NovaBay Pharmaceuticals, Inc. (NYSE: NBY) is engaged as a biopharmaceutical company, which is focused on the research, development, and commercialization of non-antibiotic, anti-infective products. Shares of the biopharma company surged 29.78%, during trading on Monday, November 18, 2019. Over the past three months, NovaBay Pharmaceuticals has seen average daily volume of 889,190 shares. However, volume of 11.32 million shares or dollar volume of $7.47 million, exchanged hands during trading on Monday.
Shares of NovaBay Pharmaceuticals climbed on Monday, after the company announced that it has launched its NovaSight daily vitamin for ocular health, on Amazon.com. The NovaSight product was created to be a companion product to its Avenova Direct, a prescription-strength lid and lash spray already listed on Amazon. The NovaSight daily vitamin has 23 active ingredients, which is “more than twice the number as a leading branded eye vitamin and mineral supplement,” according to the company. Here is the full press release detailing of the Amazon product launch:
NovaBay Pharmaceuticals, Inc. Press Release:
EMERYVILLE, Calif.–(BUSINESS WIRE)–
NovaSight complements Avenova® Direct for comprehensive internal and external eye health
NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY) announces the launch of NovaSight™, a proprietary daily vitamin and mineral supplement specially formulated to support ocular health, on Amazon.com. NovaSight is a companion product to Avenova®Direct, NovaBay’s prescription-strength lid and lash spray available on Amazon.com without a prescription.
NovaSight was formulated by well-known, board-certified ophthalmologist Robert Abel, Jr., M.D., to replenish vital eye nutrients. NovaSight contains 23 active ingredients, more than twice the number as a leading branded eye vitamin and mineral supplement, and more than three times as many as other popular eye brands.
NovaSight also contains a higher level of lutein than several popular brands. Lutein, a xanthophyll and one of 600 known naturally occurring carotenoids, is synthesized only by plants. Like other xanthophylls, lutein is found in high quantities in green leafy vegetables such as spinach, kale and yellow carrots. It is known to improve or even prevent age-related macular degeneration, a leading cause of blindness and vision impairment, and has also been identified as lowering the risk of cataracts.
“As an ophthalmologist with a background in both traditional medicine and nutrition, I’m delighted to make NovaSight readily available on Amazon.com to help consumers focus on ocular health,” said Dr. Abel. “In addition to its comprehensive formulation, unlike other leading brands, NovaSight has safe levels of zinc and no copper. Recent medical reports suggest an association between copper and an increased risk of memory loss and Alzheimer’s disease. Furthermore, ingesting more than 30 mgs of zinc can inhibit the absorption of important minerals such as calcium, magnesium, iodine, selenium and boron. By partnering with Amazon.com, we are making a significant vitamin formulation available to the consumer at a very reasonable price.”
“We are delighted to be partnering with Dr. Abel to commercialize this high-quality ocular vitamin and supplement product as a complement to Avenova Direct,” said Justin Hall, NovaBay CEO. “Avenova is proven to treat the underlying causes of blepharitis and bacterial dry eye. Using NovaSight in combination with Avenova supports our goal of providing consumers with the products they need to keep their eyes healthy, both inside and out. NovaSight is one of several near-term line extensions and complementary products we plan to introduce to drive cost-effective growth and leverage our distribution infrastructure.”
About Dr. Robert Abel, Jr.
Dr. Abel earned his medical degree at Jefferson Medical College in 1969, completed his ophthalmology residency at Mt. Sinai Hospital and was a Cornea Fellow at the University of Florida. A board-certified ophthalmologist, Dr. Abel is on the staff of the Christiana Care Health System. He is the founding member and President of Delaware Ophthalmology Consultants. He is a former Clinical Professor of Ophthalmology at Thomas Jefferson University, and founded and several local and international eye banks. He teaches locally and internationally on numerous subjects, including cornea, cataract and nutrition. He co-founded and instructed the Cornea Microsurgery Workshops at the American Academy of Ophthalmology and has been on the Academy’s Committee of International Ophthalmology.
Dr. Abel has done active research on corneal transplants, corneal pathology, contact lenses and drugs as they relate to the eye. He holds two patents on artificial corneas and has received the AAO Honor Award and the Senior Honor Award. Dr. Abel recently authored “The Eye Care Revolution,” which teaches patients how to treat and reverse common vision problems. He has written and published several other books on a variety of topics. Dr. Abel is currently working in Southern Africa to improve eyecare availability.
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.
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 our business strategies and future focus, the launch of a new product and the impact it may have on our 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, potential uses of our product, market acceptance, 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.