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NovaBay Pharmaceuticals is a medical device company primarily focused on eye care. Co. is focused on commercializing Avenova®, a product sold in the U.S. for cleansing and removing foreign material including microorganisms and debris from skin around the eye, including the eyelid. Avenova is formulated with Co.'s proprietary hypochlorous acid. Co. has developed additional products, including NeutroPhase® for the wound care market and CelleRx® for the dermatology market. Co.'s second product category includes auriclosene, its key clinical-stage Aganocide compound, which is a synthetic molecule with a spectrum of uses against bacteria, viruses and fungi. According to our NBY split history records, NovaBay Pharmaceuticals has had 3 splits.
NBY split history picture
NovaBay Pharmaceuticals (NBY) has 3 splits in our NBY split history database. The first split for NBY took place on September 10, 2002. This was a 4 for 3 split, meaning for each 3 shares of NBY owned pre-split, the shareholder now owned 4 shares. For example, a 1000 share position pre-split, became a 1333.33333333333 share position following the split. NBY's second split took place on December 18, 2015. NBY's third split took place on December 21, 2015. This was a 1 for 25 reverse split, meaning for each 25 shares of NBY owned pre-split, the shareholder now owned 1 share. For example, a 1333.33333333333 share position pre-split, became a 53.3333333333333 share position following the split.

When a company such as NovaBay Pharmaceuticals splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as NovaBay Pharmaceuticals conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the NBY split history from start to finish, an original position size of 1000 shares would have turned into 53.3333333333333 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into NovaBay Pharmaceuticals shares, starting with a $10,000 purchase of NBY, presented on a split-history-adjusted basis factoring in the complete NBY split history. NBY split adjusted history picture

Growth of $10,000.00
Without Dividends Reinvested

Start date: 08/03/2011
End date: 08/03/2021
Start price/share: $22.00
End price/share: $0.66
Dividends collected/share: $0.00
Total return: -97.00%
Average Annual Total Return: -29.56%
Starting investment: $10,000.00
Ending investment: $299.88
Years: 10.01
Date Ratio
09/10/20024 for 3
12/18/20151 for 1
12/21/20151 for 25
NBY is categorized under the Healthcare sector; below are some other companies in the same sector that also have a history of stock splits:

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