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Tag: NASDAQ: SNOA

  • Sonoma Pharmaceuticals Inc. (SNOA) stock rises during pre-market trading. Here’s to know why?

    Sonoma Pharmaceuticals Inc. (SNOA) stock surged by 8.47% at the last trading close whereas the SNOA rises by 26.78% in the pre-market trading after it announced their agreement with EMC Pharma, LLC. Sonoma Pharmaceuticals is a worldwide healthcare pioneer in the development and production of stabilized hypochlorous acid (HOCl) products for wound treatment, animal health, eye care, nasal care, oral care, disinfectant use, and dermatological conditions.

    What is happening?

    Sonoma announced that it has entered into a definitive agreement with EMC Pharma, LLC for the exclusive right to manage, market, and distribute Sonoma’s HOCl-based prescription dermatology and eye care products in the United States for a five-year period, with an option to extend. EMC Pharma will also have a non-exclusive contract with the government to manage, supply, and distribute such Microcyn-based wound care products. EMC Pharma is a national healthcare products and services firm that operates in FDA-approved prescription medication creation, pharmaceutical distribution, and effective pharmacy services.

    EMC will purchase all of the current inventory and pay a royalty and transfer rates for the first five years as part of the collaboration deal. To keep the distribution rights reserved, the parties agreed on certain minimum purchase conditions. The CEO of SNOA said that, through this agreement with EMC we are intending to increase our distributor network in order to enhance their approach for patients and consumers on national level and for this purpose EMC is the most appropriate platform due to its wide distribution network and experience in this business.

    Furthermore,

    Sonoma’s direct sale model was not really working in favor of SNOA therefore following this new agreement SNOA has reduced its sales force, working for the direct sale model in USA. The management of SNOA hopes that partnering with EMC would enable the company to cut costs while working with EMC to develop a profitable distribution model for its prescription drugs.

    Hence, this recent development in SNOA has caught the attention of investors which resulted in the rise of SNOA stock price. But the investors are still expected to be more careful before they make bet for a long-term.

  • Sonoma Pharmaceuticals, Inc. (Nasdaq: SNOA) shares taking aerial root after this announcement

    Sonoma Pharmaceuticals, Inc. (Nasdaq: SNOA) shares taking aerial root after this announcement

    Sonoma Pharmaceuticals, Inc. (Nasdaq: SNOA) shares hiked 32.30%  to reach $8.11 in the pre-market session after the announcement that they have reached a license and supply agreement for exclusive rights to market and sell products in the United States for over-the-counter (OTC) dermatological products.

    Crown plans to sell Sonoma’s Microcyn technology dermal sprays and gels targeting itch and pain under Sarna, the #1 Dermatologist Recommended Anti-Itch Brand, with a unique variety of formulations to quickly relieve itch and skin irritations.

    The HOCl line of products from Sonoma is clinically proven to reduce burning, itching, and pain in patients suffering from different kinds of dermatoses, including radiation dermatitis and atopic dermatitis. Sonoma will continue to sell prescription drugs, while Crown will offer over-the-counter products.

  • Top Stocks As Federal Reserve Restores Market Confidence

    Top Stocks As Federal Reserve Restores Market Confidence

    The equity markets have regained upside momentum this afternoon. This follows the Fed’s decision to keep supporting the markets.  A statement from the FOMC said that the direction the economy takes will depend heavily on the coronavirus and that the virus will significantly affect employment numbers and inflation. The Fed then added that it was ready to use a wide array of tools to support the economy.

    The Federal Reserve further stated that it would increase its levels of treasury securities, and both commercial and residential mortgage-backed securities at current prices.  The news has seen the major stock indices rally with the NASDAQ now up by 1.50%. Individual stocks are also on the rise. The most visible stock gainer today is Kodak, which is up by 500%, dwarfing the stellar day that it had in yesterday’s trading session. Besides Kodak, other stocks that have recorded significant gains this afternoon are as below:

    Tupperware Brands Corporation [NYSE:TUP]

    This is one of the biggest gainers in the day and is up by 62% this afternoon.  The rally follows the company’s strong Q2 results that have beat analyst expectations. The company announced that its diluted EPS was 60% higher than the amount that it reported in 2019.

    The company also announced that in the quarter, its cash flow from its operations was higher by $71 million compared to Q2 of 2019. Nonetheless, the company reported that due to the COVID-19 pandemic, sales declined by 16% compared to the previous quarter.  CEO Sandra Harris noted that the increase in profitability was due to the company’s commitment to improve its profit margins and strengthen the balance sheet.

    Sonoma Pharmaceuticals Inc [NASDAQ:SNOA]

    Sonoma Pharmaceuticals Inc is another top performer this afternoon and is up by 52%. These gains come just a day after the company announced that Microsafe® disinfectant had passed the compatibility test for Boeing and Airbus commercial planes. The company’s CEO Amy Trombly stated that they were happy with the tests and that they expanded the company’s potential sales in the airline market, due to the COVID-19 pandemic. She added that the company was continually looking to grow its market reach across the globe.

    Big 5 Sporting Goods Corporation [NASDAQ:BGFV]

    This is another top gainer this afternoon and is up by 49%.  Its gains come after it reported impressive Q2 results. The company announced that its net income for Q2 stood at $11.1 million and that it was reinstating dividends. It further announced that store sales shot up by 31% and that it now had a cash position of around $38 million.