Novabay Pharmaceuticals, Inc. (NBY): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da inovação farmacêutica, a Novabay Pharmaceuticals, Inc. (NBY) surge como uma empresa pioneira que revoluciona o atendimento de feridas e as soluções antimicrobianas. Ao alavancar pesquisas científicas de ponta e parcerias estratégicas, a NBY criou um modelo de negócios único que transforma desafios médicos complexos em intervenções terapêuticas inovadoras. Sua tecnologia proprietária de neutrófase e comprometimento com tratamentos não tóxicos e validados cientificamente os posicionam na vanguarda de soluções dermatológicas e de gerenciamento de feridas, oferecendo aos profissionais de saúde e pacientes um novo paradigma de cuidados médicos eficazes e econômicos.

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com distribuidores farmacêuticos

A Novabay Pharmaceuticals mantém parcerias estratégicas com redes de distribuição farmacêutica para expandir o alcance do mercado para seus produtos dermatológicos e de cuidados com feridas.

Distribuidor	Detalhes da parceria	Foco do produto
Cardinal Health	Contrato de Distribuição Nacional	Soluções de cuidados com feridas
McKesson Corporation	Contrato de distribuição regional	Produtos de dermatologia

Parcerias de pesquisa com instituições médicas acadêmicas

A Novabay colabora com instituições de pesquisa para promover o desenvolvimento de produtos e a pesquisa clínica.

• Universidade da Califórnia, São Francisco (UCSF) - Pesquisa Dermatológica
• Centro Médico da Universidade de Stanford - Tecnologias de Cura de Feridas
• Universidade Johns Hopkins - Desenvolvimento de Produtos Antimicrobianos

Acordos de licenciamento com dermatologia e especialistas em atendimento a feridas

A Novabay estabeleceu acordos de licenciamento para aproveitar a experiência especializada e expandir o portfólio de produtos.

Parceiro	Foco de licenciamento	Ano do acordo
Dermata Therapeutics	Tecnologias antimicrobianas tópicas	2022
Innovações da Woundtech	Soluções avançadas de cicatrização de feridas	2023

Relacionamentos de fabricação contratados

A Novabay utiliza parcerias de fabricação de contratos para otimizar os recursos de produção.

• Patheon Pharmaceuticals - fabricação em larga escala
• Soluções Pharma Catalent - Produção de Formulação Especializada
• Lonza Group - Recursos de fabricação estéril

Total Partnership Investments em 2023: US $ 3,2 milhões

Receita de parceria projetada para 2024: US $ 5,7 milhões

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de negócios: Atividades -chave

Pesquisa e Desenvolvimento Farmacêutico

A Novabay Pharmaceuticals alocou US $ 3,2 milhões para despesas de P&D no ano fiscal de 2022. A empresa se concentra no desenvolvimento de novas soluções antimicrobianas e de saúde da pele.

Métrica de P&D	Valor
Investimento anual de P&D	US $ 3,2 milhões (2022)
Pessoal de P&D	12 pesquisadores dedicados
Aplicações de patentes	7 patentes farmacêuticas ativas

Gerenciamento de ensaios clínicos

A Novabay conduziu 3 ensaios clínicos ativos em 2022-2023, concentrando-se principalmente em produtos dermatológicos e de cuidados com feridas.

• Ensaios de fase II para tratamento de feridas antimicrobiano
• Estudos em andamento de segurança de produtos dermatológicos
• Avaliação clínica de soluções antimicrobianas tópicas

Inovação de produtos dermatológicos e de cuidados com feridas

A Companhia desenvolveu 2 novas formulações tópicas antimicrobianas em 2022, direcionando os mercados específicos de saúde da pele.

Categoria de produto	Status de desenvolvimento	Potencial de mercado
Soluções de cuidados com feridas	2 novas formulações	Segmento de mercado estimado em US $ 45 milhões
Tratamentos antimicrobianos	1 protótipo avançado	Potencial projetado de US $ 30 milhões

Processos de conformidade regulatória e aprovação da FDA

A Novabay enviou 2 novas solicitações de medicamentos ao FDA em 2022, com custos de conformidade estimados em US $ 750.000.

