NovaBay Pharmaceuticals show 13% rise in eyecare and wound care segment - prelim report

NovaBay Pharmaceuticals, a biopharmaceutical company specializing in the development of prescription Avenova antimicrobial lid and lash solution for the eye care market and NeutroPhase solution for the wound care market, reported a 13% increase in revenue for both its eye care and wound care segments during the preliminary results for the fourth quarter of 2022. This growth was driven by strong demand for their products, particularly in the eye care segment, where Avenova continues to gain traction with both healthcare providers and patients.

Avenova is a preservative-free, sterile, single-use, antimicrobial lid and lash solution indicated for the treatment of bacterial Demodex (eyelash mites) blepharitis, which is a common condition that causes inflammation of the eyelids. The product is applied daily to the eyes as part of a comprehensive eyelid hygiene routine to help reduce the signs and symptoms of blepharitis, including redness, itching, and crusting.

In the wound care market, NeutroPhase is a sterile, preservative-free solution that provides rapid, effective cleansing of wounds, including surgical, traumatic, and chronic wounds, as well as burns. NeutroPhase's unique mechanism of action, which involves the release of hypochlorous acid, a naturally occurring molecule, helps to neutralize bacteria, reduce inflammation, and promote healing.

The strong performance of both Avenova and NeutroPhase during the fourth quarter of 2022 is a positive sign for NovaBay Pharmaceuticals, as it indicates that the company's focus on developing innovative products for the eye care and wound care markets is paying off. The company will release its full financial results for the fourth quarter and full year 2022 in the coming weeks, providing more detailed information on the financial performance of its eye care and wound care segments, as well as its overall business outlook for the future.

In summary, NovaBay Pharmaceuticals reported a 13% increase in revenue for both its eye care and wound care segments during the preliminary results for the fourth quarter of 2022, driven by strong demand for its products, particularly Avenova in the eye care market, and NeutroPhase in the wound care market. The company will release its full financial results in the coming weeks, providing more detailed information on the financial performance of its segments and its overall business outlook for the future.