NovaBay Pharmaceuticals Announces Annual Meeting of Stockholders and Receives NYSE American Communication
April 17 2019 - 6:50AM
Business Wire
NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY), a
biopharmaceutical company focusing on commercializing prescription
Avenova® for the domestic eye care market, announces that it will
hold a virtual Annual Meeting of Stockholders on Thursday, May 30,
2019 at 5:00 p.m. Pacific time. Registered holders and beneficial
stockholders, who register for the meeting in advance, will be able
to participate in the meeting, vote and submit questions during the
meeting via a live webcast by visiting
www.meetingcenter.io/263757134.
The Company also notes that on April 12, 2019 it received notice
(the “Notice”) from the NYSE American LLC that it is not in
compliance with Section 1003(a)(iii) of the NYSE American Company
Guide requiring stockholders’ equity of $6.0 million or more if it
has reported losses from continuing operations and/or net losses in
its five most recent fiscal years. Therefore, the Company has
become subject to the procedures and requirements of Section 1009
of the NYSE American Company Guide and must submit a plan of
compliance by May 12, 2019 addressing how it intends to regain
compliance with Section 1003(a)(iii) of the NYSE American Company
Guide by October 12, 2020. The Notice has no immediate impact on
the listing of the Company's common stock and does not affect its
ongoing business operations or Securities and Exchange Commission
reporting requirements.
“We continue to have the full support of our majority
shareholders, as recently demonstrated by the consolidation of
their holdings,” said Justin Hall, Interim President and CEO. “It’s
gratifying to have their continued support, and we fully intend to
submit a plan to regain compliance with NYSE American listing
standards within the required time period.”
If the NYSE American accepts the plan, the common stock will
continue to be listed and traded on the NYSE American during that
specified period. If the Company does not regain compliance with
NYSE American listing standards, or does not make progress
consistent with the plan, the NYSE American staff may commence
delisting proceedings.
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 StatementsThis 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 our future listing on the NYSE, our ability to continue
as a going concern, 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 our
ability to remain a publicly listed company, maintain the support
of our majority shareholders, and ability to adhere to our approved
NYSE compliance plan. 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
InformationFor 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/20190417005241/en/
NovaBay ContactJustin
HallInterim President and Chief Executive
Officer510-899-8800jhall@novabay.com
Investor ContactLHA Investor
RelationsJody Cain310-691-7100jcain@lhai.com
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