NovaBay Pharmaceuticals, Inc. (NBY) Declares $0.80 Special Dividend, Boosting Shareholder Value

In this article, we will be taking a look at the 15 Best Biotech Penny Stocks to Invest in Right Now. NovaBay Pharmaceuticals, Inc. is one of them.

NovaBay Pharmaceuticals, Inc. (NYSE:NBY) is a biopharmaceutical company specializing in anti-infective therapies for inflammation and infection-related conditions. Its flagship product, Avenova, is an antimicrobial lid and lash cleanser clinically proven to relieve chronic eye conditions by removing microorganisms and debris. The company also develops hypochlorous acid-based wound care solutions, offering safe and effective treatments for skin and wound infections.

In September 2025, NovaBay Pharmaceuticals, Inc. (NYSE:NBY) announced a one-time special cash dividend of $0.80 per share, payable on September 29 to shareholders of record as of September 15. The dividend represents more than 25% of the current stock price, prompting a market notification from the NYSE regarding potential price impact. This move underscores the corporation’s strong cash position and commitment to returning value to shareholders, highlighting financial stability amid ongoing operations.

Although there were no new product approvals or launches this month, NovaBay Pharmaceuticals, Inc. (NYSE:NBY) continues to focus on its established antimicrobial and eye care portfolio, which maintains solid market performance. The special dividend, alongside the upcoming 2025 annual meeting, reinforces investor confidence and the business’s position as an attractive biotech penny stock. This financial signal suggests potential for continued profitability and strong cash flow in the future.

While we acknowledge the potential of NBY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.