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Hello, I'm Dr Gary. I've been practicing veterinary medicine since 2007. I look forward to helping with your questions/ concerns.
What you're seeing is the kwik. That's the nail bed where the nerves and blood vessels lie. We can see this when the nail is diseased and falls off or, more commonly, when a dog gets the nail caught on something and traumatically rips the nail partway off.
The nail that was injured will eventually fall off. The new nail will grow behind it over the next month or two. If multiple nails fall off, then I start to worry about an auto-immune disease like Lupus. It doesn't sound like that is the case here.
I hope this helps, let me know if you have any other questions.
I would try to keep him from licking at it for at least 7-10 days. You can use a daily bandage or an e-collar/ cone collar to prevent him from licking.
Topically, I don't usually do much. If there is bleeding, I'll use Kwik stop and a bandage for 24-48 hours. Then I leave it open to heal on it's own.
No problem, happy to help.