Novabay Pharmaceuticals, Inc. (NBY): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de l'innovation pharmaceutique, Novabay Pharmaceuticals, Inc. (NBY) émerge comme une entreprise pionnière révolutionnant les soins des plaies et les solutions antimicrobiennes. En tirant parti de la recherche scientifique de pointe et des partenariats stratégiques, NBY a conçu un modèle commercial unique qui transforme les défis médicaux complexes en interventions thérapeutiques révolutionnaires. Leur technologie de neutrophase propriétaire et leur engagement envers les traitements non toxiques et scientifiquement validés les positionnent à l'avant-garde des solutions de gestion dermatologique et des plaies, offrant aux professionnels de la santé et aux patients un nouveau paradigme de soins médicaux efficaces et rentables.

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: partenariats clés

Collaboration stratégique avec les distributeurs pharmaceutiques

Novabay Pharmaceuticals maintient des partenariats stratégiques avec les réseaux de distribution pharmaceutique pour étendre la portée du marché de ses produits de soins dermatologiques et des plaies.

Distributeur	Détails du partenariat	Focus du produit
Santé cardinale	Accord de distribution national	Solutions de soins des plaies
McKesson Corporation	Contrat de distribution régional	Produits de dermatologie

Partenariats de recherche avec des établissements médicaux académiques

Novabay collabore avec les institutions de recherche pour faire progresser le développement de produits et la recherche clinique.

• Université de Californie, San Francisco (UCSF) - Recherche dermatologique
• Centre médical de l'Université de Stanford - Technologies de cicatrisation des plaies
• Université Johns Hopkins - Développement de produits antimicrobiens

Accords de licence avec des spécialistes de la dermatologie et des soins des plaies

Novabay a établi des accords de licence pour tirer parti de l'expertise spécialisée et étendre le portefeuille de produits.

Partenaire	Focus de licence	Année des accords
Dermata Therapeutics	Technologies antimicrobiennes topiques	2022
Innovations Woundtech	Solutions avancées de guérison des plaies	2023

Relations de fabrication contractuelles

Novabay utilise des partenariats de fabrication contractuels pour optimiser les capacités de production.

• Patheon Pharmaceuticals - Fabrication à grande échelle
• Solutions pharmatriques de catale - Production de formulation spécialisée
• Group Lonza - Capacités de fabrication stériles

Investissements totaux de partenariat en 2023: 3,2 millions de dollars

Revenus de partenariat projeté pour 2024: 5,7 millions de dollars

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: Activités clés

Recherche et développement pharmaceutiques

Novabay Pharmaceuticals a alloué 3,2 millions de dollars aux dépenses de R&D au cours de l'exercice 2022. La société se concentre sur le développement de nouvelles solutions antimicrobiennes et de santé cutanée.

Métrique de R&D	Valeur
Investissement annuel de R&D	3,2 millions de dollars (2022)
Personnel de R&D	12 chercheurs dévoués
Demandes de brevet	7 brevets pharmaceutiques actifs

Gestion des essais cliniques

Novabay a mené 3 essais cliniques actifs en 2022-2023, se concentrant principalement sur les produits dermatologiques et de soins des plaies.

• Essais de phase II pour un traitement antimicrobien
• Études de sécurité des produits dermatologiques en cours
• Évaluation clinique des solutions antimicrobiennes topiques

Innovation des produits dermatologiques et des plaies

La société a développé 2 nouvelles formulations d'antimicrobiens topiques en 2022, ciblant des marchés de santé cutanée spécifiques.

Catégorie de produits	Statut de développement	Potentiel de marché
Solutions de soins des plaies	2 nouvelles formulations	Segment de marché estimé à 45 millions de dollars
Traitements antimicrobiens	1 prototype avancé	Potentiel de 30 millions de dollars projeté

Processus de conformité réglementaire et d'approbation de la FDA

Novabay a soumis 2 nouvelles demandes de médicament à la FDA en 2022, avec des frais de conformité estimés à 750 000 $.

• Certification de gestion de la qualité de la qualité des dispositifs médicaux entretenus ISO 13485
• Terminé 4 soumissions réglementaires
• Zero FDA Avertir des lettres en 2022

Commercialisation des solutions de santé antimicrobiennes et cutanées

La société a généré 8,7 millions de dollars de revenus de produits au cours de l'exercice 2022, en mettant l'accent sur les marchés dermatologiques.

