NovaBay (NBY) Reports 2016 Third Quarter Financial Results
11/11/2016 12:59:23 PM
EMERYVILLE, Calif.--(BUSINESS WIRE)--NovaBay® Pharmaceuticals, Inc. (NYSE MKT: NBY), a biopharmaceutical 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 nine months ended September 30, 2016, and provides a business update.
“This is an exceptional time at NovaBay as we achieved yet another quarter of record Avenova sales, growing 176% over the third quarter of 2015 and up 20% from the second quarter of 2016, and putting us on an estimated annualized run rate of $12 million,” said Mark M. Sieczkarek, NovaBay’s President and CEO. “Importantly, 68% of Avenova sales came from the higher-margin prescription ophthalmology channel. This is a 25% increase in prescription sales from the second quarter as we continue to execute on our channel strategy.
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