This Day On The Street
Continue to site
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 Reports Second Quarter 2013 Financial Results And A Clinical/Business Update

Clinical Results From Three Aganocide ® Trials to be Reported Over the Next Three to Nine Months

EMERYVILLE, Calif., Aug. 1, 2013 (GLOBE NEWSWIRE) -- NovaBay Pharmaceuticals, Inc. (NYSE:NBY), an advanced clinical-stage biotechnology company focused on the topical, anti-infective market, today reported second quarter 2013 financial results and provided a clinical update.

Dr. Ron Najafi, Chairman and CEO of NovaBay Pharmaceuticals, commented: "We expect to report data from our urology trial in the third quarter, followed by the data from our dermatology and ophthalmology trials by the end of 2013 and in the first half of 2014, respectively. Positive data from these trials will provide the validation we need to continue discussions with current and potential partners as well as the FDA. Our portfolio of novel, topical anti-infectives fulfills our mission of going 'beyond antibiotics' by providing a safe and effective alternative to kill bacteria without developing resistance. Additionally, Aganocides do not linger in the environment and thus have significant environmental benefits over classical topical antibiotics."

Second Quarter 2013 Results

Net loss for the quarter ended June 30, 2013 was $4.1 million, compared to $2.3 million for the same period last year, due to the clinical trial activities. Cash, cash equivalents, and short-term investments totaled $11.4 million on June 30, 2013, compared with $16.9 million on December 31, 2012, a decrease of approximately $5.5 million. The decrease in cash was primarily attributable to an increase in enrollment in multiple clinical trials as well as an increase in general and administrative expenses.

NovaBay's license and collaboration revenue for the second quarter of 2013 was $0.8 million, compared to $0.9 million for the three months ended June 30, 2012. This decrease was related to lower reimbursable costs for the support of the impetigo trial. NovaBay did not recognize any other significant revenues for the three months ended June 30, 2013.

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
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs