Sonoma Pharmaceuticals, Inc. (Nasdaq: SNOA), a multinational healthcare giant, has released financial results for its second fiscal quarter and six months ended September 30, 2020, manufacturing and supplying stabilized hypochlorous acid (HOCl) drugs for a wide variety of uses, including wound treatment, eye care, nasal care, oral care, and dermatological disorders. It also announced that, because of factual irregularities, it had to restate its first-quarter financial statements for the quarter ended June 30, 2020. The key highlights for the 6 months, ended September 30, 2020
Sonoma recently completed the transition from Petaluma, CA to Woodstock, GA during the second fiscal year All manufacturing is now achieved at the state-of-the-art Sonoma plant in Zapopan, Mexico. As a result of this reorganization, Sonoma plans to see a continuous decrease in both overhead and the cost of products sold.
Joint research was conducted in the Journal of Hospital Infection by the University of Hong Kong and Queen Mary Hospital using Dermodacyn Disinfecting solution, a medical-grade solution manufactured by Sonoma and marketed in Hong Kong by Sonoma partner Microderm Technologies Limited. The study found that Dermodacyn Disinfecting solution significantly decreased the viability of SARS-CoV-2 against other laboratory and domestic disinfectants that are widely used.
As the company works with its multinational network of retail partners to increase the number of goods and markets where such products are sold, Sonoma’s international market has continued to demonstrate strength. Sonoma, for instance, partnered with its affiliate Te Arai BioFarma to launch two new nasal and oral care brands in Australia and New Zealand, as previously announced on September 9, 2020.
With an average rise in sales and a decline in operational expenses, Sonoma’s operating efficiency tends to grow quarter after quarter. Although the COVID-19 pandemic has created a daunting global climate, the versatility of Sonoma’s product lines and global markets served has not only proved to separate Sonoma from geographical downturns, but in some countries, the company’s anti-viral and anti-bacterial drugs have seen elevated demand.