NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN: NBY) is running for the top in the market this morning, trading on gains of more than 30% early on. The gains come after the company announced the availability of its proprietary protective face masks, exciting investors. Here’s what’s going on:
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NBY Stock Heads Up On Face Mask Availability
In the press release, NovaBay Pharmaceuticals said that its proprietary KN95 disposable air filter masks are now available. The masks can be purchased in sets of 10 for $59.99 or sets of 30 for $149.99.
In the announcement, NBY said that the masks can be purchased at its website, Avenova.com.
Importantly, the company’s NK95 masks have proven effective in filtering out at least 95% of airborne particles. These particles include microorganisms, dust, pollen and air pollution.
The NK95 face masks are manufactured using three layers of filtration. Moreover, the mask features extra soft and comfortable elastic ear loops that do not apply pressure to the ears during use.
In a statement, Justin Hall, CEO at NBY, had the following to offer:
In light of the shortage of protective masks, we have tapped into our global health supplier network to procure and make available a high-quality, KN95-rated product at the most reasonable price possible. We received our first shipment of KN95 masks last week, which sold out online very quickly, and expect a second large inventory of masks to be available for shipment today. To meet the immediate need, we had the masks flown in on a rush basis. We have direct access to a large supplier of KN95 masks and encourage organizations ordering quantities of 50,000 or more to contact us directly at 1-800-890-0329 for special pricing.
We plan to continue providing KN95 masks on Avenova.com for as long as the demand remains. In these most unusual of circumstances, it’s gratifying for the NovaBay team to carry out our commitment to marshal all of our talents and resources to benefit the health and wellbeing of people everywhere. We will continue to be here to help accomplish this objective during and after this crisis is over.
Why The News Is So Exciting
At the end of the day, the news issued by NovaBay is huge. At the moment, there is a shortage of personal protective gear, including face masks, in the United States and around the world. As the coronavirus continues to spread, hospitals are resorting to making their own make-shift face masks to control the spread of illness in their facilities.
At the same time, it doesn’t look like the coronavirus is going anywhere any time soon. Sure, there are companies working on both vaccines and treatments, but in a best case scenario, it will be months before these are approved for human use, in worst case, possibly years.
NovaBay is announcing the availability of their face masks at a perfect time. Currently, its competitor, Alpha Pro Tech (NYSEAMERICAN: APT) is struggling to keep up with the millions of dollars in orders that it has received for its N95 face masks. In fact, the company has a backlog that is expected to last months.
Considering this, NBY has the perfect opportunity to get in on the rising demand, and will likely see strong demand for their option. So, this is an opportunity that investors should not ignore.
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