New York, January 11, 2026, 19:27 EST — Markets have closed for the day.
- Shares of NovaBay Pharmaceuticals ended at $19.16, more than twice their previous closing price.
- Friday saw roughly 10 million shares change hands, a sharp jump from the stock’s usual trading volume.
- Traders approach Monday focused on follow-through and any new company announcements.
Shares of NovaBay Pharmaceuticals, Inc. surged 102.54% to close Friday at $19.16, swinging between $9.69 and $19.95 during the session. Trading volume hit 9,996,659 shares. In after-hours trading, the stock reached $20.50. (StockAnalysis)
U.S. markets were closed on Sunday, putting the spotlight on the NYSE American-listed microcap as it heads into Monday’s session. The open will be the next key hurdle.
Why it matters now: the float—the shares available for trading—is roughly 12.39 million, compared to 126.01 million total shares outstanding, per StockAnalysis.com. Short interest stood at around 309,674 shares, or 2.5% of that float. Meanwhile, the stock’s 20-day average volume clocked in at about 3.0 million shares, the data shows. (StockAnalysis)
NovaBay reshaped itself through a string of divestitures. The latest quarterly report revealed the company has sold off its DERMAdoctor, Avenova, and PhaseOne units. It also executed a 1-for-35 reverse stock split in May 2024, tightening its share count to boost the stock price.
Speculation has been simmering for months. In August 2025, NovaBay announced a $6 million financing deal, positioning it as an alternative to liquidation after shareholders gave the board the green light to dissolve the company. The stock, the company confirmed, would keep trading on NYSE American. Newly minted CEO David E. Lazar said he was eager to “maintain NovaBay’s public listing and actively explore strategic opportunities.” His predecessor, Justin Hall, praised Lazar’s “reverse merger expertise.” (BioSpace)
NovaBay later informed shareholders in a proxy statement that it aims to pursue a “Post-Investment Transaction” — essentially a strategic acquisition or merger with an active company — though it cautioned it might still dissolve if no suitable target emerges.
An October filing added new twists. NovaBay reported a change of control after R01 Fund LP and Framework Ventures IV L.P. each acquired 45.1% of the outstanding common stock. It also disclosed the conversion of Series D and Series E preferred stock into a combined 120 million common shares. The filing further outlined pre-funded warrants—option-like instruments that allow holders to buy stock later, usually for a minimal exercise price after an upfront payment—covering 5.4 million shares, exercisable post-Jan. 1, 2026, pending stockholder approval.
The company filed its most recent quarterly report on Nov. 7, covering the period ended Sept. 30, according to the SEC’s records. (Securities and Exchange Commission)
The float cuts both ways. If Monday kicks off with no follow-through and volume drops, a stock that surged on limited supply can tumble just as quickly—especially when conversions and warrants can change the share count and the actual tradable supply.
Looking ahead to the week, traders will be tracking if the stock can maintain its gains through Monday’s opening hour, whether trading volume remains significantly above recent levels, and if NovaBay releases any new disclosures shedding light on the price action.
