Shares of NovaBay Pharmaceuticals Inc (NYSEAMERICAN:NBY) increased more than six-fold Monday after the company announced that its Avenova eye-care product is now available without a prescription at Amazon.com.
The Emeryville, California-based biopharmaceutical company said customers can purchase Avenova on Amazon.com Inc's (NASDAQ:AMZN) new direct direct-to-consumer online channel.
NovaBay’s stock exploded 541% to $2.04 a share on heavy volume Monday afternoon.
Treating dry eyes
Avenova, a spray, is designed for the removal of bacteria and debris on and around the eyelid margin that contribute to bacterial eye infections, which represent approximately 85% of the dry eye market, the company said.
“While prescription Avenova continues to be available through retail pharmacies and direct in-office sales by certain eye-care specialists, patients and physicians have asked for greater accessibility to the product," said CEO Justin Hall. "In response, we are launching our new US direct-to-consumer channel, which is a significant step in ensuring easy access at an affordable price."
Avenova, or Avenova Direct as the online version is called, is available from Amazon in the US in a 20 milliliter size for $29.99, the company said.
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