Monday, June 10, 2019
NovaBay triples with Avenova available on Amazon without prescription
Shares of NovaBay Pharmaceuticals Inc. NBY, +211.32% more than tripled in very active premarket trade Monday, after the biopharmaceutical company said its Avenova eye-care product is now available without a prescription on Amazon.com AMZN, +2.24% through its new direct-to-consumer online channel. Avenova is a lid and lash spray, designed to remove bacteria and debris on and around the eyelid margin. The stock rocketed 262% on volume of 1.1 million shares, to make it the most actively traded ahead of the open. “While prescription Avenova continues to be available through retail pharmacies and direct in-office sales by certain eye care specialists, patients and physicians have asked for greater accessibility to the product,” said NovaBay Chief Executive Justin Hall. “In response, we are launching our new U.S. direct-to-consumer channel, which is a significant step in ensuring easy access at an affordable price.” The stock had tumbled 59% year to date through Friday, while the S&P 500 SPX, +0.71% has gained 15%.
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