Why Is Sonoma Pharmaceuticals (SNOA) Stock Up 30% Today?
Sonoma Pharmaceuticals (NASDAQ:SNOA) stock is getting a boost on Tuesday after the company revealed positive news from the U.S. Environmental Protection Agency (EPA).
The big news sending SNOA stock higher today is the EPA approving Nanocyn. This is the pharmaceutical company’s hospital-grade disinfectant. It is designed to treat hard surfaces, which makes it ideal for use in “hospitals, schools, mass transit, and care facilities.”
Sonoma Pharmaceuticals manufactures Nanocyn and it’s made with patented technology from MicroSafe. The two worked together to have the product approved by the EPA following its success in other countries.
According to Sonoma Pharmaceuticals, Nanocyn sports a 30-second kill time that will see it removing bacteria from non-porous hard surfaces. It’s also worth noting that the Australian Register of Therapeutic Goods recognized it for use against Covid-19 in 2020.
Amy Trombly, CEO of Sonoma Pharmaceuticals, said this about the Nanocyn news today.
‘We are excited to bring our successful partnership with MicroSafe Group to the United States. We believe Nanocyn hospital-grade disinfectant has countless applications due to its efficacy and safety profile, and we are eager to play a role to help curb the spread of infectious disease here in the United States and globally.”
SNOA stock is experiencing heavy trading alongside today’s news. As of this writing, more than 50 million shares of the stock have been traded. That’s well above its daily average trading volume of around 143,000 shares.
SNOA stock is up 27.8% as of Tuesday afternoon.
Investors on the lookout for more stock market news will want to stick around!
InvestorPlace has all the latest stock news that traders need to know about for Tuesday. Among that is what’s happening with shares of IonQ (NYSE:IONQ) stock, Chegg (NYSE:CHGG) stock, and Harbor Custom Development (NASDAQ:HCDI) stock today. You can learn all about these topics by checking out the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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