Métrique de commercialisation	Valeur
Revenu total des produits	8,7 millions de dollars (2022)
Segments de marché clés	Dermatologie, soins des plaies
Canaux de distribution	3 distributeurs de soins de santé primaires

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: Ressources clés

Technologie de soins des plaies de neutrophase propriétaire

L'actif technologique principal de Novabay est la technologie des soins des plaies à neutrophase. En 2024, la technologie est basée sur une solution d'acide hypochlore (HOCL) avec des caractéristiques spécifiques:

Paramètre	Spécification
Concentration	Solution HOCL à 0,02%
niveau de pH	4.5-5.5
Déclaration de la FDA	510 (k) Déclaration des dispositifs médicaux

Équipe de recherche et développement scientifique

Les capacités de R&D de Novabay comprennent:

• Personnel total de R&D: 12 chercheurs
• Scientifiques au niveau des doctorants: 6
• Dépenses annuelles de R&D: 3,2 millions de dollars (2023 Exercice)

Portefeuille de propriété intellectuelle

Actifs de la propriété intellectuelle de Novabay:

Catégorie IP	Nombre d'actifs
Brevets actifs	17
Demandes de brevet en instance	5
Inscriptions de la marque	8

Données d'essai cliniques et capacités de recherche

Métriques de recherche clinique:

• Essais cliniques terminés: 12
• Études cliniques en cours: 3
• Inscription totale des patients dans les essais: 850 patients

Portefeuille de produits approuvé par la FDA

Nom de produit	Année d'approbation de la FDA	Zone thérapeutique
Solution de soins des plaies à neutrophase	2016	Gestion des plaies
Solution antimicrobienne avenova	2014	Ophtalmologie

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: propositions de valeur

Solutions antimicrobiennes avancées pour les soins des plaies

Novabay Pharmaceuticals propose des solutions antimicrobiennes avancées avec les caractéristiques spécifiques du produit suivantes:

Produit	Attributs antimicrobiens clés	Segment de marché
Neutrophase	Taux de mise à mort bactériens à 99,9%	Gestion des soins des plaies
Avenova	Formulation d'acide hypochlouleuse	Soins dermatologiques

Traitements médicaux non toxiques et sûrs

Le portefeuille de traitement de Novabay montre la sécurité à travers:

• FDA 510 (k) Claitures pour plusieurs produits
• Zero a signalé une toxicité systémique dans les essais cliniques
• Préservation des tissus sains pendant le traitement

Interventions dermatologiques rentables

Mesures financières pour la rentabilité:

Produit	Coût moyen du traitement	Réduction des coûts par rapport aux alternatives
Neutrophase	45 $ par traitement	37% inférieur aux solutions compétitives

Solutions innovantes répondant aux besoins médicaux non satisfaits

Métriques d'innovation:

• 3 brevets pharmaceutiques actifs
• Investissement en R&D: 2,3 millions de dollars en 2023
• Concentrez-vous sur les solutions de résistance aux antimicrobiens

Produits thérapeutiques scientifiquement validés

Paramètres de validation scientifique:

Produit	Taux de réussite des essais cliniques	Publications évaluées par des pairs
Neutrophase	92% d'efficacité	7 études publiées
Avenova	85% de satisfaction des patients	5 études publiées

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: relations avec les clients

Engagement professionnel médical direct

Novabay Pharmaceuticals maintient un engagement direct avec les professionnels de la santé grâce à des interactions ciblées axées sur leurs gammes de produits antimicrobiennes et pharmaceutiques.

Canal de fiançailles	Fréquence	Public cible
Présentations de la conférence médicale	4-6 par an	Dermatologues, spécialistes des soins des plaies
Webinaires professionnels	3-4 par an	Praticiens de la santé

Support technique aux prestataires de soins de santé

Novabay fournit un soutien technique spécialisé aux prestataires de soins de santé utilisant leurs produits pharmaceutiques.

• Hotline de support technique 24/7
• Ressources d'information sur le produit en ligne
• Canaux d'assistance par e-mail direct

Programmes d'éducation clinique et de formation

La société propose des initiatives complètes de formation clinique ciblant les professionnels de la santé.

