Sonoma Pharmaceuticals, Inc. (NASDAQ: SNOA) is a global healthcare company that is focused on the research, development and production of stabilized hypochlorous acid (HOCl) products for use in wound care, eye care, nasal care, oral care and more. Shares of the healthcare company are surging 55% through afternoon trading on Wednesday, January 25, 2023. Over the past three months, Sonoma Pharmaceuticals has seen average daily volume of 762,870 shares. However, volume of 88.82 million shares or dollar volume of around $166.09 million, has already exchanged hands through afternoon trading.
Shares of Sonoma Pharmaceuticals are rallying after the company announced that Microcyn Rx products have received a Distribution and Pricing Agreement (DAPA) registration from the U.S. Defense Logistics Agency (DLA). DAPA # SP0200-22-H-0034 will allow for Sonoma Pharmaceuticals’ Microcyn Rx products for use in wound care, skin care, eye care and more.
The DAPA registration allows Sonoma’s partner, EMC Pharma, to execute distribution agreements for the products with federal customers. EMC Pharma has a long-standing relationship with the U.S. government. In fact, approximately half of the partner company’s customers are U.S. government entities like the VA, Department of Defense, Federal Bureau of Prisons and more.
“We are proud to work with partners like EMC who have built a substantial business selling into the numerous departments of the U.S. government, and we are excited to introduce the efficacy and safety of our Microcyn technology products to these federal customers,” said Amy Trombly, CEO of Sonoma. She continued, “sales to the U.S government through EMC Pharma represent a new distribution channel for Sonoma increasing the range of customers and regions we sell to.”
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