NovaBay Reports First Quarter 2017 Financial Results

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

“Avenova product sales for the quarter increased 165% over the prior year on record unit volume from our higher-margin prescription ophthalmology channel as we continued the effective implementation of our sales strategy,” said Mark M. Sieczkarek, NovaBay’s President and CEO. “Once again we achieved momentum among a range of key metrics, most notably with increases in the number of prescribing physicians and the average number of prescriptions per prescriber. We are therefore reaffirming our financial guidance for 2017.

“We are committed to growing Avenova sales this year and beyond as we capitalize on the large market for blepharitis that we believe is poorly served by competing products and remedies,” he added. “Our strategy includes expanding our salesforce and investing in clinical studies to support physician adoption, while simultaneously managing expenses. We expect our current financial resources to be sufficient to fund operations and our growth strategy throughout 2017.”