanium exploration, has seen an exploration campaign conducted from May to August, with promising surface sample results [2]. - A drilling campaign for the Foothills project was executed from late October to early December, with results pending public release [2]. - The Crevier project, which involves niobium and tantalum, has initiated metallurgical testing with SGS, expected to conclude by the end of Q1-2025 [3]. - Objectives for the Crevier project include validating process changes, producing niobium oxalate through various methods, and generating samples for potential clients [4]. - The James Bay Niobium project is undergoing environmental characterization and consultations with the Moose Cree First Nation, mandated by the Ministry of the Environment, Conservation and Parks [5]. Group 2: Research and Development - NioBay has achieved significant results in 2024 through research on niobium and tantalum applications in the hydrogen sector, collaborating with institutions like the University of Waterloo and Université du Québec à Trois-Rivières [6]. Group 3: Corporate Developments - The company appointed Ms. Josianne Beaudry to its Board of Directors, enhancing its governance structure [7]. - NioBay successfully raised nearly $2 million through financings, primarily via flow-through shares, and received a $500,000 subsidy for metallurgical testing [8]. Group 4: Company Overview - NioBay aims to lead in developing mines with low carbon consumption and responsible environmental practices, emphasizing the importance of Indigenous community participation [9]. - The company holds a 100% interest in the James Bay Niobium Project and a 72.5% interest in the Crevier project, along with an option for an 80% interest in the Foothills project [10][11]. Group 5: Material Insights - Niobium is recognized for its ductility, malleability, and corrosion resistance, enhancing materials in various sectors, including mobility and energy [12]. - Titanium, known for its strength and low density, is crucial in aerospace applications and is increasingly used in battery components [13].

Financial Performance - The company reported a loss of $124 thousand for the nine months ended September 30, 2024, following the divestiture of DERMAdoctor[256]. - The company incurred net losses of $2.2 million and $1.8 million for the three months ended September 30, 2024 and 2023, respectively, and accumulated a deficit of $182.2 million as of September 30, 2024[276]. - The company reported a net loss from continuing operations of $5.9 million for the nine months ended September 30, 2024, compared to a net loss of $4.4 million for the same period in 2023[306]. - The company reported a net loss from continuing operations of $6.0 million for the nine months ended September 30, 2024, compared to a net loss of $5.5 million for the same period in 2023[311][312]. - The company incurred a loss of $0.9 million due to the DERMAdoctor divestiture for the nine months ended September 30, 2024, with no comparable activity in the prior year[301]. Revenue and Expenses - Product revenue, net, decreased by $0.1 million, or 2%, to $2.4 million for the three months ended September 30, 2024, compared to $2.5 million for the same period in 2023[288]. - Product revenue decreased by $0.9 million, or 11%, to $7.4 million for the nine months ended September 30, 2024, compared to $8.3 million for the same period in 2023[295]. - Revenue from eyecare products increased by $0.5 million to $7.2 million for the nine months ended September 30, 2024, from $6.7 million for the same period in 2023[296]. - Revenue from wound care products decreased by $1.3 million to $0.3 million for the nine months ended September 30, 2024, from $1.6 million for the same period in 2023[297]. - Sales and marketing expenses decreased by $0.4 million, or 25%, to $0.9 million for the three months ended September 30, 2024, due to digital marketing efficiencies[290]. - Sales and marketing expenses decreased by $0.7 million, or 18%, to $3.0 million for the nine months ended September 30, 2024, from $3.7 million for the same period in 2023[299]. - General and administrative expenses increased by $0.6 million, or 56%, to $1.7 million for the three months ended September 30, 2024, primarily due to increased legal costs related to strategic initiatives[291]. - General and administrative expenses increased by $1.2 million, or 28%, to $5.6 million for the nine months ended September 30, 2024, from $4.4 million for the same period in 2023[300]. - Cost of goods sold remained consistent at $0.8 million for the three months ended September 30, 2024, and September 30, 2023[289]. - Cost of goods sold decreased by $0.9 million, or 26%, to $2.5 million for the nine months ended September 30, 2024, from $3.4 million for the same period in 2023[298]. Asset Management and Financing - The company raised gross proceeds of $3.9 million from the 2024 Public Offering, which closed on July 29, 2024[266]. - The company entered into a Bridge Loan agreement for up to $1.0 million to support working capital, with a 10% interest rate[264]. - The company had total current assets of $2.3 million and total assets of $3.9 million as of September 30, 2024[276]. - As of September 30, 2024, the company's cash and cash equivalents were $0.8 million, down from $2.9 million as of December 31, 2023[306]. - Net cash provided by