NovaBay Reports 2016 Full Year And Fourth Quarter Financial Results And Provides 2017 Financial Guidance

EMERYVILLE, Calif.--(BUSINESS WIRE)--NovaBay® Pharmaceuticals, Inc. (NYSE MKT: NBY), a pharmaceutical company focusing on commercializing its prescription Avenova® lid and lash hygiene product for the domestic eye care market, reports financial results for the three and 12 months ended December 31, 2016 and provides 2017 financial guidance.

“We made major strides in a dramatic turnaround at NovaBay in 2016 with Avenova sales increasing 175% while we narrowed our operating loss by nearly half versus the prior year, allowing us to reach our goal of positive adjusted cash flow from operations in the month of December,” said Mark M. Sieczkarek, NovaBay’s President and CEO. “We realized across-the-board improvements in key operating metrics including prescribing physicians and reorder rates, and successfully implemented our marketing strategy to increase sales through the higher-margin prescription ophthalmology channel. By the fourth quarter more than 77% of our sales came from this channel, up from 68% in the prior quarter and up from 30% in fourth quarter of 2015. We executed on every promise made in 2016 to our stakeholders.

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