NovaBay Pharmaceuticals Receives Non-Compliance Letter From NYSE American

NovaBay Pharmaceuticals (NBY) early Wednesday said it received a notice from the NYSE American stock exchange informing the biopharmaceutical firm that it is not in compliance with its listing rules requiring stockholders' equity of $6 million or more if the company has reported losses from continuing operations and or net losses in its five most recent fiscal years.

NYSE American has now required the company to submit a plan of compliance by May 12 addressing how it plans to regain compliance by Oct. 12. NovaBay CEO Justin Hall said in a statement that the company fully intends to submit a plan to regain compliance with NYSE American's listing standards within the required time period.

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