NovaBay Pharmaceuticals, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Fiscal Year 2023
March 14, 2024 at 08:00 am
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NovaBay Pharmaceuticals, Inc. provided earnings guidance for the fourth quarter and full fiscal year 2023 . For the quarter, company expects to report net sales of $3.7 million. Operating loss for the fourth quarter of 2023 is expected to be approximately $3.2 million, due primarily to the $2.7 million loss in the DERMAdoctor skincare segment.
For the year, company expected to report net sales of $14.7 million. Operating loss for the 2023 fiscal year is expected to be approximately $7.4 million, which includes a $3.8 million loss in the DERMAdoctor skincare segment.
NovaBay Pharmaceuticals, Inc. is a pharmaceutical company that develops and sells consumer products for the eyecare and skincare markets. The Company's lead product, Avenova Antimicrobial Lid and Lash Solution (Avenova Spray), is proven in laboratory testing to have antimicrobial properties as it removes foreign material, such as microorganisms and debris from the skin around the eye, including the eyelid. Avenova Spray is formulated with its form of hypochlorous acid and is cleared by the United States Food and Drug Administration (FDA) for sale in the United States. Its other eyecare products offered under the Avenova eyecare brand include Novawipes by Avenova, Avenova Lubricant Eye Drops, Avenova Moist Heating Eye Compress and the i-Chek. Avenova Spray is available both over-the-counter and as a prescription. Avenova Spray is also available at optometrists and ophthalmologists offices; at national pharmacy chains across all over 50 states, and through its Partner Pharmacy Program.