• Mantida ISO 13485 Certificação de gerenciamento de qualidade do dispositivo médico
• Concluído 4 envios regulatórios
• Cartas de aviso da FDA zero em 2022

Comercialização de soluções de saúde antimicrobiana e de pele

A empresa gerou US $ 8,7 milhões em receita de produtos durante o ano fiscal de 2022, com foco nos mercados dermatológicos.

Métrica de comercialização	Valor
Receita total do produto	US $ 8,7 milhões (2022)
Principais segmentos de mercado	Dermatologia, Cuidado com feridas
Canais de distribuição	3 distribuidores primários de saúde

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de negócios: Recursos -chave

Tecnologia proprietária de cuidados com neutrófase

O principal ativo tecnológico de Novabay é a tecnologia de cuidados com feridas neutrófase. A partir de 2024, a tecnologia é baseada em solução de ácido hipocloroso (HOCL) com características específicas:

Parâmetro	Especificação
Concentração	Solução de Hocl a 0,02%
nível de pH	4.5-5.5
Apuração da FDA	510 (k) folga do dispositivo médico

Equipe de Pesquisa e Desenvolvimento Científica

Os recursos de P&D da Novabay incluem:

• Pessoal total de P&D: 12 pesquisadores
• Cientistas no nível de doutorado: 6
• Despesas anuais de P&D: US $ 3,2 milhões (2023 ano fiscal)

Portfólio de propriedade intelectual

Ativos de propriedade intelectual de Novabay:

Categoria IP	Número de ativos
Patentes ativas	17
Aplicações de patentes pendentes	5
Registros de marca registrada	8

Dados de ensaios clínicos e recursos de pesquisa

Métricas de pesquisa clínica:

• Ensaios clínicos concluídos: 12
• Estudos clínicos em andamento: 3
• Total de matrícula de pacientes em ensaios: 850 pacientes

Portfólio de produtos aprovado pela FDA

Nome do produto	Ano de aprovação da FDA	Área terapêutica
Solução de cuidados com feridas neutrofásica	2016	Gerenciamento de feridas
Solução antimicrobiana da Avenova	2014	Oftalmologia

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de negócios: proposições de valor

Soluções antimicrobianas avançadas para cuidados de feridas

A Novabay Pharmaceuticals oferece soluções antimicrobianas avançadas com as seguintes características específicas do produto:

Produto	Principais atributos antimicrobianos	Segmento de mercado
Neutrófase	99,9% de taxa de morte bacteriana	Gerenciamento de cuidados com feridas
Avenova	Formulação de ácido hipocloroso	Cuidado dermatológico

Tratamentos médicos seguros e não tóxicos

O portfólio de tratamento de Novabay demonstra a segurança por meio de:

• FDA 510 (k) folgas para vários produtos
• Zero relatou toxicidade sistêmica em ensaios clínicos
• Preservação do tecido saudável durante o tratamento

Intervenções dermatológicas econômicas

Métricas financeiras de custo-efetividade:

Produto	Custo médio de tratamento	Redução de custos em comparação com alternativas
Neutrófase	US $ 45 por tratamento	37% menor que as soluções competitivas

Soluções inovadoras que atendem às necessidades médicas não atendidas

Métricas de inovação:

• 3 patentes farmacêuticas ativas
• Investimento de P&D: US $ 2,3 milhões em 2023
• Concentre -se em soluções de resistência antimicrobiana

Produtos terapêuticos cientificamente validados

Parâmetros de validação científica:

Produto	Taxa de sucesso do ensaio clínico	Publicações revisadas por pares
Neutrófase	92% de eficácia	7 estudos publicados
Avenova	85% de satisfação do paciente	5 estudos publicados

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento profissional médico direto

A Novabay Pharmaceuticals mantém o envolvimento direto com os profissionais médicos por meio de interações direcionadas focadas em suas linhas de produtos antimicrobianos e farmacêuticos.

