EMERYVILLE, Calif.— NovaBay Pharmaceuticals, Inc. (NYSE: NBY), a biopharmaceutical company, announced it would refine its business to a strategic focus on products for the eyecare market. In addition, the company said it would see strategic alternatives for some of its wound care, urology and dermatology assets.

The new strategic focus on eyecare will include three primary components. NovaBay will expand its sales and marketing team for Avenova, a daily-use prescription eyecare product and it will continue to develop innovative products for the eyecare market, planning to add new products currently in development over the next 12 to 18 months.

The company said while it remains committed to the partnerships it currently has in wound care with China’s Pioneer Pharma, Korea’s Shin-Poong Pharma and the Middle East’s Biopharm Group to market NeutroPhase; in animal care with Virbac; and in dermatology with Galderma, NovaBay intends to seek additional sources of revenue and reduce expenses by licensing or selling select assets in urology, dermatology, wound care and plastic surgery.

“Following a comprehensive review of our assets, competitive positions, markets and market dynamics we have determined that focusing on eyecare affords NovaBay the best opportunity for near-term revenue growth and, ultimately, profitability and positive operating cash flow,” said Ron Najafi, Ph.D., chairman and CEO of NovaBay. “In addition, we are committed to monetizing other assets. Expenses to support programs outside of eyecare have been significantly reduced, unless these programs are funded through collaborations or partnerships.”

An estimated 30 million Americans suffer from eyelid conditions such as blepharitis, meibomian gland dysfunction (MGD) or dry eye syndrome, collectively representing an estimated $500 million annual market in the U.S. alone. NovaBay recently announced the rebranding of what was previously known as i-Lid Cleanser to Avenova, in order to more clearly differentiate this prescription product from over-the-counter (OTC) wipes. Avenova was cleared by the U.S. Food and Drug Administration as a prescription medical device through the 510(k) process.

Starting in September 2014, with 10 direct medical sales representatives led by eyecare industry marketing leader Glenn Moro, NovaBay has proven the market potential for Avenova. “Based on the metrics and current performance, we will be expanding the sales force to 35 representatives by February and to approximately 50 representatives by July,” said Glenn Moro, marketing leader.

“These sales representatives will be calling on ophthalmologists and optometrists across the U.S. NovaBay’s distribution agreements with McKesson Corporation and Vision Source have made this game-changing product available in 90 percent of the nation’s 67,000 pharmacies and in optometrists’ and ophthalmologists’ offices all across the country,” he added.

With the active support of the key opinion leaders who have joined NovaBay’s Ophthalmic and Optometry Advisory Boards, NovaBay expects to continue its active educational and marketing programs throughout 2015. The company plans to have a very active presence at major eyecare conferences in the coming months.

NovaBay management will host an investment community conference call on Jan. 21 at 12:00 p.m. ET to discuss this announcement and answer questions. Shareholders and other interested parties may participate in the conference call by dialing (866) 880-4999 from within the U.S. or (702) 495-1913 from outside the U.S. and entering the conference identification number 62204781. The live call also will be available at www.novabay.com.

A replay of the call will be available beginning two hours after its completion through 11:59 p.m. ET Feb .4, 2015 by dialing (855) 859-2056 from within the U.S. or (404) 537-3406 from outside the U.S. and entering the conference identification number 62204781. The call will also be archived for 90 days at www.novabay.com.