Why Sonoma Pharmaceuticals, Inc. (SNOA) Jumped 100% Today?

Sonoma Pharmaceuticals, Inc. (SNOA) is up over 100% today after the company announced a deal with skin care company Crown Laboratories for a license and supply agreement for the exclusive rights to sell and market products for the over-the-counter (OTC) dermatological market in the United States. Crown will sell Sonoma’s Microcyn technology dermal sprays and gels.

In November, Sonoma reported a 22% increase in its revenue for the second quarter of fiscal 2021. Operating expenses declined by 33% on a year-over-year basis. In September, the company’s stock jumped after it launched a nasal care and oral care products in Australia.