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NovaBay reports $4.9 million net loss in second quarter
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NovaBay Pharmaceuticals reported a net loss of $4.9 million, or $0.07 per share, in the second quarter compared to a $2.9 million net loss, or $0.06 per share, in the same quarter of 2014, according to a company press release.
Total revenue was reported at $1 million for the second quarter, an increase from $123,000 in the same quarter in 2014. The increase was attributed to the commercial launch and sales of Avenova, a treatment for blepharitis, meibomian gland dysfunction and dry eye. From the first to the second quarter, Avenova sales grew by 73% to $806,000.
The net loss amount is partially attributable to money spent on sales and marketing activities for Avenova, according to the release.
General and administrative expenses were reported at $4.3 million in the second quarter compared with $1.7 million in the same quarter of 2014.