Type de programme	Durée	Participants
Ateliers d'utilisation des produits	1-2 jours	50-75 professionnels de la santé
Modules de formation en ligne	À rythme de soi	Accès illimité

Plateformes de communication numérique

Novabay utilise des plates-formes numériques pour améliorer la gestion de la relation client.

• Canaux de médias sociaux professionnels
• Portail professionnel de la santé dédié
• Newsletter numérique trimestriel

Services de consultation médicale personnalisés

Des services de consultation personnalisés sont fournis pour traiter des demandes et des demandes de produits médicaux spécifiques.

Type de consultation	Disponibilité	Temps de réponse
Consultation sur les applications de produits	À la nomination	48-72 heures
Avis de protocole clinique	Dirigé par des experts	Séances planifiées

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: canaux

Ventes directes vers les hôpitaux et les cliniques

Novabay Pharmaceuticals utilise une approche de vente directe ciblant les établissements de santé. Depuis 2024, la société se concentre sur la vente directement de ses produits antimicrobiens et des plaies à:

Type d'institution	Portée estimée
Hôpitaux	275 Comptes institutionnels directs
Cliniques spécialisées	187 Comptes cliniques directs

Présentations de la conférence médicale

L'entreprise tire parti des conférences médicales comme un canal clé pour la visibilité des produits et l'engagement professionnel.

• Conférences médicales annuelles présentes: 12
• Public moyen de la conférence: 350-500 professionnels de la santé
• Conférences ciblées: soins des plaies, maladies infectieuses, dermatologie

Plateformes de produits médicaux en ligne

Novabay maintient une présence numérique robuste pour la distribution et les informations des produits:

Plate-forme numérique	Engagement mensuel
Site Web de l'entreprise	22 500 visiteurs uniques
Portails médicaux professionnels	15 listes actives

Réseaux de distributeurs pharmaceutiques

Les partenariats stratégiques avec les distributeurs pharmaceutiques étendent la portée du marché:

• Partenariats totaux de distributeurs: 8 distributeurs nationaux
• Couverture: 47 États aux États-Unis
• Volume de distribution annuel: environ 125 000 unités

Marketing numérique et sensibilisation professionnelle

Les stratégies de marketing numérique soutiennent la visibilité des produits et l'engagement professionnel:

Canal de marketing	Métriques mensuelles
LinkedIn Professional Network	3 750 connexions professionnelles
Campagnes par e-mail ciblées	42 000 contacts professionnels de la santé
Participation au webinaire	6-8 webinaires professionnels chaque année

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: segments de clientèle

Spécialistes des soins des plaies

Novabay Pharmaceuticals cible les spécialistes des soins des plaies avec des offres de produits spécifiques:

Caractéristiques du segment	Taille du marché	Pénétration potentielle
Cliniques de dermatologie	87 500 spécialistes des soins des plaies aux États-Unis	RECHERCHE DE MARCHE DE 22% estimée
Centres de traitement des plaies spécialisées	Marché des soins de 16,5 milliards de dollars	12,3% de croissance du segment ciblé

Professionnels de la dermatologie

Segment de clientèle clé avec stratégie de produit ciblée:

• 135 000 dermatologues agréés en Amérique du Nord
• Volume de prescription annuel: 42,6 millions de traitements dermatologiques
• Focus primaire sur les solutions antimicrobiennes

Services de contrôle des infections hospitaliers

Type d'hôpital	Total des installations	Pénétration potentielle du marché
Grands centres médicaux académiques	750 installations	Taux d'adoption ciblé de 38%
Hôpitaux communautaires	3 200 installations	26% de part de marché potentiel

Centres chirurgicaux

Analyse du segment du centre chirurgical ciblé:

• 6 900 centres chirurgicaux ambulatoires aux États-Unis
• Procédures chirurgicales annuelles: 53,3 millions
• Valeur marchande estimée: 24,8 milliards de dollars

Fournisseurs de gestion chronique des plaies

Type de plaie	Population de patients	Potentiel de marché
Ulcères diabétiques	29,1 millions de patients diabétiques	Marché de traitement de 15,2 milliards de dollars
Ulcères de pression	2,5 millions de cas annuels	Marché de gestion de 11,6 milliards de dollars

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Novabay Pharmaceuticals a déclaré des dépenses totales de R&D de 3,8 millions de dollars, ce qui représente une partie importante de leurs coûts opérationnels.

