NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN: NBY) is making a run for the top early on this morning after announcing yet another product launch that’s targeting Amazon.com customers. The stock is already up over 20% in the premarket and could run higher. Here’s what’s going on:
NBY Stock Pops On Product Launch
Recently, we’ve seen product launch after product launch out of NovaBay Pharmaceuticals. That trend is continuing this morning with the company’s announcement of the next launch.
In a press release issued early this morning, NBY announced that it has launched NovaWipes. The product is a soft, dry, hypoallergenic and absorbable wipe for use in applying Avenova.
In the release, the company said that the product is now available on Amazon.com. Importantly, the product and Avenova Direct, the company’s lid and lash spray is available without a prescription.
The NovaWipes product is sold in a 30-count package with a price of $5.99. In a statement, Justin Hall, CEO at NBY, had the following to offer:
Our soft and absorbent NovaWipes are perfect for applying Avenova to eyelids irritated by the symptoms of dry eye and blepharitis. NovaWipes are also hypoallergenic, allowing patients to feel safe with their routine use. Their multi-layer construction provides maximum absorption, and their woven structure means they won’t pull apart like ordinary cotton rounds or balls. They are also larger than the average cotton round, providing more surface area for dabbing and blotting.
NovaWipes represent the second of several Avenova Direct line extensions and complementary products we are introducing to drive cost-effective growth and leverage our distribution infrastructure. Last month we launched NovaSight™, a proprietary vitamin and mineral supplement specially designed to support ocular health.
Why Investors Are So Excited
With the recent product launches investors have been flooding into NovaBay Pharmaceuticals’ stock. In my view, there are multiple very good reasons for all of the excitement. Here’s how I see it:
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