NovaBay Pharmaceuticals Reports 2019 Second Quarter Net Sales of $1.8 Million
July 29 2019 - 6:50AM
Business Wire
Company to hold second quarter 2019 conference
call on August 8
NovaBay® Pharmaceuticals, Inc.
(NYSE American: NBY), a biopharmaceutical company focusing on
commercializing Avenova® for the domestic eye care market, reports
net sales of $1.8 million for the three months ended June 30, 2019.
Avenova sales for the second quarter of 2019 were $1.6 million, a
9% increase from the first quarter of 2019.
“The increase in Avenova sales over the prior quarter is
particularly impressive given the 67% reduction we made to our
salesforce in March as part of a strategic shift to address the
trend toward high-deductible health plans,” said Justin Hall,
President and CEO. “Our ability to grow Avenova sales reflects
success with our strategy of deploying the remaining 15 sales
representatives in territories identified as having significant
prescription volume along with favorable reimbursement.
“We also benefitted from the expansion of our partner pharmacy
program, under which we sell Avenova at pre-negotiated unit prices
and significantly reduce the negative impact of rebates. I’m
pleased to report that this channel accounted for nearly half of
all Avenova units sold in the second quarter, up from about
one-quarter in the first quarter,” he added. “We also introduced
our new Avenova Direct channel whereby we are selling
prescription-strength Avenova directly to customers on Amazon. We
expect the greatest growth opportunity to come from this
channel.
“While Avenova sales grew for the quarter, we reduced operating
expenses by 47% from the first quarter. This is a huge testament to
the dedication of the NovaBay team,” said Hall.
Conference Call
NovaBay will report full financial results for the second
quarter of 2019 after market close on Thursday, August 8, 2019 and
will hold an investment community conference call that day
beginning at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to
discuss the Company’s financial and operational results and to
answer questions. Shareholders and other interested parties may
participate in the conference call by dialing 800-608-8202 from
within the U.S. or 702-495-1913 from outside the U.S., with the
conference identification number 6067542.
A live webcast of the call will be available at
http://novabay.com/investors/events and will be archived for 90
days. A replay of the call will be available beginning two hours
after the call ends through 11:59 p.m. Eastern time August 26, 2019
by dialing 855-859-2056 from within the U.S. or 404-537-3406 from
outside the U.S., and entering the conference identification number
6067542.
About Avenova®
Avenova is an eye care product formulated with our proprietary,
stable and pure form of hypochlorous acid. Avenova is designed for
removal of the microorganisms and debris that contribute to
conditions such as meibomian gland dysfunction, dry eye and
blepharitis. Avenova is marketed to optometrists and
ophthalmologists throughout the U.S. by NovaBay’s direct salesforce
and available online through www.Amazon.com.
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 the growth potential of our
various sales channels, our estimated future revenue, and generally
the Company’s expected future financial results. 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 the size of the potential market for our
products, improving sales rep productivity and product
distribution, obtaining adequate insurance reimbursement, 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-Q/K
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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Avenova Purchasing
Information For NovaBay Avenova purchasing information:
Please call 800-890-0329 or email sales@avenova.com.
www.Avenova.com
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version on businesswire.com: https://www.businesswire.com/news/home/20190729005170/en/
NovaBay Contact Justin Hall
President and Chief Executive Officer 510-899-8800
jhall@novabay.com
Investor Contact LHA
Investor Relations Jody Cain 310-691-7100 jcain@lhai.com
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