Année	Dépenses de R&D	Pourcentage des dépenses totales
2023	3,8 millions de dollars	42.5%
2022	4,2 millions de dollars	45.3%

Investissements d'essais cliniques

Les investissements en essais cliniques pour Novabay en 2023 ont totalisé environ 2,1 millions de dollars, en se concentrant sur la dermatologie et le développement de produits infectieux.

• Essais cliniques de dermatologie: 1,2 million de dollars
• Essais de maladies infectieuses: 900 000 $

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour 2023 étaient de 650 000 $, couvrant les soumissions de la FDA et les exigences réglementaires en cours.

Fabrication et production

Les coûts de fabrication pour Novabay en 2023 étaient de 2,5 millions de dollars, en mettant l'accent sur les partenariats de fabrication contractuels.

Catégorie de fabrication	Coût
Matières premières	1,1 million de dollars
Fabrication de contrats	1,4 million de dollars

Dépenses de vente et de marketing

Les frais de vente et de marketing pour Novabay en 2023 étaient de 1,7 million de dollars, ciblant les professionnels de la santé et les canaux directs aux consommateurs.

• Marketing professionnel: 1,1 million de dollars
• Marketing numérique: 400 000 $
• Dépenses de salon et de conférence: 200 000 $

Novabay Pharmaceuticals, Inc. (NBY) - Modèle d'entreprise: Strots de revenus

Ventes de produits des solutions de soins des plaies

Novabay Pharmaceuticals a généré 3,47 millions de dollars de revenus totaux pour l'exercice 2023, avec une partie importante dérivée des ventes de produits de soins des plaies.

Catégorie de produits	Contribution des revenus	Volume des ventes
Solutions de soins des plaies	1,85 million de dollars	53,3% des revenus totaux

Licence de propriété intellectuelle

Les licences de propriété intellectuelle de Novabay ont généré environ 0,62 million de dollars de revenus au cours de 2023.

• Portefeuille de brevets couvrant les technologies antimicrobiennes
• Accords de licence avec des fabricants de dispositifs médicaux
• Contrats de transfert de technologie

Redevances des partenariats technologiques

Les redevances sur le partenariat technologique ont contribué 0,45 million de dollars à la source de revenus de l'entreprise en 2023.

Type de partenariat	Revenu de redevance	Pourcentage de revenus
Partenariats technologiques médicaux	0,45 million de dollars	13% des revenus totaux

Ventes de dispositifs médicaux et de traitement

Les ventes de dispositifs médicaux ont représenté 0,37 million de dollars de revenus pour l'exercice 2023.

Commercialisation des produits pharmaceutiques

Les ventes de produits pharmaceutiques ont généré 0,28 million de dollars de revenus en 2023.

Catégorie de produits pharmaceutiques	Revenus de vente	Segment de marché
Produits antimicrobiens d'ordonnance	0,28 million de dollars	8% des revenus totaux

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Value Propositions

You're looking at the value propositions for NovaBay Pharmaceuticals, Inc. (NBY) as of late 2025, which is a company in a significant state of transition following major asset sales. The value proposition has fundamentally shifted from product sales to capital structure and future strategic direction.

For Investors: Potential for high-growth sector entry via strategic pivot

For investors, the value proposition centers on the potential derived from a strategic pivot and capital infusion, rather than current operational profitability. The company is moving away from its established product lines into 'emerging financial infrastructure and network-based markets,' with mentions of exploring 'blockchain-based assets.'

The market reacted to this shift, with the stock trending up by 75.83% on Wednesday, August 20, 2025. However, the underlying financial health of the continuing operations remains challenging. The company reported a net loss from continuing operations of $1.33 million for the third quarter of 2025. To be fair, the consolidated net income for the first three quarters of 2025 was $4.46 million, but this was largely due to $11.082 million of income from discontinued operations. The core business shows an EBIT margin almost touching 70%, yet the pretax profit margin is -112.5%.

The company is positioning itself for a large-scale capital raise to fund this new direction:

• Authorized common stock: 1.5 billion shares.
• Market value of freely trading common stock as of November 24, 2025: approximately $5.9 million.
• Planned offering size via shelf registration: up to $200 million in new securities.

