NovaBay Pharmaceuticals NBY Stock News

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN: NBY) is screaming for the top in the market this morning, trading on gains of more than 35% early in the premarket. The gains come after the company announced expanded online distribution of its Avenova product. Here’s what’s going on:

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NBY Heads Up On Avenova Walmart.com Distribution

As mentioned above, NovaBay Pharmaceuticals is running for the top in the market this morning after announcing that it has expanded the distribution of Avenova. According to the release, the company launched Avenova on Walmart.com.

Avenova is a unique facial sanitizer that has been confirmed through independent laboratory testing to kill SARS-CoV-2, the virus that causes COVID-19, on hard surfaces. Since 2015, the product has been used for eyelid and eyelash cleansing. Importantly, it is completely non toxic and gentle enough for daily use on the skin around the eyes, nose, and mouth.

In a statement, Justin Hall, CEO at NBY, had the following to offer:

Avenova has always demonstrated the ability to kill a wide variety of pathogens, and we now have laboratory results proving it as a COVID-killer on hard surfaces. Yet, Avenova is safe for use on delicate facial skin around the eyes, nose and mouth.

Avenova is formulated with our pure, FDA-cleared hypochlorous acid. Not all hypochlorous acid products are designed for daily use on skin. Additionally, most hypochlorous acid products are not pharmaceutical grade and may not maintain a sufficiently high concentration of hypochlorous acid to kill the virus like Avenova.

The availability of Avenova through online retail giant Walmart is a major win for NovaBay and our customers. We continue to view online sales as the greatest growth channel for Avenova, particularly as pandemic-concerned consumers shift to buying more products online.

This Is Big News

The news released by NovaBay Pharmaceuticals this morning was overwhelmingly positive. We already know that Avenova has a good ability to sell online. We saw that when NBY started selling the product on Amazon.com.

Now, the company has access to another 120 million potential customers that visit walmart.com every single month. In fact, between Amazon.com and Walmart.com, the company’s product is now on two of the top three ecommerce websites in the world. As such, sales are likely to climb moving forward.

Considering the uplist of the Avenova product to Walmart.com and the solid sales that we’ve seen from the product on Amazon.com, combined with the fact that it has been proven to kill the virus that causes COVID-19, it only makes sense that NBY stock has the potential to climb ahead.

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