financing activities was $1.0 million for the nine months ended September 30, 2024, including net proceeds of $2.9 million from the 2024 Public Offering[314]. Strategic Initiatives - The company plans to pursue an Asset Sale Transaction and Dissolution, both subject to stockholder approval, to maximize stockholder value[277]. - The company has called a special meeting of stockholders on November 22, 2024, to approve the Asset Sale Transaction and potential dissolution[261]. - The company has experienced significant operational challenges, leading to the exploration of liquidation and dissolution options if the Asset Sale Transaction does not proceed[259]. - The company is exploring various strategic options to address liquidity needs, including raising additional capital and potential divestitures[310]. Compliance and Regulatory Matters - The company received notice from the NYSE American that it accepted its compliance plan, with a plan period through October 18, 2025[274]. - If the company does not regain compliance with NYSE American's listing standards by October 18, 2025, delisting procedures may be initiated[274]. Product Information - The company’s leading product, Avenova Spray, is cleared by the FDA and is available through online channels and eyecare professionals[254]. - The company’s wound care products, NeutroPhase and PhaseOne, are sold through distributors and are used in various medical applications[255]. - The company experienced seasonality in sales of Avenova Spray, with the first quarter typically being the lowest revenue quarter due to health insurance deductible changes[320]. Other Financial Information - The company had net operating loss carryforwards of $139.3 million for federal income tax purposes as of December 31, 2023, with $94.9 million set to expire in 2024[316]. - The company had no off-balance sheet arrangements as of September 30, 2024[319]. - The company’s investment policy aims for capital preservation and liquidity assurance, with minimal interest rate risk due to the short-term nature of its investment portfolio[324]. - The company has not had any material exposure to foreign currency rate fluctuations, focusing primarily on the domestic U.S. market[325].

Financial Data and Key Metrics Changes - Total net sales for Q2 2024 were $2.4 million, an 8% increase from the prior year, driven by higher sales of eyecare products [10] - Gross margin on net product revenue for Q2 2024 was 66%, up from 49% in Q2 2023, primarily due to increased sales of higher-margin eyecare products [10] - Net loss attributable to common stockholders for Q2 2024 was $1.6 million or $1.37 per share, compared to a net loss of $4 million or $44.43 per share in Q2 2023 [12] - For the first half of 2024, net sales were $5 million, down from $5.9 million in the same period of 2023 [13] Business Line Data and Key Metrics Changes - Sales from eyecare products for the first half of 2024 reached $4.8 million, compared to $4.4 million in the prior year [13] - Subscription sales accounted for approximately 24% of all online Avenova revenue for the first half of 2024 [6] - The number of Avenova Subscribe & Save customers on Amazon increased by 123% since the beginning of 2022 [5] Market Data and Key Metrics Changes - The U.S. dry eye market is expected to exceed $4.8 billion by 2030, driven by factors such as increased screen time and an aging population [7] - A survey indicated that over 80% of optometrists find dry eye diagnosis and treatment important for revenue generation, with dry eye expected to account for 43% of their clinical focus in the coming year [7] Company Strategy and Development Direction - The company is focusing on expanding its Avenova product portfolio to address the multifaceted nature of dry eye [6] - A strategic capital raise was completed to pursue potential transformative transactions [16] - The company aims to maintain efficient growth in the eyecare market while optimizing sales and marketing expenses through digital programs [16] Management's Comments on Operating Environment and Future Outlook - Management expects some orders for wound care products later in the year, but not as large as in 2023 [17] - The company anticipates a stronger Q4 due to seasonal pushes in the physician-dispensed channel and back-to-school promotions [23] - Management emphasized the importance of the physician-dispensed channel for customer acquisition and brand building [25] Other Important Information - The company had cash and cash equivalents of $0.8 million as of June 30, 2024, and raised approximately $3.9 million in a public offering [14] - Nonrecurring strategic initiative costs related to the DERMAdoctor divestiture impacted G&A expenses [13] Q&A Session Summary Question: Any commentary on revenue from wound care products? - Management expects some orders later this year but not as significant as in 2023 [17] Question: Insights on marketing strategy efficiencies? - The company shifted focus to retaining Subscribe & Save customers, reducing customer acquisition costs [18][19] Question: Portion of revenue from Subscribe & Save program? - Approximately 24% of online revenue comes from the Subscribe & Save program, with most customers purchasing monthly [21][22] Question: Expectations for Q3 and Q4 revenue? - Management anticipates incremental increases in Q3 and a stronger Q4 due to seasonal promotions [23] Question: Discussion on physician-dispensed channels? - The physician-dispensed channel is crucial for brand building and customer acquisition, feeding new customers into online sales [25][26] Question: Changes in distribution costs or advertising on Amazon? - Advertising costs have remained consistent, with no significant increases noted [32]

Financial Performance - Net losses for the three months ended June 30, 2024, were $1.6 million, compared to $4.0 million for the same period in 2023; for the six months ended June 30, 2024, net losses were $5.2 million, down from $5.8 million in 2023[201]. - The company incurred a loss of $0.9 million from the divestiture of DERMAdoctor for the six months ended June 30, 2024, with no comparable activity in the prior year[225]. - Net loss from continuing operations was $1.6 million for the three months ended June 30, 2024, compared to a net loss of $1.7 million for the same period in 2023, representing an improvement of $0.1 million or 8%[210]. - The company expects its 2024 expenses to exceed revenues, continuing to incur operating losses and negative cash flows until revenues support ongoing growth[230]. Revenue and Sales - Product revenue decreased by $1.1 million, or 32%, to $2.4 million for the three months ended June 30, 2024, compared to $3.5 million for the same period in 2023[213]. - Total sales decreased by $1.1 million, or 32%, to $2.4 million for the three months ended June 30, 2024, from $3.5 million in the prior year[213]. - Product revenue for the six months ended June 30, 2024, decreased by $0.8 million, or 14%, to $5.0 million from $5.9 million in the same period in 2023[221]. Costs and Expenses - Cost of goods sold decreased by $1.0 million, or 55%, to $0.8 million for the three months ended June 30, 2024, from $1.8 million for the same period in 2023[214]. - Cost of goods sold for the six months ended June 30, 2024, decreased by $0.9 million, or 35%, to $1.6 million from $2.5 million in the prior year[222]. - Sales and marketing expenses decreased by $0.2 million, or 13%, to $1.0 million for the three months ended June 30, 2024, from $1.2 million in the prior year[215]. - General and administrative expenses remained consistent at $1.6 million for the three months ended June 30, 2024, compared to $1.6 million for the same period in 2023[216]. - General and administrative expenses increased by $0.6 million, or 19%, to $3.9 million for the six months ended June 30, 2024, primarily due to increased legal costs[224]. Assets and Liabilities - As of June 30, 2024, the company had an accumulated deficit of $180.0 million, total current assets of $2.3 million, and total assets of $3.9 million[201]. - Cash and cash equivalents decreased to $0.8 million as of June 30, 2024, down from $2.9 million as of December 31, 2023[229]. - The company had net operating loss carryforwards of $139.3 million for federal income tax purposes as of December 31, 2023[237]. Compliance and Regulatory - The company received notifications from NYSE American regarding non-compliance with stockholders' equity requirements, reporting only $160 thousand as of March 31, 2024[198]. - The company has until October 18, 2025, to regain compliance with NYSE American's listing standards, following acceptance of its compliance plan[199]. Strategic Initiatives - The company expects to grow commercial sales of Avenova branded products through expanded domestic market penetration and partnerships with other eyecare product providers[201]. - The company is evaluating plans to address liquidity needs, including raising additional capital and potential strategic transactions[231]. Product Information - Avenova® Antimicrobial Lid and Lash Solution is cleared by the FDA and is available through online channels and eyecare professionals for treating blepharitis and dry eye disease[190]. - The company manufactures and sells hypochlorous acid products for wound care under the NeutroPhase and PhaseOne brands, targeting surgical procedures and various injuries[191]. Cash Flow - Net cash used in operating activities from continuing operations was $2.2 million for the six months ended June 30, 2024, compared to $2.9 million for the same period in 2023[232][233]. - Net cash provided by investing activities was $1.1 million for the six months ended June 30, 2024, primarily from the DERMAdoctor Divestiture[234]. - Net cash used in financing activities was $1.1 million for the six months ended June 30, 2024, including repayment of $1.2 million for the Monthly Redemption on Secured Convertible Notes[236]. Issuance Costs - The company incurred total issuance costs of $130 thousand related to the 2024 Subsidiary Guarantee Termination, with $19 thousand allocated to Unsecured Convertible Notes[196]. Fair Value Changes - Non-cash gain on changes in fair value of warrant liabilities was $114 thousand for the six months ended June 30, 2024, compared to a gain of $216 thousand for the same period in 2023[226]. - Non-cash loss on changes in fair value of embedded derivative liability was $18 thousand for the six months ended June 30, 2024, compared to a gain of $40 thousand for the same period in 2023[227]. - Accretion of interest and amortization of discounts on convertible notes increased to $0.7 million for the six months ended June 30, 2024, from $0.5 million for the same period in 2023[228].

Revenue Expectations - NovaBay Pharmaceuticals, Inc. announced preliminary second quarter 2024 net revenue expectations[15] - The company is expected to report significant growth in revenue compared to the previous quarter[15] Business Strategy - NovaBay is focusing on enhancing customer loyalty and satisfaction as part of its business strategy[9] - The company is actively pursuing new revenue sources and market expansion opportunities[9] - NovaBay is engaged in the development of new products and technologies to drive future growth[9] Financial Transparency - The management has indicated that forward-looking statements are subject to risks and uncertainties[9] - The company plans to provide detailed financial results in its upcoming filings[9] - NovaBay is committed to transparency regarding its financial condition and operational results[9] Stakeholder Communication - The press release is intended to inform stakeholders about the company's performance and outlook[15] - The company is classified as an emerging growth company under the Securities Act[14]

NovaBay Pharmaceuticals (NYSEMKT:NBY) stock is falling hard on Thursday after the eyecare and wound care company announced results from its annual shareholder meeting. Included among the proposals in the annual shareholder meeting was a reverse stock split. Traders voted in favor of allowing the company's Board of Directors to enact a reverse split of NBY shares. Following that, NovaBay Pharmaceuticals announced that its Board has approved a one-for-35 reverse stock split for NBY. This will combine 35 share ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher." Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33678 NOVABAY PHARMACEUTICALS, INC. (Exact name of registrant as specified in its charter) Delaware 68-0454536 ...

Financial Data and Key Metrics Changes - Total sales for Q4 2023 increased by 2% to $3.7 million compared to the prior year, driven by higher sales in eye care and wound care products [7][21] - Gross margin on net product revenue was 49% for Q4 2023, slightly up from 48% in Q4 2022 [7] - For the full year 2023, total sales net were $14.7 million, an increase of 2% versus 2022, with eye care and wound care segment sales growing by 9% [23][59] - Net loss attributable to common stockholders for Q4 2023 was $9.2 million, or $1.33 per share, compared to a net loss of $8.2 million, or $4.33 per share in Q4 2022 [58] Business Line Data and Key Metrics Changes - The eye care and wound care segment contributed $2.8 million to Q4 2023 sales, while the skincare segment contributed $0.9 million [21] - Year-over-year sales of the eye care and wound care segment grew 9%, driven by higher Avenova sales through physician dispense and OTC channels [23] - Sales and marketing expenses decreased by 17% in 2023, reflecting reduced digital marketing costs [9][57] Market Data and Key Metrics Changes - Subscription-based sales on Amazon and avanova.com accounted for 24% of all online sales in 2023, up from approximately 14% in 2022 [5] - The company is expanding into the EU market through partnerships with distributors, leveraging its established brand [12] Company Strategy and Development Direction - The company has streamlined its operations by divesting the DERMAdoctor skincare business to focus on higher growth opportunities in the eye care segment [4][60] - A new co-marketing agreement with Eyenovia aims to enhance the marketing of Avenova and leverage the FDA-approved Clobetasol product [6][20] - The strategy for 2024 emphasizes leveraging the physician dispense channel to increase Avenova brand visibility and sales [30][44] Management's Comments on Operating Environment and Future Outlook - Management acknowledged uncertainty in the broader economy affecting operations and financial results, emphasizing the need for adaptability [2] - The company is optimistic about the growth potential of Avenova and plans to focus on partnerships for product innovation rather than in-house R&D [32][54] Other Important Information - Cash and cash equivalents stood at $3.1 million as of December 31, 2023, with $1.1 million received from the DERMAdoctor divestiture [24] - Non-cash impairment charges related to the DERMAdoctor business were recorded at $2.6 million for 2023 [9][22] Q&A Session Summary Question: Can you discuss the partnership with Sonoma and EU expansion? - The company is working with Sonoma to expand into the EU by approaching various distributors [12] Question: Will revenue breakdowns by distribution channel be provided? - The company typically does not break out revenues by distribution channel but may provide commentary as sales grow [13] Question: What is the focus for new product launches? - The company will not focus on new product development internally but will seek innovation through partnerships [48] Question: How is the digital marketing strategy changing for 2024? - The strategy has shifted from direct-to-consumer sales to leveraging physician recommendations and partnerships for growth [31][44]