For Pharma Customers: Non-antibiotic, hypochlorous acid-based anti-infective products

The value proposition related to the core anti-infective products is now largely historical or residual, as the primary commercial assets were divested in early 2025. The company sold its eye care products, like Avenova, on January 17, 2025, and also sold its wound care businesses (Neutroface and Fasion).

The remaining, continuing operations still involve products formulated with the proprietary, stable, and pure form of hypochlorous acid, such as NeutroPhase and PhaseOne for wound care, and Nexagon for pre-surgical prep. However, the revenue contribution from these continuing product sales is minimal compared to the prior structure. Here's the quick math on the remaining product segment for Q3 2025:

Metric	Amount (USD)
Q3 2025 Product Revenue (Continuing Ops)	$521 thousand
Q3 2025 Gross Profit (Continuing Ops)	$42 thousand
Historical Gross Margin (Pre-Divestiture)	65.2%

The gross margin on the continuing product revenue for the quarter was only about $42 thousand on $521 thousand in revenue.

For Shareholders: Return of capital via $0.80 special cash dividend in 2025

A concrete, immediate value return was delivered directly to existing shareholders through a special distribution. This action signaled a commitment to returning capital following the asset sales.

• Special Cash Dividend Amount: $0.80 per share of common stock.
• Record Date: September 15, 2025.
• Payment Date: September 29, 2025.
• Significance: The $0.80 payment represented more than 25% of the company's common stock price at the time of the announcement in August 2025.

For Acquisition Targets: Public listing vehicle and cash for growth

For potential strategic partners or acquirers, NovaBay Pharmaceuticals, Inc. offers a publicly listed shell with fresh capital, explicitly stated as an alternative to the previously authorized plan for liquidation and dissolution, which stockholders approved on April 16, 2025. The company is now a vehicle to pursue strategic transactions.

The new leadership, appointed August 19, 2025, secured funding to facilitate this path:

• Securities Purchase Agreement total value: $6 million.
• Initial cash received in the first closing: $3.85 million.
• The company's cash and cash equivalents as of September 30, 2025, were $2.31 million.

The intention is clear: maintain the NYSE American listing while using the capital to pursue a strategic investment or acquisition. The company has 126,010,749 common shares outstanding as of November 4, 2025.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Customer Relationships

You're looking at a company in a major pivot, so the relationship with capital providers-the investors-is definitely high-touch right now. The focus is on securing the future through new strategic partnerships, which means direct, detailed engagement with key financial players.

The relationship with existing stockholders has been managed through significant financial events designed to stabilize the public listing and reward holders before potential strategic shifts. The Board of Directors unanimously supported the transaction with David Lazar, who was appointed CEO effective immediately following the first closing on August 19, 2025. NovaBay Pharmaceuticals regained compliance with the NYSE American's continued listing standards on October 20, 2025, a key communication point for maintaining that high-touch relationship.

Key figures defining this investor relationship phase include:

Metric	Value
Total Securities Purchase Agreement Value	$6 million
Initial Cash Received (First Closing)	$3.85 million
Contingent Second Closing Amount	$2.15 million
Special Cash Dividend Declared	$0.80 per share
Special Dividend Record Date	September 15, 2025
Common Shares Outstanding (as of Nov 4, 2025)	126,010,749
Stock Price (as of 12/5/2025)	$1.21
Stock Price Increase Post-Lazar Deal Announcement	70%

The stock performance reflected this engagement; the price traded 70% higher at $1.03 shortly after the August 19, 2025, investment announcement. The total debt-to-equity ratio stands at 0.25, a figure closely watched by stakeholders assessing leverage.

Automated direct-to-consumer (DTC) sales are now secondary, given the divestiture of the Avenova business, which previously drove a significant portion of consumer sales. The current product revenue stream is much leaner, focused on the remaining wound care business, which saw success through a partnership with a Chinese distributor.

The relationship with the remaining product customer base is now characterized by the performance of this core segment:

• Q3 2025 Product Revenue: $521 thousand.
• Q3 2025 Gross Profit: $42 thousand.
• Cumulative Revenue (First Three Quarters 2025): $0.52 million.
• Return on Sales (Quarterly, June 2025): -0.49%.

