Скачать или смотреть NovaBay Pharmaceuticals, Inc. (NBY)

NovaBay Pharmaceuticals, Inc. (NYSE American: **NBY**) has undergone significant corporate restructuring throughout 2024 and 2025.

As of late 2025, the company has effectively **sold its core business operations**, avoided a planned dissolution, and is currently operating under new leadership with a focus on identifying new strategic mergers or asset acquisitions.

Here is the current state of the company:

1. *Current Corporate Status: A Strategic Pivot*

NovaBay is no longer operating as a traditional commercial pharmaceutical company. Instead, it acts as a publicly traded vehicle seeking new business opportunities.

*Sale of Core Business:* In early 2025, NovaBay completed the sale of its flagship eyecare business (including the *Avenova* brand) to *PRN Physician Recommended Nutriceuticals, LLC* for approximately $11.5 million.
*Change in Direction:* Following the asset sale, the company initially attempted to liquidate and dissolve. However, after struggling to obtain sufficient shareholder votes to approve dissolution, the company pivoted.
*New Leadership:* In August 2025, private investor *David E. Lazar* invested $6 million into the company and was appointed CEO. His strategy is to utilize the company's public listing to find a merger partner or new business assets (often referred to as a "reverse merger" strategy).

2. *Key Products (Formerly Owned)*

While NovaBay no longer owns these assets, its reputation was built on products based on pure **hypochlorous acid (HOCl)**:

*Avenova:* An antimicrobial lid and lash spray for conditions like blepharitis and dry eye. This was the company's primary revenue driver.
*NeutroPhase:* A wound cleanser for chronic non-healing wounds.
*CelleRx:* A product line for cosmetic and post-procedure skin care.
Note: These products are now under the ownership of PRN or other acquirers.

3. *Recent Financial & Stock Developments*

The stock has seen high volatility due to these corporate actions.

*Stock Symbol:* *NBY* (NYSE American)
*Reverse Stock Split:* To maintain listing compliance, NovaBay executed a *1-for-35 reverse stock split* in May 2024.
*Special Dividend:* In August 2025, following the asset sale and capital restructuring, the company declared a one-time special cash dividend of **$0.80 per share**.
*Listing Compliance:* As of October 2025, NovaBay announced it had regained compliance with NYSE American listing standards, stabilizing its status on the exchange.

4. *Summary of Recent Timeline*

| Date | Event |
| --- | --- |
| *May 2024* | Executed 1-for-35 reverse stock split to boost share price. |
| *Jan 2025* | Completed sale of Avenova/Eyecare business to PRN. |
| *Early 2025* | Attempted to pass shareholder votes to dissolve the company (failed to reach required threshold). |
| *Aug 2025* | David Lazar invests $6M; becomes CEO. Dissolution plans abandoned. |
| *Aug 2025* | Declared special cash dividend of $0.80/share. |
| *Oct 2025* | Regained full compliance with NYSE American listing rules. |

*Future Outlook*

NovaBay is now essentially a "shell" company with a clean balance sheet and a stock exchange listing. Investors looking at NBY now are speculating on **what business David Lazar will merge into the company next**. This makes the stock highly speculative, as its value depends entirely on the quality of a future, yet-to-be-announced acquisition or merger.