Street Calls of the Week
BOULDER, Colo. - Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA), a small-cap healthcare company with a market capitalization of $7.23 million, has registered its manufacturing facility and listed its Microcyn-based facial spray under the FDA’s Modernization of Cosmetics Regulation Act of 2022 (MoCRA), the company announced Tuesday.
The registration allows Sonoma to manufacture and commercialize its Microcyn technology products as cosmetics in the United States, expanding beyond its existing FDA medical device establishment registration. This move gives the company increased access to the U.S. cosmetics and dermatology consumer markets, which industry reports project will reach nearly $40 billion by 2030. According to InvestingPro data, Sonoma has demonstrated strong momentum with a 130% price return over the past six months, while maintaining healthy liquidity with a current ratio of 2.7.
"Sonoma’s robust regulatory expertise allows us to bring safe, effective products to market across multiple healthcare categories," said Amy Trombly, CEO of Sonoma. "This new MoCRA registration positions us to increase our reach in the fast-growing U.S. cosmetics and dermatology markets with Microcyn-based products." The company’s revenue growth of 17.43% in the last twelve months suggests momentum in its market expansion strategy. InvestingPro subscribers can access 10+ additional insights about Sonoma’s growth potential and financial health.
Sonoma’s patented stabilized hypochlorous acid (HOCl) technology is used in products for wound care, dermatology, eye care, podiatry, and animal health. The company currently sells its products in over 55 countries worldwide through direct sales and distribution partners.
The company’s manufacturing operations are located in Guadalajara, Mexico, with its principal office in Boulder, Colorado, and European marketing and sales headquartered in Roermond, Netherlands.
The information in this article is based on a company press release statement.
In other recent news, Sonoma Pharmaceuticals has entered into an At Market Issuance Sales Agreement with Ladenburg Thalmann & Co. Inc. This agreement allows Sonoma to offer and sell shares of its common stock, with a total aggregate offering price of up to $2.07 million. Ladenburg will act as an agent and receive a commission of 3% on the gross proceeds from each sale. Additionally, Sonoma Pharmaceuticals held its annual stockholders’ meeting, where shareholders approved the election of Dr. Jay Birnbaum as a Class II director. In a significant product development, Sonoma Pharmaceuticals launched its hypochlorous acid-based diaper rash product in 3,600 Walmart stores, on Amazon.com, and in several large grocery chains across the United States. This product launch is being managed through Sonoma’s U.S.-based partner. These recent developments highlight the company’s ongoing efforts to expand its market presence and product offerings.
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