Shares of Sonoma Pharmaceuticals (SNOA) has skyrocketed an astounding 100% in intraday trading, this surge comes in part by an announced partnership with Crown Labratories.
Sonoma Pharmaceuticals is a global healthcare leader developing and producing high performance stabilized hypochlorous acid (HOCI) products for wide applications that include wound care, eye care, oral care, nasal care and dermatological conditions.
With Crown Laboratories being a fully integrated global skin care company, both companies has announce an agreement for exclusive rights to sell products in the over-the-counter (OTC) dermatological market in the United States.
In this agreement, Crown plans to sell Sonoma’s Microcyn technology dermal sprays and gels targeting itch and pain under Sarna. Sarna is the #1 dermatologist recommended anti-itch brand with a unique variety of formulations to quickly relieve itch and skin irritations.
Sonoma’s HOCI line of products are clinically proven to manage and relieve the burning, itching and pain experienced with various types of dermatoses, including radiation dermatitis and atopic dermatitis.
This agreement will let Sonoma continue selling it’s prescription strength products while Crown will distribute the OTC version available without prescription.
Here’s what the executives have to say about this exclusive agreement:
Having access to Sonoma’s Microcyn® technology provides us with the first in class hypochlorous acid-based products in the OTC dermatology market. We believe that integrating these new products into our portfolio of strong brands will provide greater patient access and help improve patient outcomes,
Jeff Bedard, Crown’s CEO
Crown is committed to providing safe and effective solutions that relieve discomfort associated with compromised skin, managing pruritus (itch) is essential as it is a major symptom associated with many skin ailments. We are thrilled to offer a clinically proven, steroid-free line of HOCl-products within the Sarna franchise as this represents a major advancement in combating itch within the OTC market.
Steve Gallopo, Crown’s Vice President, US/Global OTC Marketing
We are excited to partner with Crown Laboratories, which shares our passion of providing patients with access to highly effective health care products. In addition, Crown has extensive experience selling in OTC markets and this partnership will expand our OTC offerings to consumers across the United States and into online retail markets,
Amy Trombly, Sonoma’s CEO
Bottom Line: Is Sonoma Pharmaceuticals (SNOA) a good investment?
SNOA stock is a very risky investment, however, if this agreement goes towards commercial, Sonoma may get into profitability much faster. Right now, the company is not making so much money and isn’t profitable yet which investors think a dilution event may occur. I see this as a risky long term play.
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