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NovaBay Pharmaceuticals, Inc. Announces Fourth Quarter and Full Year 2008 Financial Results
Date:4/1/2009

's second collaboration with a worldwide market leader after our alliance with Alcon in the ophthalmic, otic and sinusitis fields. We expect to maintain a low cash burn in 2009 as we work closely with our partners that fund clinical development costs, and as we focus investment on developing our earlier-stage internal pipeline programs for which we anticipate proof-of-concept data later this year."

2008 and Recent Highlights

  • Ophthalmic: NovaBay continues to work closely with Alcon, Inc. to commercialize Aganocide compounds to treat infections of the eye, ear and sinus, and to develop the next generation of contact lens solutions. Alcon recently initiated a Phase I clinical trial of NVC-422 (N,N-dichloro-2,2-dimethyltaurine), NovaBay's lead Aganocide compound, after receiving clearance of an Investigational New Drug (IND) application from the U.S. Food and Drug Administration in January 2009. The IND clearance triggered an immediate milestone payment of $1 million from Alcon to NovaBay.

  • Dermatology: In March 2009, NovaBay announced a global agreement with Galderma, S.A. to develop and commercialize Aganocides for large dermatological markets such as acne, impetigo and other conditions. Under the terms of the agreement, NovaBay expects to receive from Galderma up to $50 million upon achievement of certain development and regulatory milestones related to the acne and impetigo indications and escalating double digit royalties on future net sales of products. Galderma will be responsible for the development costs of the acne and other indications, except in Japan, and for the ongoing development program for impetigo, upon the achievement of a specified milestone. NovaBay also announced in March new data presented at the American Academy of Dermatology 67th Annual Meeting that showed NVC-422 achieved significant clinical and myco
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