Benzinga | Aug 18, 2020 12:05PM EDT

Why NovaBay's Stock Is Trading Higher Today

NovaBay Pharmaceuticals, Inc. (NYSE:NBY) shares are trading higher after the company announced the launch of its Avenova Facial Sanitizer on Walmart Inc. (NYSE:WMT) website.

"The availability of Avenova through online retail giant Walmart is a major win for NovaBay and our customers," said Justin Hall, NovaBay's CEO. "We continue to view online sales as the greatest growth channel for Avenova, particularly as pandemic-concerned consumers shift to buying more products online."

NovaBay is a biopharmaceutical company that develops and commercializes non-antibiotic anti-infective products to address the therapeutic needs of the anti-infective market in the United States and internationally.

NovaBay's stock was trading up 10.42% at $1.06 per share on Monday at the time of publication. The company has a 52-week high of $1.94 and a 52-week low of $0.24.