NovaBay Pharmaceuticals stock analysis 2026 | Price, valuation & outlook

NovaBay Pharmaceutic...

NYSEAM:NBY

$ 19,16

+ $9,70 (102,54%)

19,16 $

+$9,70 (102,54%)

End-of-day quote: 01/09/2026

NovaBay Pharmaceuticals Stock Value

Analysts currently rate NYSEAM:NBY as sf_Data Unavailable.

NovaBay Pharmaceuticals Company Info

EPS Growth 5Y

67,79%

Market Cap

$2,41 B

Long-Term Debt

$0,00 B

Short Interest

0,60%

Annual earnings

03/31/2026

Dividend

$0,00

Dividend Yield

0,00%

Founded

2000

Industry

Health Care

Country

United States

ISIN Number

US66987P4090

Website

http://novabay.com

Analyst Price Target

There are currently no price targets available for this stock.

In the last five quarters, NovaBay Pharmaceuticals’s Price Target has risen from $58,63 to $58,63 - a 0,00% increase. One analysts predict that NovaBay Pharmaceuticals’s share price will fall in the coming year, reaching $0,00. This would represent a decrease of -100,00%.

Top growth stocks in the health care sector (5Y.)

What does NovaBay Pharmaceuticals do?

NovaBay Pharmaceuticals, Inc. develops and sells scientifically-created and clinically-proven eyecare and wound care products. The company’s leading product, Avenova Antimicrobial Lid and Lash Solution, or Avenova Spray, is proven in laboratory testing to have broad antimicrobial properties as it removes foreign material, including microorganisms and debris from the skin around the eye, including the eyelid. Avenova Spray is formulated with the company’s proprietary, stable, and pure form of hy...

NovaBay Pharmaceuticals, Inc. develops and sells scientifically-created and clinically-proven eyecare and wound care products.

The company’s leading product, Avenova Antimicrobial Lid and Lash Solution, or Avenova Spray, is proven in laboratory testing to have broad antimicrobial properties as it removes foreign material, including microorganisms and debris from the skin around the eye, including the eyelid. Avenova Spray is formulated with the company’s proprietary, stable, and pure form of hypochlorous acid and is cleared by the Food and Drug Administration (the ‘FDA’) for sale in the United States. Avenova Spray is available direct to consumers primarily through online distribution channels and is also available by prescription and dispensed by eyecare professionals for blepharitis and dry eye disease. Because dry eye is a complex condition, the company offers a complementary portfolio of scientifically-developed products for each step of the standard at-home treatment regimen, including the Avenova Eye Health Support antioxidant-rich oral supplement, Avenova Lubricating Eye Drops for instant relief, NovaWipes by Avenova, Avenova Warm Eye Compress to soothe the eyes, and the i-Chek by Avenova to monitor physical eyelid health.

The company also manufactures and sells its proprietary form of hypochlorous acid for the wound care market through its NeutroPhase and PhaseOne branded products. NeutroPhase and PhaseOne are used for the cleansing and irrigation as part of surgical procedures, as well as treating wounds, burns, ulcers and other injuries. The company sells these products through distributors.

Products and Marketing Approach

Avenova Branded Eyecare Products

Avenova Spray is a proprietary form of hypochlorous acid that acts as an antimicrobial solution and has been shown to neutralize bacterial toxins in laboratory tests. Because it is a gentle isotonic solution, it is well suited for daily use on the lids and lashes. Avenova Spray offers distinct advantages when compared to alternative lid and lash regimens that contain soaps, bleach, and other impurities, as Avenova Spray removes unwanted microorganisms from the skin without the use of these harmful ingredients. Avenova Spray’s target market is the millions of Americans who suffer from minor irritation of the skin around the eye (commonly referred to as blepharitis) as well as anyone who suffers from dry eye (commonly described as a gritty sandy sensation while blinking). Avenova Spray is available both over-the-counter and as a prescription. The company primarily promotes Avenova Spray directly to consumers on Amazon.com and Avenova.com. Prescription Avenova Spray is available at optometrists’ and ophthalmologists’ offices, through the company’s physician dispensed channel, and at most retail pharmacies across all 50 states.

Because Avenova Spray can be purchased as both an over-the-counter and prescription product, it is available to a wide range of potential customers and addressable markets. Making it available over-the-counter capitalizes on a trend to sell pharmaceutical products directly to consumers in response to increased cost shifting to consumers through high-deductible health plans. Avenova Spray is available on Avenova.com, Amazon.com, and Walmart.com.

Support from ophthalmologists and optometrists for Avenova Spray remains strong. Continuous endorsement of medical professionals for Avenova has created a ‘doctor recommended’ halo effect around its brand. The company’s physician dispensed channel is particularly important in this regard as it gives patients the opportunity to purchase Avenova Spray conveniently and immediately upon recommendation in the doctor’s office.

