NovaBay's license and collaboration revenue for the year ended December 31, 2012 was $6.9 million, compared to $11.0 million a year ago. License and collaboration revenues for the fourth quarter ended December 31, 2012 remained relatively consistent at $1.1 million, compared to $1.2 million in the fourth quarter of 2011. The full-year decrease for 2012 compared to the same periods in 2011 is attributed to the termination in 2011 of the Alcon agreement and was partially offset by upfront licensing fees and milestones payments received in 2012 from other collaboration partners.Total research and development expenses increased by 6.4% to $9.3 million for the year ended December 31, 2012, from $9.9 million for the year ended December 31, 2011. For the fourth quarter 2012, research and development expenses were relatively consistent at $2.1 million, compared to $2.2 million in the same quarter a year ago. This year over year decrease was primarily due to the reduction of costs associated with the 2011 termination of the Alcon agreement, partially offset by the increase in costs in NovaBay's conjunctivitis and UCBE trials.
NovaBay Pharmaceuticals Reports Fourth Quarter Financial Results And 2013 Clinical And Business Update
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