NovaBay Pharmaceuticals Joins the Russell Microcap Index
June 26 2017 - 6:50AM
Business Wire
NovaBay® Pharmaceuticals, Inc. (NYSE MKT:NBY), a
biopharmaceutical company focusing on commercializing prescription
Avenova® lid and lash hygiene for the domestic eye care market,
announces that it has joined the Russell Microcap® Index. Each
June, the Russell Microcap Index is realigned and recalibrated to
reflect market changes during the past year with membership
primarily determined by objective, market-capitalization rankings
and style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. According to FTSE Russell,
approximately $8.4 trillion in assets are benchmarked against
Russell’s U.S. indexes.
“Joining the Russell Microcap Index is expected to contribute to
increased investor awareness and broaden our investor base as we
continue to build the market for Avenova,” said Mark M. Sieczkarek,
NovaBay’s President and CEO. “We attribute our inclusion to the
dramatic strides we’ve made in our turnaround since directing our
focus on Avenova commercialization in late 2015. Our outlook for
2017 is for continued growth with sales to increase 60%
year-over-year to $19 million, gross margin on Avenova product
sales in the high 80% range and cash burn of $3 million.”
More information on the Russell Microcap® Index is available on
the “Russell Reconstitution” section of the FTSE Russell
website.
About NovaBay Pharmaceuticals, Inc.: Going Beyond
Antibiotics®
NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company
focusing on commercializing and developing its non-antibiotic
anti-infective products to address the unmet therapeutic needs of
the global, topical anti-infective market with its two distinct
product categories: the NEUTROX® family of products and the
AGANOCIDE® compounds. The Neutrox family of products includes
AVENOVA® for the eye care market, NEUTROPHASE® for wound care
market, and CELLERX® for the aesthetic dermatology market. The
Aganocide compounds, still under development, have target
applications in the dermatology and urology markets.
Forward-Looking Statements
This release contains forward-looking statements that are based
upon management's current expectations, assumptions, estimates,
projections and beliefs. These statements include, but are not
limited to, statements regarding any potential benefit or
deleterious effect of being included in the Russell Microcap Index,
inclusive of any possible effect that would have generally on the
Company’s expected future financial results. Forward-looking
statements can be identified with words like (and variations of):
“expect”,” and “outlook.” These statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results or achievements to be materially different and
adverse from those expressed in or implied by the forward-looking
statements. Factors that might cause or contribute to such
differences include, but are not limited to, risks and
uncertainties relating to difficulties or delays in manufacturing,
distributing, and selling the Company's products, unexpected
adverse side effects or inadequate therapeutic efficacy of our
product, the uncertainty of patent protection for the Company's
intellectual property, and any potential regulatory
problems. Other risks relating to NovaBay’s business,
including risks that could cause results to differ materially from
those projected in the forward-looking statements in this press
release, are detailed in NovaBay's latest Form 10-K and Form 10-Q
filings with the Securities and Exchange Commission, especially
under the heading "Risk Factors." The forward-looking
statements in this release speak only as of this date, and NovaBay
disclaims any intent or obligation to revise or update publicly any
forward-looking statement except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170626005344/en/
NovaBay ContactsFor
NovaBay Avenova purchasing information, please:Call us toll
free: 1-800-890-0329or email
sales@avenova.comwww.Avenova.comorFrom the
CompanyThomas J. PaulsonChief Financial
Officer510-899-8809Contact TomInvestor
Contact:LHAJody Cain310-691-7100Jcain@lhai.com
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