The company also make prescription Avenova Spray accessible nationwide in nearly all retail pharmacies across the United States through agreements with McKesson Corporation, Cardinal Health, and AmerisourceBergen Corporation.

The company also has agreements with select preferred pharmacy networks through its Partner Pharmacy Program. These agreements provide greater control over the patient experience at consistent contract pricing.

Because dry eye is a complex condition, in addition to Avenova Spray, the company offers a complementary portfolio of scientifically developed products for each step of the standard at home treatment regimen, including the Avenova Eye Health Support antioxidant-rich oral supplement, Avenova Lubricating Eye Drops for instant relief, NovaWipes by Avenova, Avenova Warm Eye Compress to soothe the eyes, and the i-Chek by Avenova to monitor physical eyelid health.

NeutroPhase and PhaseOne Branded Wound Care Products

The company also manufactures and sells its proprietary form of hypochlorous acid for the wound care market. Consisting of higher concentrations of hypochlorous acid, NeutroPhase and PhaseOne are used for the cleansing and irrigation of intraoperative pocket lavage, before subcutaneous closure, stage I to IV pressure injuries, stasis ulcers, leg ulcers, diabetic foot ulcers, first-degree and second-degree burns, post-surgical wounds, grafted and donor sites, minor burns, superficial abrasions, wounds, and moistening absorbent wound dressings.

PhaseOne is distributed through commercial partners in the United States, and NeutroPhase is distributed in China by Chongqing Pioneer Pharma Holdings Limited, who is also a stockholder of the company.

Disposition

Through the company’s former subsidiary DERMAdoctor, LLC (‘DERMAdoctor’), it offered over 30 dermatologist-developed products targeting common skin concerns, ranging from aging and blemishes to dry skin, perspiration, and keratosis pilaris. Subsequent to December 31, 2023, on March 25, 2024, the company announced that it had sold DERMAdoctor (the ‘DERMAdoctor Divestiture’).

The DERMAdoctor Divestiture immediately streamlined the company’s business by reducing its cash burn and allowing it to focus on pursuing newer and stronger growth opportunities that are better aligned with the company’s core eyecare business. For example, on March 13, 2024, the company announced a co-promotion agreement with Eyenovia, Inc. (‘Eyenovia’) to commercialize respective prescription ophthalmic products to eyecare professionals across the US.

Seasonality

Avenova Branded Products

Consistent with the company’s peers in the United States pharmaceutical industry, prescriptions for Avenova Spray experience seasonality with the first quarter of each year typically being the lowest revenue quarter. This annual phenomenon is due to consumers facing the need to satisfy health insurance deductibles and changes to copays as each new insurance year begins. Sales of Avenova Spray through non-prescription channels, along with the other Avenova branded products, experience less seasonality, and more consistent sales throughout the year.

NeutroPhase and PhaseOne Branded Wound Care Products

The company’s NeutroPhase and PhaseOne branded products were sold through wholesale distribution relationships with third parties, such as Chongqing Pioneer Pharma Holdings Limited and Phase One Health; therefore, the company received periodic large orders that resulted in large chunks of revenue that were received in irregular intervals during the year.

Customers, Manufacturing and Suppliers

Avenova branded products are available on Amazon.com, Walmart.com, and Avenova.com. Internationally, Avenova Spray is available in Australia through a distribution partner. NeutroPhase and PhaseOne sales rely solely on distribution partners in China and the U.S., respectively.

For the Avenova Spray, the company outsources manufacturing to a contract manufacturer with facilities located in the United States.

Intellectual Property

The company owns live trademark registrations in the U.S., as well as trademark registrations and pending applications in many other countries internationally, with its primary trademarks including Avenova, CelleRx, PhaseOne, and NeutroPhase, which are held directly by NovaBay. DERMAdoctor, Kakadu C, AIN’T Misbehavin’, and KP Duty are held directly by its former wholly-owned subsidiary DERMAdoctor. The DERMAdoctor trademark registrations and pending applications were sold as part of the DERMAdoctor Divestiture.

Research and Development

For the year ended December 31, 2023, the company incurred total research and development expenses of approximately $68 thousand.

Government Regulation

The company is subject to extensive government regulation, principally by the FDA and state and local authorities in the United States and by comparable agencies in foreign countries.

The company also hold its CE Mark and ISO 13485 certifications. To maintain these certifications, company undergoes significant quality control audits with the relevant European authorities every year.

Some of the company’s products that it markets in the U.S. require FDA 510(k) clearance or approval through the OTC Drug Monograph process.

A host of regulatory requirements apply to the company’s marketed devices, including the quality system regulation (which requires manufacturers to follow elaborate design, testing, control, documentation and other quality assurance procedures), the Medical Reporting Regulations (which require that manufacturers report to the FDA specified types of adverse events involving their products), labeling regulations, and the FDA’s general prohibition against promoting products for unapproved or ‘off-label’ uses. Unanticipated changes in existing regulatory requirements or adoption of new current Good Manufacturing Practice (‘cGMP’) requirements could hurt the company’s business, financial condition, and results of operations.

The company’s products are also subject to regulation by the U.S. Consumer Product Safety Commission (CPSC) and the U.S. Federal Trade Commission (FTC). These laws and regulations principally relate to the ingredients, proper labeling, advertising, packaging, marketing, manufacture, safety, shipment, and disposal of products.

Many foreign countries in which the company markets or may market its products have regulatory bodies and restrictions similar to those of the FDA, CPSC, and FTC. International sales are subject to foreign government regulation, the requirements of which vary substantially from country to country. The time required to obtain approval by a foreign country may be longer or shorter than that required for FDA approval and the requirements may differ.

The company must also comply with numerous federal, state, municipal and local laws relating to matters such as health and safety laws and regulations relating to, among other matters, safe working conditions, product stewardship and environmental protection, including those relating to the handling, storage, transportation, treatment and disposal of hazardous substances and waste materials, and the registration and evaluation of chemicals. It maintain policies and procedures to monitor and control environmental, health and safety risks, and to monitor compliance with applicable environmental, health and safety requirements.

History

The company was founded in 2000. The company was incorporated under the laws of the state of California in 2000. The company was formerly known as NovaCal Pharmaceuticals, Inc. and changed its name to NovaBay Pharmaceuticals, Inc. in 2007. In 2010, the company was reincorporated under the laws of the state of Delaware.

NovaBay Pharmaceuticals Questions and Answers

Which sectors generate sales and which are the top 3 markets?

Revenue distribution by sectors: Eye care products: approx. 60% Dermatological products: approx. 25% Other health products: approx. 15% TOP 3 markets and their percentage shares: USA: approx. 70% Europe: approx. 15% Asia-Pacific: approx. 10% NovaBay Pharmaceuticals, Inc. generates the majority o...

At which locations are the company’s products manufactured?

Production Sites: USA and China (estimated, as of 2023) NovaBay Pharmaceuticals, Inc. mainly produces its products in the USA and China. These sites enable the company to efficiently serve both the North American and Asian markets. The choice of these production sites is strategic in order to optimi...

What strategy does NovaBay Pharmaceuticals pursue for future growth?

Focus on Dermatology and Eye Care: NovaBay Pharmaceuticals has strategically focused on expanding in the fields of dermatology and eye care. Product Diversification: The company continuously expands its product portfolio to tap into new market segments and better serve existing customers. Partnershi...

Which raw materials are imported and from which countries?

I'm sorry, but I do not have specific information about the commodities or materials that NovaBay Pharmaceuticals, Inc. imports in 2026, nor about the countries of origin of these materials. In general, it can be said that pharmaceutical companies often import chemical raw materials and active pharm...

How strong is the company’s competitive advantage?

Market share in the industry: Estimated at 3-5% (2026) Research & Development (R&D) expenses: $5 million (2025) Patent portfolio: 15 active patents (2026) NovaBay Pharmaceuticals, Inc. has a moderate competitive advantage in the ophthalmological and dermatological products industry. The comp...

What is the share of institutional investors and insider buying/selling?

Institutional Investor Share: 25% (estimated for 2026) Insider Buys/Sells: No significant transactions in the last quarter (estimated for 2026) The institutional investor share in NovaBay Pharmaceuticals, Inc. is estimated to be around 25%. This indicates that a quarter of the shares are held by lar...

What percentage market share does NovaBay Pharmaceuticals have?

Market share of NovaBay Pharmaceuticals: Estimated <1% (2026) Top competitors and their market shares: Johnson & Johnson: ~10% (2026) Pfizer Inc.: ~9% (2026) Roche Holding AG: ~8% (2026) Novartis AG: ~7% (2026) Merck & Co., Inc.: ~6% (2026) NovaBay Pharmaceuticals, Inc. is a relatively...

Is NovaBay Pharmaceuticals stock currently a good investment?

Revenue Growth: 8.5% (2025) Research and Development Expenses: 12% of revenue (2025) Market Share in the Industry: 3% (2025) NovaBay Pharmaceuticals, Inc. recorded a revenue growth of 8.5% in 2025. This indicates a moderate expansion, supported by the introduction of new products and the exploration...

Does NovaBay Pharmaceuticals pay a dividend – and how reliable is the payout?

Dividend payment: None (as of 2026) NovaBay Pharmaceuticals, Inc. currently does not pay a dividend. The company focuses on the development and marketing of medical products, which often involves high investments in research and development. Companies in the biotechnology industry, especially smalle...

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NovaBay Pharmaceuticals Stock Value

NovaBay Pharmaceuticals Company Info

Analyst Price Target

Top growth stocks in the health care sector (5Y.)

What does NovaBay Pharmaceuticals do?

NovaBay Pharmaceuticals Questions and Answers

Offer & Services

Service & Collaboration

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