NovaBay shares rise 10.06% intraday after declaring $0.80 special dividend.

NovaBay Pharmaceuticals (NBY) rose 10.06% during intraday trading following its announcement that it has regained compliance with NYSE American continued listing standards. This development addresses prior concerns about the company’s regulatory status and signals improved corporate governance, bolstering investor confidence. The move aligns with the stock’s recent positive trajectory, which was also driven by the declaration of a $0.80 special dividend and a $6 million securities purchase agreement with investor David E. Lazar. However, the most immediate catalyst appears to be the compliance news, which removes a key overhang on the stock and positions the company for stable operations.