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NovaBay reports $2.7 million in net sales in second quarter

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NovaBay Pharmaceuticals reported net sales of $2.7 million in the second quarter, a 164% increase from $1 million in the same period of 2015, according to a press release.

Net loss was $2.7 million, or $0.36 per share, down from a net loss of $4.9 million, or $1.84 per share, in the second quarter of 2015.

Product revenue, including sales of Avenova, increased 185% to $2.7 million compared with the second quarter of 2015.

Research and development expenses totaled $278,000, an 80% decrease from $1.4 million in the second quarter of 2015, which was attributed to reduced spending on clinical trials. Sales and marketing expenses totaled $2.9 million, an increase of 23% from $2.3 million in the second quarter of 2015, which was attributed to the company’s focus on commercializing Avenova.