NovaBay Pharmaceuticals, Inc.

Stablecoin Development Corporation reported a Q2 2026 operating loss of $53.8 million, primarily due to a $50.6 million non-cash unrealized loss on digital assets. The company generated $2.2 million in staking revenue for the quarter and grew its SKY token holdings to 2.29 billion, representing approximately 10% of the total supply. Additionally, SDEV eliminated all remaining warrant liabilities and relocated its headquarters to West Palm Beach, Florida, to reduce costs.

Stablecoin Development Corporation, formerly NovaBay Pharmaceuticals, Inc., reported a net loss of $(41.07) million for the second quarter of 2026, but a net income of $511.33 million for the six months ended June 30, 2026, largely driven by non-cash gains on warrant liabilities. The company's strategic repositioning as an on-chain holding company focused on digital assets is reflected in its balance sheet, with digital assets comprising $119.24 million of its $127.51 million in total assets. Stockholders' equity saw a substantial increase to $127.24 million, and the company completed a 1-for-5 reverse stock split and a significant private placement.

NovaBay Pharmaceuticals, Inc. appointed Henry Blynn as its Chief Operating Officer, effective July 15, 2026. Mr. Blynn will receive an annual salary of $300,000 and is eligible for an annual cash bonus targeting 50% of his base salary. He was also granted 1,400,000 time-based Restricted Stock Units (RSUs) which will vest in three equal installments over three years. The employment agreement includes severance provisions, which increase to 12 months of salary and benefits if termination occurs within 12 months of a change in control.

NovaBay Pharmaceuticals, Inc. amended its October 2025 pre-funded warrants with R01 Fund LP and Framework Ventures IV L.P. to remove certain exercisability restrictions. Following the amendment, both R01 and Framework fully exercised their respective warrants on a cashless basis. This transaction resulted in the issuance of an aggregate of 22,614,600 shares of NovaBay's common stock, bringing the total issued and outstanding shares to 50,449,780 as of June 15, 2026.

Stablecoin Development Corporation reported strong first-quarter 2026 financial results, achieving operating income of $22.3 million, a significant turnaround from an operating loss in the prior year. The company posted GAAP net income of $552.4 million, which included a substantial non-cash gain of approximately $535.0 million from warrant-related effects. Additionally, Stablecoin Development Corporation increased its SKY token holdings to approximately 2.26 billion by May 14, 2026, and generated $2.5 million in staking revenue during the quarter.

Stablecoin Development Corporation (formerly NovaBay Pharmaceuticals) reported a significant financial turnaround for Q1 2026, with net income from continuing operations soaring to $552.4 million from a $3.3 million loss in Q1 2025. The company's stockholders' equity dramatically shifted from a $631.8 million deficit to a positive $138.8 million. This performance follows its strategic repositioning as an on-chain holding company focused on digital assets, including a $134.0 million private placement in January 2026. The company's name change and new ticker "SDEV" became effective in April 2026, reflecting its new focus on the Sky Protocol ecosystem.

NovaBay Pharmaceuticals, Inc. (NBY), now Stablecoin Development Corporation, filed an amended 10-K to restate its audited consolidated financial statements for the year ended December 31, 2025. The restatement was due to an error in accounting for October 2025 Pre-Funded Warrants, resulting in a $608.6 million increase in warrant liability and related non-cash losses. The company also identified a material weakness in its internal control over financial reporting. Additionally, the company completed a 1-for-5 reverse stock split and legally changed its name, shifting its strategic focus to digital asset ecosystems, including significant post-year-end investments in SKY tokens.

NovaBay Pharmaceuticals, Inc. announced that its audited consolidated financial statements for the year ended December 31, 2025, should no longer be relied upon due to an accounting error related to pre-funded warrants. This error will increase the warrant liability from $30.4 million to $639.1 million and the net loss from $22.1 million to $630.8 million for 2025. The company plans to restate these financials in a Form 10-K/A, noting these are non-cash adjustments.

Stablecoin Development Corporation (SDEV) announced its holdings of approximately 2.15 billion SKY tokens as of March 31, 2026, along with accumulated staking rewards. This update on the company's SKY-related on-chain activities and token holdings provides investors with insight into the company's involvement in the cryptocurrency space.