Sonoma Pharmaceuticals (SNOA) surged a staggering 216% after the approval of their COVID-19 disinfectant when an Australian regulator gave the green light for the wound-care-product company to label its disinfectant and sanitizer Nanocyn as effective against COVID-19.
After a decision of the Australian Register of Therapeutic Goods, Sonoma shares were traded at last check in the amount of $14.77. On Friday, they traded more than $19. Thursday’s Sonoma shares closed at $5.41.
As a result of the Australian regulator ‘s decision, which permits the pharmaceutical company to claim on Nanocyn label that it killed the deadly virus in hard surfaces in 30 seconds, the volume of Sonoma shares traded also increased exponentially.
Sonoma’s share trading volume rose to more than 5.5 million shares, well above the 65-day average of 33,000 shares.
Sonoma specializes in the use of hypochloric acid products for wound and eye care and for the treatment of dermatological conditions.
Sonoma said that its partner, MicroSafe Group of Dubai, had received permission from ARTG to label Covid-19.
The judgment is assessed on the basis of Sonoma agreement made to purchase a patented “technology-based disinfectant” from Microcyn, marketed in Australia under the brand name Nanocyn.
“We have been fighting global pandemics for almost 20 years … and we are very pleased with the test results and the subsequent approval of the SARS-CoV-2 (Covid-19) label claim,” said Safa Qadumi, founder and chief executive officer of the MicroSafe Group, in a statement.
“The label claim comes with a 30-second virucidal killing time on hard surfaces, a landmark killing time for a non-toxic disinfectant,” Qadumi said.
Sonoma Pharmaceutical (SNOA) Expanded Distribution Agreement with Brill International
“Our powerful Microcyn® technology has many applications treating a wide range of symptoms and conditions. We are excited to take our partnership with Brill to the next level and increase our eye care presence in Europe.”
Amy Trombly, CEO of Sonoma Pharmaceuticals
The formulation, marketed in the United States as AcuicynTM Antimicrobial Eyelid and Eyelash Hygiene solutions, is a safe and effective method for keeping areas around the eye and eyelid / eyelash clean and removing foreign materials. Sonoma ‘s performance-stabilized hypochloric acid (HOCl), which is at the heart of Acuicyn and Microdacyn60 ® Eye Care, can be used safely around the eyes , ears , nose and mouth with no concern for toxicity or stinging.
Sonoma is also pleased to announce that it has agreed to a new 10-year license, distribution and supply agreement with its distribution partner Brill International S.L. Marketing of eye care products under the OcudoxTM private label on the European markets of Italy, Germany , Spain, Portugal and the United Kingdom, subject to compliance by Brill with certain minimum annual purchase requirements. Previously, Sonoma’s highly successful partnership with Brill covered only the Spanish and Portuguese markets.
Conclusion: is Sonoma Pharmaceuticals (SNOA) a profitable investment?
Shares of Sonoma Pharmaceuticals (SNOA) overall, appear to be a solid investment option, with Wall Street analysts expecting its price to rise considerably in the next 12 months. This company generates high value from the labor resources and other capital it has available, the majority of the metrics point to this investment being highly attractive.
