From Investing.com: 2024-05-12 18:32:05

began exploring ways to bring more innovative products to market and formed a co-promotion agreement with Eyenovia to market clobetasol, a potential first-to-market dry eye treatment. Looking ahead, we plan to leverage our inside sales force to increase physician engagement and convert doctor-based dispensing customers to over-the-counter sales, specifically through Amazon. The US dry eye market is expected to grow to $4.7 billion by 2030, offering immense growth potential for NovaBay. In looking at our financial overview for the quarter, we achieved $2.6 million in sales, up 12% from the previous year, with a steady gross margin of 68%. However, our net loss for the quarter was $3.6 million, with $1.8 million in cash and cash equivalents. We have reduced sales and marketing expenses while facing higher general and administrative costs attributed to legal expenses. Our efforts to streamline operations have resulted in increased sales and online presence, positioning NovaBay Pharmaceuticals for further growth in the thriving US dry eye market.



Read more at Investing.com: NovaBay reports record Avenova sales, eyes dry eye market By Investing.com