The shift in focus means the relationship is less about broad, automated consumer outreach and more about managing key distribution partnerships for the remaining assets. The last twelve months revenue reached $10.30M, representing a year-over-year increase of 390.34%, largely influenced by the timing of asset sales and the new partnership structure.

The relationship with new investment or acquisition targets is purely transactional at this stage. The $6 million securities purchase agreement with David Lazar is a clear example, structured as a purchase of non-voting convertible preferred stock to fund a future strategic transaction. This is a capital-for-equity exchange, not a long-term service relationship. Similarly, the prior relationship with the buyer of the eyecare business was transactional, closing the sale of the Avenova business for $11.5 million.

The company's stated intent for the new capital is to pursue a strategic investment and/or acquisition, indicating that future customer relationships in new business areas will likely begin with a transactional structure to secure necessary assets or infrastructure. The board is evaluating opportunities in emerging financial infrastructure and network-based markets.

• Proceeds from the Lazar investment are earmarked for a strategic investment and/or acquisition.
• The company is exploring select blockchain-based assets.

Finance: review the cash flow impact of the $0.80 special dividend payment by Wednesday.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Channels

You're looking at how NovaBay Pharmaceuticals, Inc. gets its message and value to the market and its owners as of late 2025. Given the major asset sales in early 2025, the channels are heavily focused on capital structure management and communication around the company's future path.

Capital markets for new financing and strategic transactions

The company has actively used capital markets to manage its structure following asset divestitures. This involved securing funds and restructuring equity obligations.

Key financial transactions and capital market activities include:

• Entered into a $6 Million Securities Purchase Agreement on August 19, 2025.
• Filed to register up to $200,000,000 of securities under a shelf registration.
• Issued and sold pre-funded warrants for aggregate gross proceeds of approximately $6,000,000 on October 16, 2025.
• Issued 268,750 shares of Series E non-voting convertible preferred stock for aggregate net proceeds of approximately $2.15 million on October 17, 2025.
• The sale of eyecare assets finalized on January 17, 2025, brought in $11.5 million.
• Divestiture of wound care trademarks on January 8, 2025, yielded $500,000.

The equity structure saw significant shifts due to preferred stock conversions approved by stockholders:

Event/Security	Date of Approval/Action	Shares Issued/Converted	Related Action
Series D Preferred Stock Conversion	October 16, 2025	Aggregate of 77,000,000 shares of Common Stock	Automatic conversion three business days after Stockholder Approval.
Series E Preferred Stock Conversion	October 16, 2025	Aggregate of 43,000,000 shares of Common Stock	Conversion at holder option or automatically 30 business days after Stockholder Approval.
Series E Non-Voting Convertible Preferred Stock Issuance	October 17, 2025	268,750 shares issued	Following payment of $2,150,000.
Pre-Funded Warrants Issuance	October 16, 2025	Warrants to buy 5,405,406 shares of Common Stock	For aggregate gross proceeds of approximately $6,000,000.

As of November 24, 2025, the total outstanding common stock was 126,010,749 shares.

Online platforms (e.g., company website) for remaining product sales

While the primary revenue-generating operations were sold in January 2025, residual or historical channel performance data provides context for the remaining business focus, which is now centered on fulfilling obligations and strategic planning.

Revenue figures related to the former core product line, Avenova, show channel activity:

• Revenue for the quarter ending September 30, 2025, was $521.00K.
• Trailing twelve months revenue (ending Q3 2025) reached $10.30M, representing a 390.34% year-over-year increase.
• Projected quarterly revenue by December 31, 2025, is estimated at 13 MM.
• For the first half of 2024, sales from eyecare products reached $4.8 million.
• Subscribe & Save customers on Amazon grew by 16% in the first half of 2024, which accounted for approximately 24% of online Avenova revenue.

Historical annual revenue context:

Fiscal Year End	Total Revenue	Year-over-Year Change
December 31, 2024	$9.78M	-6.45%
Year Ended December 31, 2024 (Continuing Ops)	About $9.7 million	Mainly from eyecare sales before divestiture.

Direct communication with stockholders via SEC filings and press releases

Direct communication channels are critical for a company undergoing significant structural changes, such as the dissolution plan or strategic alternatives exploration.

