On Thursday, NovaBay Pharmaceuticals, Inc. (NYSEMKT:NBY)’s shares gained 18.46%, closed at $0.87.
Formerly on March 26, NovaBay Pharmaceuticals, Inc., stated financial results for the three and 12 months ended December 31, 2014, and offered a business update.
Fourth Quarter 2014 and Recent Commercial Highlights are as follows:
The corporation raised the size of the sales force promoting Avenova™ in early 2015 to 35 medical sales representatives from 15 representatives formerly. Avenova is now promoted to ophthalmologists and optometrists in all major markets across the U.S.
The company signed nationwide distribution contracts for Avenova with McKesson Corporation and Cardinal Health. Avenova is now accessible to be ordered through 90% of the 67,000 retail pharmacies across the U.S.
The company received regulatory clearance for NovaBay’s NeutroPhase from Taiwan’s Food and Drug Administration with anticipated product launch in Taiwan in the first half of 2015 by China Pioneer Pharma.
“We are making progress on the three-part strategy we outlined early this year to achieve near-term proceed growth and, ultimately, drive NovaBay to profitability,” said Ron Najafi, Ph.D., Chairman and CEO of NovaBay.
NovaBay stated sales proceed of $385,000 for the quarter ended December 31, 2014, with gross profit of $89,000. License, collaboration, distribution and other proceed for the fourth quarter of 2014 was $106,000.
Net loss for the fourth quarter of 2014 was $4.5 million, or $0.09 per share, contrast with a net loss for the fourth quarter of 2013 of $4.1 million, or $0.10 per share. The higher net loss in the 2014 quarter was due to spending on sales and marketing activities for Avenova, offset partially by lower spending on research and development. Research and development expenses for the fourth quarter of 2014 of $2.4 million reduced from $4.1 million for the fourth quarter of 2013. Sales, general and administrative expenses for fourth quarter of 2014 of $2.7 million raised from $1.2 million for the fourth quarter of 2013.
NovaBay Pharmaceuticals, Inc., a clinical-stage biotechnology corporation, focuses on developing product candidates for the therapeutic needs of anti-infective market. The corporation operates in four segments: Dermatology, Ophthalmology, Urology, and Wound Care.
Sophiris Bio, Inc. (NASDAQ:SPHS)’s shares jumped 17.12%, and settled at $0.69, during the last trading session on Thursday.
Randall E. Woods, president and chief executive officer of Sophiris Bio, Inc., will present a corporate overview at the 14th Annual Needham Healthcare Conference. The presentation is planned for Wednesday, April 15, 2015 at 2:20 p.m. EDT in New York City.
Sophiris Bio, Inc., a clinical-stage biopharmaceutical corporation, focuses on the research, development, and commercialization of products for the treatment of urological diseases.
At the end of Thursday’s trade, Midway Gold Corp. (NYSEMKT:MDW)’s shares climbed 15.97%, and closed at $0.4117, after the company declared a second gold pour at the Pan Gold Mine in Nevada was achieved Monday, March 30. Recently, we provide an update on the status of the operations at Pan, our current financial position and an outlook for 2015.
In early March, the company offered an update on their financial position in light of challenges associated with covenants, financial tests, and obligations to our lender. Since then, the company has been successful in actively managing their capital needs to reach first gold pour and the generation of cash flow. The company has demonstrated their ability to meet a Q1 production target and to manage their capital needs internally to achieve this important milestone.
With regard to compliance with their debt facility, the company is still expecting a requirement to fund additional working capital as they continue to work through a credit contract amendment that is predictable to address timing and funding of reserve accounts, restructure of loan payment terms and funding of corporate expenditures. The Corporation is pursuing non-dilutive sources of financing, which they believe are reasonable and likely to materialize.
Midway Gold Corp. engages in the attainment, exploration, and development of gold and silver mineral properties in North America. The corporation holds interest in the Pan and Gold Rock Projects located along the prolific Battle Mountain/Eureka gold trend; the Spring Valley property, which is located in the Spring Valley Mining District, Pershing County, Nevada.
Cheetah Mobile Inc. (NYSE:CMCM), ended its Thursday’s trading session with 15.06% gain, and closed at $20.09.
Formerly on March 25, Cheetah Mobile Inc., has made a planned investment in Nanigans, Inc. as the lead investor in Nanigans’ US$24 million Series B financing.
Mr. Sheng Fu, chief executive officer of Cheetah Mobile, stated, “We are happy to declare this planned investment in Nanigans. Nanigans plays an important role in the social and mobile advertising ecosystem, as evidenced by its strong customer base and the large amount of ad spend managed using Nanigans’ software. Investing in Nanigans advertising automation software is a noteworthy step for us as we actively build up our advertising platform and enhance our capabilities globally. With this funding by Cheetah Mobile, Nanigans will be able to quickly expand its social and mobile publisher channels. Cheetah Mobile and Nanigans have also signed a planned commercial contract, and we look forward to working closely with the Nanigans team to create the world’s first-class tools for advertisers and publishers.”
Cheetah Mobile Inc. operates a platform that offer mission critical applications for its users and global content distribution channels for its business partners in the People’s Republic of China.
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