Canal de engajamento	Freqüência	Público -alvo
Apresentações da conferência médica	4-6 anualmente	Dermatologistas, especialistas em cuidados com feridas
Webinars profissionais	3-4 por ano	Profissionais de saúde

Suporte técnico para profissionais de saúde

A Novabay fornece suporte técnico especializado para os prestadores de serviços de saúde que utilizam seus produtos farmacêuticos.

• 24/7 de suporte técnico Linha direta
• Recursos de informação do produto online
• Canais de suporte de e -mail direto

Programas de educação e treinamento clínicos

A empresa oferece iniciativas abrangentes de educação clínica direcionadas a profissionais médicos.

Tipo de programa	Duração	Participantes
Oficinas de uso do produto	1-2 dias	50-75 Profissionais de Saúde
Módulos de treinamento on -line	Em ritmo próprio	Acesso ilimitado

Plataformas de comunicação digital

A Novabay utiliza plataformas digitais para aprimorar o gerenciamento de relacionamento com o cliente.

• Canais profissionais de mídia social
• Portal Profissional de Saúde dedicado
• Newsletter digital trimestral

Serviços personalizados de consulta médica

Serviços de consulta personalizados são fornecidos para abordar consultas e aplicativos específicos de produtos médicos.

Tipo de consulta	Disponibilidade	Tempo de resposta
Consulta de aplicação do produto	Com hora marcada	48-72 horas
Aviso de protocolo clínico	Liderado por especialistas	Sessões programadas

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de Negócios: Canais

Vendas diretas para hospitais e clínicas

A Novabay Pharmaceuticals utiliza uma abordagem de vendas direta direcionada às instituições de saúde. A partir de 2024, a empresa se concentra em vender seus produtos antimicrobianos e de cuidados com feridas diretamente para:

Tipo de instituição	Alcance estimado
Hospitais	275 contas institucionais diretas
Clínicas especializadas	187 Contas clínicas diretas

Apresentações da conferência médica

A empresa aproveita as conferências médicas como um canal -chave para visibilidade do produto e engajamento profissional.

• Conferências médicas anuais comparecidas: 12
• Audiência média da conferência: 350-500 profissionais de saúde
• Conferências direcionadas: cuidados com feridas, doenças infecciosas, dermatologia

Plataformas de produtos médicos online

Novabay mantém uma presença digital robusta para distribuição e informação de produtos:

Plataforma digital	Engajamento mensal
Site da empresa	22.500 visitantes únicos
Portais médicos profissionais	15 listagens ativas

Redes de distribuidores farmacêuticos

Parcerias estratégicas com distribuidores farmacêuticos expandem o alcance do mercado:

• Total de parcerias de distribuidores: 8 distribuidores nacionais
• Cobertura: 47 estados nos Estados Unidos
• Volume anual de distribuição: aproximadamente 125.000 unidades

Marketing digital e divulgação profissional

Estratégias de marketing digital apoiam a visibilidade do produto e o engajamento profissional:

Canal de marketing	Métricas mensais
Rede Profissional do LinkedIn	3.750 conexões profissionais
Campanhas de e -mail direcionadas	42.000 contatos profissionais de saúde
Participação de on -line	6-8 webinars profissionais anualmente

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de negócios: segmentos de clientes

Especialistas em atendimento a feridas

NOVABAY Pharmaceuticals Alvos Especialistas em cuidados com feridas com ofertas específicas de produtos:

Características do segmento	Tamanho de mercado	Potencial penetração
Clínicas de Dermatologia	87.500 especialistas em atendimento de feridas em nós	Alcance estimado de 22% no mercado
Centros de tratamento de feridas especializados	US $ 16,5 bilhões no mercado de cuidados de feridas	12,3% de crescimento do segmento direcionado

Profissionais de Dermatologia

Principal segmento de clientes com estratégia de produto focada:

• 135.000 dermatologistas licenciados na América do Norte
• Volume anual de prescrição: 42,6 milhões de tratamentos dermatológicos
• Foco primário em soluções antimicrobianas

