· Fourth quarter total sales expected to slightly exceed $6 million, up 49% over fourth quarter of 2016
· Fourth quarter gross margin on Avenova product sales expected in the low 90% range
· Achieves 2017 revenue guidance with total expected sales reaching approximately $18 million, up 51% from prior year
EMERYVILLE, Calif. (January 8, 2018) – NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY), a biopharmaceutical company focusing on commercializing prescription Avenova® lid and lash hygiene for the domestic eye care market, announces that sales for the fourth quarter of 2017 are expected to slightly exceed $6 million, an increase of more than 49% over the prior-year period. Total revenue for the full year of 2017 is expected to be approximately $18 million, up 51% from 2017.
“We capped a highly productive year reporting record quarterly Avenova sales with 84% of those sales coming from our higher-margin retail-pharmacy channel,” said Mark M. Sieczkarek, NovaBay’s Chairman, President and CEO. “We are entering 2018 well positioned for continued growth with a product that physicians are using to manage the underlying cause of dry eye and blepharitis rather than simply addressing the symptoms. Our new strategy is underway with our sales and marketing resources more precisely targeting select prescribers in higher reimbursement regions, allowing us to cost-effectively optimize the number of units per prescriber and at higher rates of reimbursement. We are delighted to receive stockholders approval for a $10.3 million financing, which is expected to close early this year and will support our growth initiatives.”
NovaBay expects to report financial results for the fourth quarter of 2017 and to hold an investment community call in March 2018.
About NovaBay Pharmaceuticals, Inc.: Going Beyond Antibiotics®
NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company focusing on commercializing and developing its non-antibiotic anti-infective products to address the unmet therapeutic needs of the global, topical anti-infective market with its two distinct product categories: the NEUTROX® family of products and the AGANOCIDE® compounds. The Neutrox family of products includes AVENOVA® for the eye care market, NEUTROPHASE® for wound care market, and CELLERX® for the aesthetic dermatology market. The Aganocide compounds, still under development, have target applications in the dermatology and urology markets.
This release contains forward-looking statements that are based upon management’s current expectations, assumptions, estimates, projections and beliefs. Forward-looking statements include statements regarding, among other things, our current expectations about the Company’s future results, financial condition, goals, strategies, revenue, earnings, free cash flow, margins, prospects and/or outlook and are indicated by words or phrases such as “expect,” “expected,” “believe” and similar words or phrases. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or achievements to be materially different and adverse from those expressed in or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, risks and uncertainties relating to difficulties or delays in manufacturing, distributing, and selling the Company’s products, unexpected adverse side effects or inadequate therapeutic efficacy of our product, the uncertainty of patent protection for the Company’s intellectual property, and any potential regulatory problems. Other risks relating to NovaBay’s business, including risks that could cause results to differ materially from those projected in the forward-looking statements in this press release, are detailed in NovaBay’s latest Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, especially under the heading “Risk Factors.” The forward-looking statements in this release speak only as of this date, and NovaBay disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.
From the Company
Chief Financial Officer