NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN: NBY) is climbing in the market this morning, trading on gains of more than 45% early on. The gains come after the company announced the launch of a new product on Amazon.com. Here’s what’s going on:
NBY Stock Pops On Amazon.com Launch
In a press release issued early this morning, NovaBAy Pharmaceuticals announced a new product launch. The product, known as NovaSight, is a proprietary daily vitamin and mineral supplement designed for the support of good ocular health.
In the release, NBY said that NovaSight is a companion product of Avenova Direct, the company’s prescription-strength lid and lash spray. Importantly, the product was formulated by a well-known ophthalmologist, Robert Abel, Jr., M.D. in an effort to replenish nutrients in the eyes.
In a statement, Dr. Abel had the following to offer:
As an ophthalmologist with a background in both traditional medicine and nutrition, I’m delighted to make NovaSight readily available on Amazon.com to help consumers focus on ocular health.
In addition to its comprehensive formulation, unlike other leading brands, NovaSight has safe levels of zinc and no copper. Recent medical reports suggest an association between copper and an increased risk of memory loss and Alzheimer’s disease. Furthermore, ingesting more than 30 mgs of zinc can inhibit the absorption of important minerals such as calcium, magnesium, iodine, selenium and boron. By partnering with Amazon.com, we are making a significant vitamin formulation available to the consumer at a very reasonable price.
The above statement was followed up by Justin Hall, CEO at NovaBay. Here’s what he had to say:
We are delighted to be partnering with Dr. Abel to commercialize this high-quality ocular vitamin and supplement product as a complement to Avenova Direct.
Avenova is proven to treat the underlying causes of blepharitis and bacterial dry eye. Using NovaSight in combination with Avenova supports our goal of providing consumers with the products they need to keep their eyes healthy, both inside and out. NovaSight is one of several near-term line extensions and complementary products we plan to introduce to drive cost-effective growth and leverage our distribution infrastructure.
Why Investors Are So Excited
Ultimately, there are several reasons for investors to be excited here. Here’s how I see it:
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