EMERYVILLE, Calif.—NovaBay Pharmaceuticals, Inc. (NYSE American: NBY), a developer of eyecare, skin care and wound care products, has announced that the NYSE American LLC has accepted the company's plan to regain compliance with NYSE American's continued listing standards. "I'm pleased to report on our forward momentum. By divesting an unprofitable business segment earlier this year, we're now able to focus solely on our core competency in eyecare," said Justin Hall, CEO of NovaBay. "Unshackled by past burdens, we are positioned for growth in the large U.S. eyecare market with our established, high-quality Avenova-branded products, effective and cost-efficient digital marketing programs, and loyal customer base. This is an exciting and transformative time for the company."

According to the announcement, the NYSE American has reviewed NovaBay's compliance plan and information that was submitted on May 8, 2024, and determined that the company made a reasonable demonstration of its ability to make substantial progress toward regaining compliance by October 18, 2025. During this time, the company will be subject to quarterly monitoring for compliance with the plan.

If the company does not regain compliance with NYSE American's listing standards by October 18, 2025, or if the company does not make sufficient progress consistent with its plan, then the NYSE American may initiate delisting proceedings at that time, the announcement noted.

As previously disclosed, the NYSE American notified NovaBay Pharmaceuticals on April 18, 2024 and May 28, 2024 that it was not in compliance with the continued listing standards of the NYSE American Company Guide. Specifically, the notifications indicated that the company was not in compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the company guide, requiring a listed company to have a certain amount of stockholders' equity.

The company's receipt of such notification from NYSE American does not affect the company's business operations or its reporting requirements with the U.S. Securities and Exchange Commission, according to the announcement.