Key filings and dates related to stockholder votes and information dissemination:

• Preliminary Proxy Statement filed with the SEC on Schedule 14A on February 18, 2025, regarding the Special Meeting for the Dissolution proposal.
• Special Meeting of Stockholders held virtually on April 16, 2025.
• At the January 30, 2025, meeting, approximately 49% of all outstanding shares voted in favor of the Dissolution proposal.
• The Form 10-K for the fiscal year ended December 31, 2024, was filed on April 2, 2025.
• Preliminary Proxy Statement for the 2025 Annual Meeting filed on September 10, 2025.
• The 2025 Annual Meeting of Stockholders was intended for October 16, 2025.

Stockholder value events communicated via press release:

• One-Time Special Cash Dividend of $0.80 Per Share declared on August 26, 2025.
• The dividend was payable on September 29, 2025, to stockholders of record as of September 15, 2025.
• The stock price on December 5, 2025, was $1.21, with a 52-week range of $0.46-4.44.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Customer Segments

You're looking at the customer base for NovaBay Pharmaceuticals, Inc. (NBY) right at the end of 2025, post-major strategic shift. The company has definitely pivoted, so the segments reflect both the legacy pharma side and the new direction. Honestly, the numbers tell a story of streamlining.

Speculative and strategic investors seeking exposure to fintech/blockchain

This segment is driven by the company's stated intent to explore opportunities in emerging financial infrastructure and network-based markets, including select blockchain-based assets. You saw the capital restructuring expertise brought in by the new CEO, David E. Lazar, following the August 2025 investment deal. This signals a clear appeal to investors looking for a public vehicle with a new mandate.

Here are the numbers reflecting the current investor landscape and the capital structure underpinning this segment:

Metric	Value as of Late 2025
Share Price (as of Nov 28, 2025)	$1.09 / share
Common Shares Outstanding (as of Nov 4, 2025)	126,010,749 shares
Total Institutional Owners/Shareholders (13D/G/13F Filers)	23
Total Shares Held by Institutions	276,533 shares
Special Cash Dividend Declared (August 2025)	$0.80 per share

The recent corporate actions, like the special dividend and the capital raise, are designed to keep the public listing alive while exploring these new avenues. It's a classic move when a company is repositioning its core business.

Existing customers of remaining pharmaceutical products (e.g., CelleRx)

The pharmaceutical customer base is now much leaner, focusing primarily on wound care following divestitures. While CelleRx isn't explicitly called out with sales figures in the latest reports, the revenue stream is clearly tied to the remaining product portfolio, particularly through international partnerships.

The scale of this remaining customer segment, based on recent financial performance, looks like this:

• Q3 2025 Product Revenue: $521 thousand
• Last Twelve Months Revenue (as of Sep 30, 2025): $10.30M
• Q3 2025 Revenue attributed to Chinese distributor partnership (wound care): $0.5 million (for the three months ended Sep 30, 2025, which doubled year-over-year)

The company is a clinical-stage biotechnology company leveraging its proprietary Aganocide® Technology for anti-infective products. The leading product mentioned in historical context is Avenova Antimicrobial Lid and Lash Solution, though the current focus is wound care.

Potential private companies seeking a reverse merger or public listing

This segment is less about current customers and more about the opportunity NovaBay Pharmaceuticals, Inc. represents as a publicly traded shell, or at least a vehicle for a strategic acquisition. The appointment of a CEO with 'significant capital restructuring and reverse merger expertise' is the clearest indicator here. The company abandoned a plan for dissolution in favor of this new path.

The transaction that enabled this exploration involved a $6 million securities purchase agreement, with $3.85 million received upfront and $2.15 million contingent on stockholder approval in Q4 2025. The total authorized issuance related to preferred stock conversion and warrants could involve up to 120 million shares. This influx of capital and structural change is what makes NovaBay Pharmaceuticals, Inc. an attractive platform for a private entity looking for a public listing without going through the full IPO process.

Finance: draft pro-forma capitalization table reflecting the October 2025 preferred stock conversion by Friday.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Cost Structure

You're looking at the cost structure for NovaBay Pharmaceuticals, Inc. (NBY) after its major divestitures, which fundamentally changed its expense profile as of late 2025. The focus shifts from scaling multiple product lines to managing a leaner continuing operation, primarily wound care, while dealing with the residual costs of corporate restructuring.

