Sonoma Pharmaceuticals (NASDAQ:SNOA) is in the news Friday after approval for a disinfectant of the novel coronavirus sent SNOA stock skyrocketing.
The approval is for MicroSafe Care Australia’s Nanocyn Disinfectant & Sanitizer. This sanitizer is manufactured by Sonoma Pharmaceuticals and the approval allows it to be listed in the Australian Register of Therapeutic Goods (ARTG).
So what exactly does this mean for Sonoma Pharmaceuticals? That approval allows the company to start advertising the disinfectant as able of killing the coronavirus. This includes advertising on the label of the product. The company states that its kill time on hard surfaces is 30 seconds.
Amy Trombly, CEO of Sonoma Pharmaceuticals, said this about the news.
“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.”
Sonoma Pharmaceuticals holds the exclusive rights to the Nanocyn Disinfectant & Sanitizer in Australia. It also holds the same rights in Europe and the Middle East. However, the product is sold in these countries under the name MicroSafe, instead of Nanocyn.
SNOA stock was up 116.6% as of Friday afternoon and is up 18.9% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.