This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NovaBay Pharmaceuticals Provides Fourth Quarter And Full Year 2010 Financial Results And Business Unit Updates

NovaBay's license and collaboration revenue for the year ended December 31, 2010 decreased to $9.8 million compared to $15.7 million a year ago. License and collaboration revenues for the fourth quarter ended December 31, 2010 decreased to $3.0 million from $7.5 million in the fourth quarter of 2009. This decrease was due to milestone payments of $3.75 million from Galderma S.A. received in the fourth quarter of 2009 and $1.0 million from Alcon received the in first quarter of 2009, which were not repeated in 2010 and the amortization of our upfront payments from Galderma and Alcon ending during 2010.

Net loss for 2010 was $4.3 million, compared with a net income in 2009 of $2.7 million. NovaBay reported net income of $161,000 or $.01 cents per diluted share for the fourth quarter, compared with a net income of $3.4 million or $.14 cents per share in the same quarter a year ago. This change was primarily a result of the revenues changes noted above.

Total research and development expenses increased 17% to $8.6 million in 2010 from $7.3 million in 2009. For the fourth quarter, NovaBay reported research and development expenses of $2.0 million, compared to $2.5 million in the same quarter a year ago. The overall increases were due to further progress of the Company's multiple clinical trials As the Company moves forward in its strategy to develop programs in the four business segments it is targeting, NovaBay expects to continue to see increasing R&D and clinical trial costs.

Management Comment:

"2010 was a transformational year for NovaBay as we announced our first human proof of concept in a 129-patient, Phase 2a impetigo skin infection study. The results showed 92% of the patients in NovaBay's highest dose were cured of this highly contagious skin infection following seven days of treatment with NovaBay's lead Aganocide topical gel. Importantly, patients in the study infected with MRSA were successfully treated," said Dr. Ron Najafi, chairman and CEO of NovaBay.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.91 +93.33 0.53%
S&P 500 2,081.34 +12.58 0.61%
NASDAQ 4,997.4590 +5.5190 0.11%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs