NovaBay Pharmaceuticals, Inc. (NBY): Marketing Mix Analysis [Dec-2025 Updated]

You're looking at the late 2025 financials for NovaBay Pharmaceuticals, Inc. and seeing a company that looks nothing like it did a year ago-that's because it isn't one. Honestly, analyzing the 4Ps here isn't about advertising Avenova anymore; it's about mapping a total corporate pivot from anti-infectives to becoming a vehicle for a new strategic transaction. We're talking about divesting the core business in January 2025, seeing product revenue drop to just $521 thousand in Q3, and the primary 'Price' action becoming a $0.80 per share special cash dividend paid in September. If you want to understand how the 'Product' became an acquisition target, 'Place' shifted to M&A channels, and 'Promotion' now means investor relations filings, read on for the full breakdown.

NovaBay Pharmaceuticals, Inc. (NBY) - Marketing Mix: Product

The product element for NovaBay Pharmaceuticals, Inc. as of late 2025 reflects a near-total cessation of its former life sciences offerings following significant asset sales.

Core business is a strategic pivot to emerging financial infrastructure and blockchain assets. The company is no longer focused on developing its former anti-infective product portfolio.

The transition involved the divestiture of its primary revenue-generating segments:

• Divested Wound Care segment on January 8, 2025.
• Sold primary eyecare business, Avenova Assets, on January 17, 2025 for $11.5 million.

Continuing product operations are minimal, yielding only $521 thousand in revenue for the third quarter of 2025.

The remaining operational footprint is limited to fulfilling residual contractual obligations for the manufacture and delivery of wound care products and performance of services under the PRN Transition Services Agreement.

The company is now positioned as a shell entity actively pursuing a strategic investment or acquisition, rather than product development.

The following table details the financial impact of the product divestitures and the resulting minimal continuing revenue stream.

The company's former product line included Avenova Antimicrobial Lid and Lash Cleansing Spray, NeutroPhase, i-Lid Cleanser, and Nexagon.

The current strategic direction is focused on maintaining the public listing to facilitate a new venture, in lieu of the previously authorized plan for liquidation and dissolution.

• The company is exploring opportunities in emerging financial infrastructure.
• The strategy may include select blockchain-based assets.
• The company has filed to register up to $200 million in new securities to fund this strategic pivot.

NovaBay Pharmaceuticals, Inc. (NBY) - Marketing Mix: Place

The Place strategy for NovaBay Pharmaceuticals, Inc. has undergone a fundamental transformation, moving away from traditional product distribution channels toward a focus on corporate finance and strategic transactions as the primary means of value delivery. This pivot is a direct result of the divestiture of its operational assets.

Shifted from pharmaceutical distribution to capital markets and M&A channels. NovaBay Pharmaceuticals, Inc. sold off its core operating assets, specifically its eye care and wound care businesses, including brands like Avenova, NeutroPhase, and DERMAdoctor, in early 2025. This action signals a complete reorientation of the company's 'place' from physical product movement to capital structure management and asset acquisition.

Former distribution via online OTC channels (like Amazon) and retail pharmacies is largely gone. The sale of the product lines effectively eliminated the need for the previous distribution network. For the fiscal year ended December 31, 2024, revenue from what were considered continuing operations-mostly those eye care products-was approximately $9.7 million. This historical revenue stream is no longer the focus of the company's 'place' strategy.

Primary operational focus is now Emeryville, CA headquarters for corporate finance and strategy. The corporate base remains in Emeryville, California, with the business address listed at 2000 Powell Street, Suite 1150, Emeryville, CA, 94608. The activities emanating from this location are now centered on corporate strategy and financial engineering, evidenced by the company regaining compliance with NYSE American continued listing standards on October 20, 2025.

The new market is the financial sector for a 'strategic investment and/or acquisition.' The current 'place' of business is the capital markets, where NovaBay Pharmaceuticals is positioning itself to raise capital and explore new ventures. The company has filed documentation indicating an intention to offer new securities up to $200 million. This strategic exploration includes looking at emerging financial infrastructure, network-based markets, and blockchain-based assets.

Distribution of value to shareholders via a special cash dividend was a key action. A significant action demonstrating the focus on shareholder value distribution was the declaration of a one-time special cash dividend. This distribution was a direct return of value following the asset sales.

Key financial actions supporting this strategic shift are summarized below:

The company's capital structure management has been active, involving significant transactions to reorganize equity and secure new funding, which is the new form of 'place' or deployment of capital.

• Conversion of Series D Preferred Stock into an aggregate of 77,000,000 shares of Common Stock approved on October 16, 2025.
• Stockholders approved a reverse stock split with a ratio between 1-for-2 and 1-for-10.
• The company is authorized to issue up to 1,500,000,000 shares of common stock.
• As of late November 2025, there were over 126 million shares of common stock outstanding.

The shift in 'Place' is not about where a physical product sits, but where the company's focus and capital are directed. Finance: draft 13-week cash view by Friday.

NovaBay Pharmaceuticals, Inc. (NBY) - Marketing Mix: Promotion

For NovaBay Pharmaceuticals, Inc. (NBY) as of late 2025, the promotional activities are almost entirely centered on corporate finance communication, investor relations, and SEC filings, rather than traditional product advertising, especially following the divestiture of its eyecare business earlier in the year. You see, when a company is executing a major capital restructuring, the primary audience for its 'promotion' becomes its existing and potential investors, not necessarily the end consumer.

