Sonoma Pharmaceuticals Inc (NASDAQ: SNOA)
Sonoma Pharmaceuticals was off to a relatively normal start to the trading session today. However, minutes ago, that all changed as a 510(k) clearance from the FDA hit center stage, causing the stock to spike dramatically and prompting our partners at Trade Ideas to alert us of the movement. At the moment (10:21), SNOA is trading at $7.24 per share after a gain of $0.15 per share or 2.12% thus far today, but is likely to fly far higher.
Why SNOA Is Climbing
As mentioned above, minutes ago, the FDA awarded Sonoma Pharmaceuticals a 510(k) clearance. The clearance was given for the company’s skin descaling product known as Loyon. As of yet, we have not received any comment from the company itself. However, you can see on the FDA website that SNOA has indeed been granted the 510(k).
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SNOA. In particular, we’re interested in learning about the company’s next steps following the 510(k) approval news. Nonetheless, we’ll continue to follow the story incredibly closely and bring you the news as it breaks!
What Do You Think?
Where do you think SNOA is headed moving forward? Join the discussion in the comments below!
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