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NovaBay reports lower net loss in 2016

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NovaBay Pharmaceuticals reported a net loss of $13.2 million, or $1.40 per share, in 2016 compared with a net loss of $19 million, or $6.82 per share, in 2015, according to a company press release.

In the fourth quarter, the company had a net loss of $1.6 million, or $0.11 per share, compared with a net loss of $4.2 million, or $1.26 per share, in the same time period the previous year.

Net sales were up 172% in 2016 from $4.4 million to $11.9 million, which the company attributed to higher sales of Avenova.

Research and development costs in 2016 were down 76% to $1.4 million, whereas sales and marketing costs went up to $11.8 million, an increase of 12%.