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NovaBay Trades Higher After Compliance Plan Accepted By NYSE

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NovaBay Pharmaceuticals (NYSE: NBY) shares are trading higher after the company said its plan of compliance was accepted by the New York Stock Exchange.

NovaBay focuses on commercializing Avenova for the domestic eye care market.

NYSE notified NovaBay on April 12 and May 16 that it was out of compliance with exchange listing requirements. NYSE has determined NovaBay has made a reasonable demonstration of its ability to make progress toward regaining compliance by October 12, 2020.

“We are pleased that our compliance plan has been accepted by the exchange,” said Justin Hall, NovaBay CEO. “We have successfully completed our two near-term strategies: the launch of Avenova Direct on Amazon and our cost reduction plan. We are excited by our new forward momentum."

NovaBay shares traded higher by 3.5% to $1.75 at time of publication. The stock has a 52-week high of $40.04 and a 52-week low of 23 cents.

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