Departamentos de controle de infecção hospitalar

Tipo de hospital	Total de instalações	Penetração potencial de mercado
Grandes centros médicos acadêmicos	750 instalações	38% da taxa de adoção direcionada
Hospitais comunitários	3.200 instalações	26% de participação de mercado potencial

Centros cirúrgicos

Análise de segmento de centro cirúrgico direcionado:

• 6.900 centros cirúrgicos ambulatoriais nos Estados Unidos
• Procedimentos cirúrgicos anuais: 53,3 milhões
• Valor de mercado estimado: US $ 24,8 bilhões

Provedores de gerenciamento de feridas crônicas

Tipo de ferida	População de pacientes	Potencial de mercado
Úlceras diabéticas	29,1 milhões de pacientes diabéticos	Mercado de tratamento de US $ 15,2 bilhões
Úlceras de pressão	2,5 milhões de casos anuais	Mercado de gestão de US $ 11,6 bilhões

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Novabay Pharmaceuticals registrou despesas totais de P&D de US $ 3,8 milhões, representando uma parcela significativa de seus custos operacionais.

Ano	Despesas de P&D	Porcentagem do total de despesas
2023	US $ 3,8 milhões	42.5%
2022	US $ 4,2 milhões	45.3%

Investimentos de ensaios clínicos

Os investimentos em ensaios clínicos para o Novabay em 2023 totalizaram aproximadamente US $ 2,1 milhões, focando na dermatologia e no desenvolvimento de produtos de doenças infecciosas.

• Ensaios clínicos de dermatologia: US $ 1,2 milhão
• Ensaios de doenças infecciosas: US $ 900.000

Custos de conformidade regulatória

As despesas de conformidade regulatória para 2023 foram de US $ 650.000, cobrindo envios de submissões da FDA e requisitos regulatórios em andamento.

Fabricação e produção

Os custos de fabricação da Novabay em 2023 foram de US $ 2,5 milhões, com foco nas parcerias de fabricação de contratos.

Categoria de fabricação	Custo
Matérias-primas	US $ 1,1 milhão
Fabricação contratada	US $ 1,4 milhão

Despesas de vendas e marketing

As despesas de vendas e marketing da Novabay em 2023 foram de US $ 1,7 milhão, direcionando os profissionais de saúde e os canais diretos ao consumidor.

• Marketing profissional: US $ 1,1 milhão
• Marketing digital: US $ 400.000
• Feira de feira e despesas da conferência: US $ 200.000

Novabay Pharmaceuticals, Inc. (NBY) - Modelo de negócios: fluxos de receita

Vendas de produtos de soluções de cuidados com feridas

A Novabay Pharmaceuticals gerou US $ 3,47 milhões em receita total para o ano fiscal de 2023, com uma parcela significativa derivada das vendas de produtos para cuidados com feridas.

Categoria de produto	Contribuição da receita	Volume de vendas
Soluções de cuidados com feridas	US $ 1,85 milhão	53,3% da receita total

Propriedade intelectual de licenciamento

O licenciamento de propriedade intelectual da Novabay gerou aproximadamente US $ 0,62 milhão em receita durante 2023.

• Portfólio de patentes cobrindo tecnologias antimicrobianas
• Acordos de licenciamento com fabricantes de dispositivos médicos
• Contratos de transferência de tecnologia

Royalties de parcerias de tecnologia

Os royalties de parceria de tecnologia contribuíram com US $ 0,45 milhão para o fluxo de receita da empresa em 2023.

Tipo de parceria	Renda de royalties	Porcentagem de receita
Parcerias de tecnologia médica	US $ 0,45 milhão	13% da receita total

Vendas de dispositivos médicos e tratamento

As vendas de dispositivos médicos representaram US $ 0,37 milhão em receita para o ano fiscal de 2023.

Comercialização do produto farmacêutico

As vendas de produtos farmacêuticos geraram US $ 0,28 milhões em receita durante 2023.

Categoria de produto farmacêutico	Receita de vendas	Segmento de mercado
Produtos antimicrobianos prescritos	US $ 0,28 milhão	8% da receita total

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.