This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

NovaBay Pharmaceuticals Provides Second Quarter 2012 Financial Results

Recent Highlights

  • Received FDA guidance at successful end-of-phase 2a meeting for NVC-422 program for treating impetigo; phase 2b study to initiate in the third quarter 2012  
  • Expanded global Aganocide® patent estate with seven new patents  
  • Initiated BAYnovation Phase 2b study for adenoviral conjunctivitis with first patients enrolled in the U.S. Enrollment continues to grow on target.

EMERYVILLE, Calif., Aug. 9, 2012 (GLOBE NEWSWIRE) -- NovaBay Pharmaceuticals, Inc. (NYSE Amex:NBY), a clinical-stage biotechnology company developing novel anti-infective products for the treatment and prevention of microbial infections, today reported second quarter financial results for the period ended June 30, 2012.

Dr. Ron Najafi, Chairman and CEO, remarked, "We have made significant progress across our development pipeline. NovaBay now has Phase 2b clinical trials underway for conjunctivitis and urinary catheter blockage and encrustation, UCBE, and we expect our partner, Galderma, to begin their global Phase 2b for impetigo by the end of Q3, 2012. Our phase 2b study for adenoviral conjunctivitis began enrolling patients during the quarter and enrollment will continue to grow through completion in Q2 next year. We've also completed our end of Phase 2a meeting with the FDA for our impetigo program with our partner Galderma and we believe we are on track to commence our phase 2b in the third quarter 2012."

Second Quarter Financial Results

As of June 30, 2012, the Company's cash, cash equivalents and short-term investments totaled $10.4 million, compared to $14.1 million at the end of 2011. This decrease in cash was anticipated as the Company began its Phase 2b conjunctivitis trial, provided support for Galderma regarding the Phase 2b impetigo trial and continued its clinical trial for NVC-422 in urinary catheter blockage and encrustation (UCBE).

NovaBay's license and collaboration revenue for the three and six months ended June 30, 2012,were $856,000 and $2.2 million, respectively, compared to $4.5 million and $7.0 million in the corresponding periods in 2011. This decrease was attributed to termination of the Company's agreement with former partner Alcon, for which NovaBay received semi-annual support payments and a $2.0 million termination payment in 2011.

1 of 3

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,962.36 +249.70 1.41%
S&P 500 2,081.72 +20.70 1.00%
NASDAQ 4,929.1860 +37.9670 0.78%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs