NovaBay Pharmaceuticals To Sell DERMAdoctor Skincare Business - Quick Facts

(RTTNews) - NovaBay Pharmaceuticals, Inc. (NBY) has entered into an agreement to sell its DERMAdoctor skincare business including all product inventory for approximately $1.0 million in cash. NovaBay expects to close the transaction before the end of the first quarter of 2024.

"This sale will reduce our quarterly operating expenses and provide us with much-needed cash during this challenging capital market environment. It also streamlines our business by placing us in a better position to pursue new strategic opportunities that have greater potential for growth," said Justin Hall, CEO of NovaBay.

NovaBay's cash as of December 31, 2023 was $3.1 million.