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Sonoma Pharma (SNOA) Stock Price Rallied 36% After Australia’s TGA Approved Nanocyn’s Extended Uses

Updated: 15 Oct 2021

Sonoma Pharmaceuticals Inc (NASDAQ: SNOA) stock price rallied 36% premarket after the Australian Therapeutic Goods Administration (TGA) approved extended claims for its Nanocyn® Disinfectant and Sanitizer. 

Nanocyn®  has been approved as a hard-surface disinfectant with a 15 second kill time against common viruses, such as SARS-CoV-2, influenza, and Norovirus (Gastro). 

The disinfectant also has a 30 second kill time against common bacteria such as E. coli, Staphylococcus aureus (MRSA), fungi and mould – including Candida Albicans and Pseudomonas aeruginosa. 

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Sonoma manufactures Nanocyn® Disinfectant and Sanitizer on behalf of its partner, the MicroSafe Group. The TGA originally approved it for use against SARS-CoV-2 (COVID 19) in mid-2020.

Investors cheered the extended uses approved by the TGA today, as evidenced by Sonoma Pharma’s rally higher during premarket trading.

Nanocyn® is the only hospital-grade disinfectant registered by the TGA and certified by Good Environmental Choice Australia (GECA). In addition, the disinfectant is also certified by leading aviation manufacturing companies.  

Safa Qadumi, MicroSafe Group’s CEO, said: “Nanocyn® is a game-changer for any hospital, aged care or health care facility, transportation-provider, business, school, tourism or hospitality venue wanting to ensure their premises are COVID-safe, not just from a pandemic point of view, but also the comfort that comes with using a non-toxic disinfectant that does not leave any harmful residues behind.”

Bruce Thornton, Sonoma Pharma’s COO, stated: “We could not be more excited about making our safe and effective Microcyn® Technology available to valued partners such as MicroSafe. We are continuously seeking to add to our network of international distributors to increase the reach of Sonoma products worldwide.” 

Sonoma shares rallied above the crucial $6.76 resistance level, and it will be interesting to see if the shares shall hold above this level till the end of the trading session. 

*This is not investment advice. 

Sonoma Pharma stock price.

Tradingview chart of Sonoma stock price 15-10-2021

Sonoma stock price rallied 36.03% premarket to trade at $8.08, rising from Thursday’s closing price of $5.94.

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