The entire promotional narrative is currently anchored by the arrival of the new Chief Executive Officer, David E. Lazar, and the strategic transaction he spearheaded. This communication strategy is designed to signal a complete pivot away from the prior path of potential dissolution, which stockholders had authorized the Board to pursue at the Special Meeting on April 16, 2025. The promotion here is about selling the new corporate story.

The most significant promotional event was the August 19, 2025, announcement detailing the $6 million securities purchase agreement with Mr. Lazar. This was a critical piece of corporate messaging, effectively replacing the dissolution narrative with one of continued public listing and strategic pursuit. The initial closing of this agreement provided $3.85 million immediately, with the remaining $2.15 million contingent on stockholder approval.

The communication efforts around this transaction were multi-faceted, aiming to build immediate confidence and secure necessary future votes. Here's a quick look at the key financial and event data points used in this promotional push:

Corporate messaging was explicitly designed to maintain the public listing on the NYSE American exchange, directly countering the prior authorization for dissolution. The narrative stressed that the Lazar investment was the path to pursuing a strategic investment and/or acquisition instead. This was reinforced by immediate shareholder benefits designed to secure goodwill ahead of the critical vote.

The key promotional actions taken to secure stockholder support for the second closing and strategic direction included:

• Appointment of David E. Lazar as CEO effective immediately upon the first closing.
• Declaration of a one-time special cash dividend of $0.80 per share.
• The special dividend was equivalent to over 25% of the stock's price at announcement.
• The dividend announcement ignited a trading surge of 75-86% in early August.
• The company intended to use proceeds to pursue strategic investment or acquisition.
• The goal was to secure stockholder approval for the second closing investment tranche.

The October 2025 Annual Meeting served as the ultimate promotional checkpoint for the new strategy. Stockholder approval was successfully obtained on October 16, 2025, for several proposals, including the conversion of the Series D and Series E Preferred Stock into common stock. This approval was crucial for the second closing of the Lazar investment, which involved the remaining $2.15 million.

The conversion itself was a significant, albeit technical, promotional outcome, demonstrating the execution of the approved plan. The conversion details, filed in late October 2025, show the immediate impact on the capital structure:

• Series D Non-Voting Convertible Preferred converted into 35,306,080 shares of Common Stock.
• Series E Non-Voting Convertible Preferred converted into 21,500,000 shares of Common Stock.
• The total conversion involved 56,806,080 shares of common stock issued on October 21, 2025.

The overall promotional focus has shifted from product marketing to capital structure management and strategic repositioning, a common occurrence for companies emerging from near-liquidation scenarios. As of November 24, 2025, the estimated aggregate market value of common stock held by non-affiliates was only about $5.9 million, underscoring the small-cap, investor-focused nature of current communications. Finance: draft 13-week cash view by Friday.

NovaBay Pharmaceuticals, Inc. (NBY) - Marketing Mix: Price

You're looking at the pricing element for NovaBay Pharmaceuticals, Inc. (NBY) in late 2025, and honestly, the traditional product pricing strategy is overshadowed by corporate finance actions. The core business's pricing power seems secondary right now, given the financial structure.

Product pricing is irrelevant given the minimal Q3 2025 gross profit of only $42 thousand. That figure comes from the Q3 2025 10-Q filing, where product revenue was just $521 thousand for the quarter. When gross profit is that slim, focusing on the price tag of a specific drug or solution takes a backseat to overall corporate liquidity and shareholder return mechanics.

The primary "price" action, in terms of shareholder value distribution, was a $0.80 per share special cash dividend paid in September 2025. This was a one-time event, payable on September 29, 2025, to stockholders of record as of the close of business on September 15, 2025. Because this payout represented more than 25% of the stock's price, the NYSE American required trades to occur with "due bills" between the record date and the payment date.

The stock price (NBY) was trading around $1.09 as of early December 2025. Specifically, on December 04, 2025, the stock closed at $1.0900, having gained 2.83% on that day from a previous close of $1.06. The 52-week trading range shows a low of $0.4600 and a high of $4.4400. This market valuation is what the dividend was measured against, which is a key external factor to consider in any pricing strategy.

Valuation is driven by cash on hand and the potential value of the new strategic transaction. As of September 30, 2025, NovaBay Pharmaceuticals, Inc. reported cash and cash equivalents of $2.31 million. The company is actively evaluating opportunities in emerging financial infrastructure and network-based markets, which is where the perceived future value, or the market's current pricing expectation, is anchored.

To give you a clearer picture of the financial context surrounding these pricing and distribution decisions, here are some key figures from the recent filings:

The company received $3.85 million initial funding from the new CEO's investment in August 2025. This was the first of two closings under a total $6 million securities purchase agreement with David E. Lazar, who was appointed CEO effective immediately. This capital infusion was explicitly intended to support the continued public listing and fund a future strategic transaction, which is the core driver of current market sentiment and, by extension, the stock price you see today.

The pricing decisions, or lack thereof in terms of product strategy, are clearly tied to these corporate finance events. You can see the immediate impact of the capital raise and dividend declaration on shareholder perception:

• Stock gained 76.32% in the five days following the dividend announcement.
• The total investment agreement size is $6 million.
• The second closing is expected to bring in an additional $2.15 million.
• The stock traded with a 52-week high of $4.4400.
• The dividend represented over 90% of the closing stock price at the time of announcement.

Finance: draft 13-week cash view by Friday.