NovaBay Pharma Announces 1-for-5 Reverse Stock Split

NovaBay Pharma ( (NBY) ) has provided an update.

On February 11, 2026, NovaBay Pharmaceuticals, Inc. announced that its board had approved a 1‑for‑5 reverse stock split of its common stock, following stockholder authorization at the annual meeting on October 16, 2025. The split is scheduled to become effective on February 20, 2026, with split‑adjusted trading to begin on the NYSE American under the unchanged ticker NBY on February 23, 2026.

The reverse stock split will consolidate every five existing shares into one share, cutting the number of shares outstanding from about 130.6 million to roughly 26.1 million, while leaving authorized share counts and par values unchanged. NovaBay expects the action to lift its per‑share price to help maintain compliance with NYSE American’s minimum price listing requirements, while investors’ proportional ownership and voting rights will remain the same, aside from the issuance of additional whole shares in lieu of fractional interests.

The most recent analyst rating on (NBY) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on NovaBay Pharma stock, see the NBY Stock Forecast page.

Spark’s Take on NBY Stock

According to Spark, TipRanks’ AI Analyst, NBY is a Neutral.

The score is primarily held down by weak financial performance (shrinking revenue, very large operating losses, and heavy cash burn). Technicals add near-term weakness with the stock below key short-term moving averages and low momentum readings. Valuation is difficult to assess favorably due to a negative P/E and no dividend, while recent financing-related corporate events raise dilution and strategic risk despite improving access to capital.

To see Spark’s full report on NBY stock, click here.

More about NovaBay Pharma

NovaBay Pharmaceuticals, Inc. operates in the healthcare sector, having historically focused on developing and selling scientifically created and clinically proven eyecare, wound care and skin care products. In early 2026, the company completed a business realignment to adopt a capital allocation strategy centered on acquiring digital assets that provide exposure to economic participation within open digital financial networks.

This strategic pivot shifts NovaBay from a traditional medical products orientation toward a hybrid model with a pronounced focus on digital financial ecosystems. The move positions the company at the intersection of health-related brands and emerging digital asset markets, potentially altering its risk profile and investor base while it seeks new growth avenues.

Average Trading Volume: 1,867,643

Technical Sentiment Signal: Sell

Current Market Cap: $88.33M

See more data about NBY stock on TipRanks’ Stock Analysis page.