Mark M. Sieczkarek.
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EMERYVILLE, Calif.—NovaBay Pharmaceuticals (NYSE MKT: NBY) announced a corporate restructuring to focus on the commercialization of its prescription Avenova Lid and Lash Cleanser. In a statement released along with its third quarter 2015 financial results (see related story in Financial News below) NovaBay said it is also taking steps to reduce operating expenses with the goal of achieving positive cash flow from operations by the end of 2016. NovaBay chairman Mark M. Sieczkarek has assumed the position of interim president and CEO, effective immediately, replacing former president and CEO, NovaBay founder Ron Najafi, PhD.

“We have an exciting opportunity for continued rapid commercial progress and sales growth with Avenova, and we are taking steps to focus our efforts on further establishing our presence in the largely untapped U.S. market that we estimate at 41 million patients. We are significantly reducing expenses associated with research and development and clinical programs in order to direct all resources to our commercial priorities,” said Sieczkarek. “As interim CEO, I look forward to leveraging my experience with successful medical product launches, including several ophthalmic products, to help NovaBay reach and sustain profitability.”

Sieczkarek previously was CEO of Solta Medical (acquired by Valeant Pharmaceuticals) and of Conceptus (acquired by Bayer HealthCare), where he led the launch of the medical device Essure. Prior to that, he was senior vice president and president of the Americas and Europe for Bausch + Lomb (acquired by Valeant Pharmaceuticals), where he was responsible for overseeing multinational commercial launches of several leading products.

He has served as a member of the NovaBay board of directors since January 2014, was named chairman in April 2015, and has been instrumental in the development of the go-to-market strategy for Avenova.