The following is a summary of the NovaBay Pharmaceuticals, Inc. (NBY) Q4 2023 Earnings Call Transcript:

Financial Performance:

• NovaBay reported a total Q4 2023 sales net of $3.7 million, marking a 2% increase from the previous year.

• The gross margin on net product revenue for the quarter was 49%, slightly higher than the 48% of Q4 2022.

• The company's net loss for Q4 2023 amounted to $9.2 million, or $1.33 per share.

• For the whole of 2023, total sales net were $14.7 million, and cash and cash equivalents stood at $3.1 million at year end.

Business Progress:

• NovaBay sold its skincare business DERMAdoctor, choosing to focus solely on its core eye care business.

• The company saw a significant rise in subscription-based unit sales of Avenova Spray.

• Launched two promotional programs for Avenova branded products, and extended its reach via a new co-marketing agreement with Eyenovia for the distribution of FDA-approved ophthalmic steroid, Clobetasol.

More details: NovaBay Pharmaceuticals IR

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