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Tag: Sonoma Pharmaceuticals Inc.

  • Sonoma Pharmaceuticals Inc. (SNOA) stock Bullish on News of Partner Network Expansion

    On January 20, Sonoma Pharmaceuticals Inc. (SNOA) announced its partner network expansion for oral and dental products in the U.S. and China. Following the announcement, the stock became bullish in the after-hours session.

    The stock was gloomy in regular trading as it lost 2.30% at its closing price of $4.25 on Thursday. Consequent to the news, SNOA reversed to add 8.00% in the after-hours. Hence, it was trading a $4.59 per share at an after-hours volume of 259.52K shares.

    Sonoma Pharmaceuticals Inc. has a market capitalization of $13.47 million. Currently, the company has 3.1 million shares outstanding in the market.

    SNOA’s Partner Network Expansion

    Firstly, the company has expanded its U.S. dental care partner network by adding Salus Medical as a distribution partner. Furthermore, the company has entered into a non-exclusive agreement with Salus Medical for the distribution of Endocyn® root canal irrigant. Additionally, with SNOA’s Microcyn® RX and Regenacyn® Plus products, Salus Medical would widen its dermatology offerings. Salus Medical will have non-exclusive rights for the distribution of Microcyn® products.

    Salus Medical is a Phoenix, Arizona-based national wholesale distributor.

    Secondly, the company has also entered into a partnership deal with Anlicare International. Thus, Expanding its oral and dental care line to China. On January 18, SNOA and Anlicare agreed for working on the completion of required regulatory work for obtaining Microcyn®-based products distribution licenses in China. As per the agreement, Anlicare will be responsible for the regulatory costs. In return, the company will grant exclusive distribution rights to Anlicare for oral and dental care products in China.

    Anlicare International brings and commercializes innovative medical devices and consumables to the Chinese market.

    Recent Participation

    Recently, the company participated in the H.C. Wainwright BioConnect Virtual Healthcare Conference. The conference took place from January 10 to January 13, 2022. SMOA’s CEO, Amy Trombly, and CFO, Jerry Dvonch presented an overview of the company’s business at the conference.

    SMOA’s Q2 FY2022 Financials

    On November 15, the company announced its financial results for the second quarter of fiscal 2022, which ended on September 30, 2021.

    In the second fiscal quarter of 2022, the revenues were $3,744,000 against $5,769,000 in the year-ago quarter. Hence, showing a decrease of 35% year over year.

    Moreover, SMOA suffered a net loss of $95,000 from continuing operations in Q2 of fiscal 2022. Comparatively, the company had a net income of $151,000 in the same period last year.

  • 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.