Sonoma Pharmaceuticals (SNOA) Stock Rockets On COVID-19 News

Sonoma Pharmaceuticals SNOA Stock News

Sonoma Pharmaceuticals Inc (NASDAQ: SNOA) is rocketing in the market this morning, trading on gains of more than 150% in the premarket. The gains come after the company announced that Australia has validated the company’s work in partnership with MicroSafe surrounding a disinfectant product designed to fight COVID-19.

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SNOA Stock Is Rocketing On COVID-19 Disinfectant News

As mentioned above, Sonoma Pharmaceuticals is having an incredible start to the trading session in the premarket hours after receiving a COVID-19 related nod from Australia. According to the press release, the company announced that it and its partner the MicroSafe Group, Dubai, have achieved a breakthrough in the fight against the COVID-19 pandemic.

The breakthrough… MicroSafe Care Australia has recieved approval for their patented and trademarked Nanocyn Disinfectant & Sanitizer. The prodcut, manufactured by Sonoma, will be part of the Australian Register of Therapeutic Goods (ARTG) for use against SARS-CoV-2, also known as COVID-19.

In the release, SNOA said that claims that a disinfectant has a virucidal effect must be expressly permitted by the Australian Therapeutic Goods Administration before being used in consumer advertising in Australia.

Importantly, SNOA recently closed an Asset PUrchase Agreement with MicroSafe. Under the terms of the agreement, the company will purchase exclusive rights of the Microcyn technology-based disinfectant for sale in the Australian market under the name Nanocyn. Moreover, the company acquired the rights for marketing in European and Middle Eastern markets under the brand name MicroSafe.

In a statement, Mrs. Safa Qadumi, Founder and CEO of the MicroSafe Group Dubai, had the following to offer:

We have been fighting global pandemics for nearly 20 years with our safe and non-toxic Microcyn® based disinfectant and we are very pleased with the test results and subsequent approval of the SARS-CoV-2 (COVID-19) label claim for our Nanocyn® disinfectant in Australia. The label claim comes with a 30 second virucidal kill time on hard surfaces, a landmark kill time for a non-toxic disinfectant.

The above statement was followed up by Amy Trombly, CEO at SNOA. Here’s what she had to offer:

We have known for years that our Microcyn® Technology is effective against a number of pathogens, including viruses, so we are pleased to get this acknowledgement from the ARTG that our technology is effective in killing COVID-19. As the pandemic has spread around the world, we are excited to work with partners like MicroSafe Group to provide a safer environment for people during this difficult time. As an international company selling products in 53 countries around the world, we are continuously seeking additional partners to expand our domestic and global reach in distributing our products.

This Is Big News

The news from Sonoma Pharmaceuticals is overwhelmingly positive. First and foremost, while the world is working to recover and the United States is slowly reopening the economy, the COVID-19 pandemic is still taking place.

People are still getting sick and there is a concern that we will see a resurgence of the disease. As such, consumers around the globe are taking advantage of disinfectant products like never before. This is where SNOA comes in.

With the rights to sell the product in Australia and Europe exclusively, the company is likely to see a strong increase in revenue. This is especially the case when you consider that Australia has given the nod, saying that the disinfectant is effective against COVID-19.

As such, SNOA stock should be on your watchlist.

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