Sonoma Pharmaceuticals Regains Compliance with Nasdaq Minimum Bid Price Rule
Sonoma Pharmaceuticals (NASDAQ:SNOA) has successfully regained compliance with Nasdaq's minimum bid price rule, avoiding potential delisting. The company, known for its patented Microcyn technology based on stabilized hypochlorous acid (HOCl), implemented a 1-for-20 reverse stock split on August 30, 2024. This action was taken in response to a non-compliance notice received on September 22, 2023, when SNOA's stock price fell below the required $1.00 per share minimum.
Following the reverse split, Sonoma's stock price maintained the required minimum for 10 consecutive business days, satisfying Nasdaq's compliance criteria. The company received formal confirmation from Nasdaq that it has regained compliance, and the matter is now closed. This development ensures Sonoma's continued listing on the Nasdaq Capital Market, maintaining its visibility and access to capital markets.
Sonoma Pharmaceuticals (NASDAQ:SNOA) ha ristabilito con successo la conformità alla regola del prezzo minimo d'offerta del Nasdaq, evitando così potenziali delistings. L'azienda, conosciuta per la sua tecnologia brevettata Microcyn basata su acido ipocloroso stabilizzato (HOCl), ha attuato uno split azionario inverso 1-per-20 il 30 agosto 2024. Questa azione è stata intrapresa in risposta a una notifica di non conformità ricevuta il 22 settembre 2023, quando il prezzo delle azioni di SNOA è sceso al di sotto del requisito minimo di $1.00 per azione.
Dopo lo split inverso, il prezzo delle azioni di Sonoma ha mantenuto il minimo richiesto per 10 giorni lavorativi consecutivi, soddisfacendo così i criteri di conformità del Nasdaq. L'azienda ha ricevuto conferma formale dal Nasdaq di aver riconquistato la conformità e la questione è ora chiusa. Questo sviluppo garantisce la continua quotazione di Sonoma sul Nasdaq Capital Market, mantenendo la sua visibilità e accesso ai mercati dei capitali.
Sonoma Pharmaceuticals (NASDAQ:SNOA) ha recuperado con éxito el cumplimiento de la regla del precio mínimo de Nasdaq, evitando una posible deslistación. La empresa, conocida por su tecnología patentada Microcyn basada en ácido hipocloroso estabilizado (HOCl), implementó un split de acciones inverso de 1 por 20 el 30 de agosto de 2024. Esta acción se tomó en respuesta a un aviso de no cumplimiento recibido el 22 de septiembre de 2023, cuando el precio de las acciones de SNOA cayó por debajo del mínimo requerido de $1.00 por acción.
Tras el split inverso, el precio de las acciones de Sonoma mantuvo el mínimo requerido durante 10 días hábiles consecutivos, satisfaciendo los criterios de cumplimiento de Nasdaq. La empresa recibió confirmación formal de Nasdaq de que ha recuperado el cumplimiento, y el asunto ahora está cerrado. Este desarrollo asegura la continua cotización de Sonoma en el Nasdaq Capital Market, manteniendo su visibilidad y acceso a los mercados de capitales.
소노마 제약(Sonoma Pharmaceuticals) (NASDAQ:SNOA)은 나스닥의 최소 매수 가격 규정을 성공적으로 준수함으로써 잠재적인 상장 폐지를 피했습니다. 이 회사는 안정화된 하이포클로러스 산(HOCl)을 기반으로 한 특허 기술인 마이크로신(Microcyn)으로 알려져 있으며, 2024년 8월 30일 1대 20 주식 분할을 시행했습니다. 이 조치는 2023년 9월 22일 SNOA의 주가가 요구되는 주당 최소 $1.00 이하로 떨어졌을 때 받은 비준수 통지에 대한 반응으로 이루어졌습니다.
주식 분할 이후, 소노마의 주가는 10거래일 연속으로 요구되는 최소 가격을 유지하여 나스닥의 준수 기준을 충족했습니다. 이 회사는 나스닥으로부터 준수를 회복했다는 공식 확인을 받았으며, 이 문제는 이제 종료되었습니다. 이 발전은 소노마가 나스닥 자본 시장(Nasdaq Capital Market)에 계속 상장될 수 있도록 보장하여 자본 시장에 대한 가시성과 접근성을 유지합니다.
Sonoma Pharmaceuticals (NASDAQ:SNOA) a réussi à retrouver la conformité avec la règle du prix d'offre minimum de Nasdaq, évitant ainsi un éventuel retrait de la cote. L'entreprise, connue pour sa technologie brevetée Microcyn basée sur de l'acide hypochlore stabilisé (HOCl), a mis en œuvre un scission inverse d'actions 1 pour 20 le 30 août 2024. Cette action a été prise en réponse à un avis de non-conformité reçu le 22 septembre 2023, lorsque le prix de l'action SNOA est tombé en dessous du minimum requis de 1,00 $ par action.
Suite à la scission inverse, le prix de l'action de Sonoma a maintenu le minimum requis pendant 10 jours ouvrables consécutifs, satisfaisant ainsi les critères de conformité de Nasdaq. L'entreprise a reçu une confirmation officielle de Nasdaq indiquant qu'elle a retrouvé la conformité, et l'affaire est désormais close. Cette évolution garantit la poursuite de l'inscription de Sonoma sur le Nasdaq Capital Market, préservant ainsi sa visibilité et son accès aux marchés des capitaux.