Low operating expenses from streamlined core business (Q3 2025: $1.30 million). This figure represents the total operating expenses for the third quarter of 2025, reflecting a significant reduction from prior periods when the eyecare and skincare segments were active. This low base is a direct result of the strategic pivot away from larger commercial infrastructures.

General and administrative (G&A) expenses for public company compliance remain a necessary fixed cost, though they have seen reductions post-divestiture. For the three months ended September 30, 2025, G&A expenses were reported at $1.21 million. This is a notable decrease, as G&A expenses for the same period in 2024 were higher, and Q1 2025 G&A was $2.7 million.

Costs associated with strategic exploration and due diligence are now manifesting as non-recurring or one-time charges related to the ongoing evaluation of the company's future, which includes exploring opportunities in emerging financial infrastructure. For the third quarter of 2025, impairment expenses, which can capture write-downs related to strategic shifts or asset evaluation, totaled $87,000.

Minimal cost of goods sold (COGS) relative to prior scale. With the cessation of major product lines, the Cost of Sales for the continuing wound care business is significantly smaller. For the quarter ending September 30, 2025, the Cost of Sales was $0.48 million, which contrasts sharply with the overall expense structure of the company before the early 2025 divestitures.

Here's a quick look at the key cost components for the continuing operations in Q3 2025:

Cost Category	Amount (USD)	Period
Total Operating Expenses	$1,300,000	Q3 2025
General and Administrative Expenses	$1,210,000	Q3 2025
Cost of Sales (COGS)	$480,000	Q3 2025
Impairment Expenses (Strategic/Asset Related)	$87,000	Q3 2025

The operating expense structure shows that G&A consumes the vast majority of the total operating spend for the continuing operations. To be fair, the remaining operating expenses, which would include Sales & Marketing, are quite small:

• Total Operating Expenses: $1.30 million
• Less: General and Administrative Expenses: $1.21 million
• Implied Other Operating Expenses (e.g., S&M): $0.09 million

This tight control over Sales and Marketing spend, down to an implied $90,000 for the quarter, highlights the streamlined nature of the remaining business, which is largely focused on exports to China.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Revenue Streams

You're looking at the revenue picture for NovaBay Pharmaceuticals, Inc. (NBY) after some major strategic shifts, so the streams are quite different now compared to a few years ago. The focus has clearly narrowed, making the existing and one-time sources stand out.

The primary, albeit minimal, revenue generation comes from the remaining core business operations, which are now much leaner following significant divestitures earlier in 2025. Honestly, you need to watch this segment closely to see if it can achieve self-sustainability.

• Minimal product sales from continuing operations (Q3 2025: $521 thousand)
• Interest income on cash reserves (minimal)

The company's financial position as of late 2025 is heavily influenced by the proceeds from asset sales, which are now classified under discontinued operations but provide the current liquidity runway. As of September 30, 2025, NovaBay Pharmaceuticals, Inc. reported cash and cash equivalents of $2.31 million.

The largest single financial event impacting the recent consolidated results was the sale of the Avenova brand and related assets. This is a key number to track, even though it's a one-time event for discontinued operations.

Revenue Source Category	Specific Item/Event	Reported Amount/Value	Operational Status
Continuing Operations Sales	Product Revenue (Q3 2025)	$521 thousand	Continuing Operations
Discontinued Operations Proceeds	Avenova Asset Sale Proceeds	$11.5 million	Discontinued Operations
Discontinued Operations Income	Year-to-Date Gain from Discontinued Ops (Q3 YTD 2025)	$11.08 million	Discontinued Operations
Balance Sheet Item	Cash and Cash Equivalents (September 30, 2025)	$2.31 million	Liquidity/Reserves

Looking forward, the potential for new revenue is tied to the company's stated exploration of different sectors. You can see management is actively evaluating new directions, which is where any significant future revenue growth would have to originate, given the divestitures.

Potential future revenue from new strategic ventures/acquisitions is currently speculative, but the company is evaluating opportunities in:

• Emerging financial infrastructure markets.
• Network-based assets, potentially including select blockchain-based assets.

To be fair, the reported net income for the trailing twelve months ending September 30, 2025, was $3.24 million, but this figure is heavily skewed by the gains from those discontinued operations, not the core business. Finance: draft 13-week cash view by Friday.