Sonoma Pharmaceuticals (NASDAQ:SNOA) hat erfolgreich die Compliance mit der Mindestkursregel von Nasdaq wiederhergestellt und damit eine mögliche Delistung vermieden. Das Unternehmen, bekannt für seine patentierte Microcyn-Technologie auf Basis von stabilisiertem Hypochlorit (HOCl), führte am 30. August 2024 einen 1-zu-20 Reverse-Split durch. Diese Maßnahme wurde als Reaktion auf eine Mitteilung über Non-Compliance am 22. September 2023 ergriffen, als der Aktienkurs von SNOA unter den geforderten Mindestpreis von 1,00 $ pro Aktie fiel.
Nach dem Reverse-Split hielt der Aktienkurs von Sonoma die erforderliche Mindesthöhe für 10 aufeinanderfolgende Geschäftstage, was die Compliance-Kriterien von Nasdaq erfüllte. Das Unternehmen erhielt eine offizielle Bestätigung von Nasdaq, dass es die Compliance wiederhergestellt hat, und die Angelegenheit ist nun abgeschlossen. Diese Entwicklung sichert die fortlaufende Notierung von Sonoma an der Nasdaq Capital Market und erhält die Sichtbarkeit sowie den Zugang zu den Kapitalmärkten.
- Regained compliance with Nasdaq's minimum bid price rule
- Avoided potential delisting from Nasdaq Capital Market
- Successfully implemented 1-for-20 reverse stock split to boost share price
- Required a reverse stock split to meet compliance, potentially indicating underlying financial challenges
- Reverse split may have reduced the total number of outstanding shares, potentially affecting liquidity
Insights
Sonoma Pharmaceuticals' compliance with Nasdaq's minimum bid price rule is a positive development for the company's financial stability and investor confidence. The successful implementation of a 1-for-20 reverse stock split effectively boosted the share price above the
Regaining Nasdaq compliance is a short-term positive for Sonoma Pharmaceuticals, potentially improving market perception and liquidity. However, the need for a significant 1-for-20 reverse split suggests underlying weakness in investor demand. Key factors to watch include:
- Post-split trading volume and price stability
- Upcoming financial results and revenue growth trends
- Progress in commercializing Microcyn® technology across various applications
BOULDER, CO / ACCESSWIRE / September 19, 2024 / Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA), a global healthcare leader developing and producing patented Microcyn® technology based stabilized hypochlorous acid (HOCl) products for a wide range of applications, including wound care, eye, oral and nasal care, dermatological conditions, podiatry, and animal health care, today announced that it received a formal determination letter from Nasdaq notifying Sonoma that it has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market and the matter is now closed.
As previously reported, On September 22, 2023, Sonoma received a letter from Nasdaq indicating that it did not comply with the
About Sonoma Pharmaceuticals, Inc.
Sonoma Pharmaceuticals is a global healthcare leader for developing and producing stabilized hypochlorous acid (HOCl) products for a wide range of applications, including wound, eye, oral and nasal care, dermatological conditions, podiatry, animal health care and non-toxic disinfectants. Sonoma's products are clinically proven to reduce itch, pain, scarring, and irritation safely and without damaging healthy tissue. In-vitro and clinical studies of HOCl show it to safely manage skin abrasions, lacerations, minor irritations, cuts, and intact skin. Sonoma's products are sold either directly or via partners in 55 countries worldwide and the company actively seeks new distribution partners. The company's principal office is in Boulder, Colorado, with manufacturing operations in Guadalajara, Mexico. European marketing and sales are headquartered in Roermond, Netherlands. More information can be found at www.sonomapharma.com. For partnership opportunities, please contact busdev@sonomapharma.com.
Forward-Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about the commercial and technology progress and future financial performance of Sonoma Pharmaceuticals, Inc. and its subsidiaries (the "company"). These forward-looking statements are identified by the use of words such as "continue," "develop," "anticipate," "expect" and "expand," among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the company's business that could cause actual results to vary, including such risks that regulatory clinical and guideline developments may change, scientific data may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, protection offered by the company's patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the company's products will not be as large as expected, the company's products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to meet the company's cash needs, fund further development, as well as uncertainties relative to the COVID-19 pandemic and economic development, varying product formulations and a multitude of diverse regulatory and marketing requirements in different countries and municipalities, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. The company disclaims any obligation to update these forward-looking statements, except as required by law.
Sonoma Pharmaceuticals™ and Microcyn® are trademarks or registered trademarks of Sonoma Pharmaceuticals, Inc. All other trademarks and service marks are the property of their respective owners.
Media and Investor Contact:
Sonoma Pharmaceuticals, Inc.
ir@sonomapharma.com
Website: www.sonomapharma.com
Follow us on LinkedIn: https://www.linkedin.com/company/sonoma-pharmaceuticals
Follow us on Instagram: https://www.instagram.com/sonomapharma_us/
Follow us on Facebook: https://www.facebook.com/sonomapharma/
SOURCE: Sonoma Pharmaceuticals, Inc.
View the original press release on accesswire.com
FAQ
When did Sonoma Pharmaceuticals (SNOA) regain compliance with Nasdaq's minimum bid price rule?
What action did Sonoma Pharmaceuticals (SNOA) take to regain Nasdaq compliance?
How long did Sonoma Pharmaceuticals (SNOA) have to regain compliance with Nasdaq's listing rule?
What is the main product technology of Sonoma Pharmaceuticals (SNOA)?
