Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA), a Delaware-incorporated pharmaceutical company, announced an amendment to its equity distribution agreement with Maxim Group LLC, enabling the continued sale of its common stock. This development, detailed in a recent SEC Form 8-K filing, follows the original agreement dated December 15, 2023, and the amendment, known as Amendment No. 1, dated March 8, 2024.
The sales of shares will be conducted under a previously declared effective registration statement, along with a prospectus supplement filed today. The registration statement on Form S-3 (File No. 333-275311) was initially declared effective by the U.S. Securities and Exchange Commission (SEC) on November 20, 2023.
Sonoma Pharmaceuticals, previously known as Oculus Innovative Sciences, Inc., specializes in pharmaceutical preparations and operates under the organization name 03 Life Sciences. The company's business address is located in Boulder, Colorado.
The amendment allows for the offering and sale of Sonoma's common stock from time to time through Maxim, acting as a sales agent or principal. The specifics of the agreement and the amendment are referenced in the exhibits of the company's Form 8-K filings from December 18, 2023, and March 8, 2024, respectively.
In conjunction with the amendment, Polsinelli PC has provided a legal opinion on the validity of the shares to be issued, which is included as Exhibit 5.1 in the filing.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any shares under the amended agreement, nor will any sale of such shares occur in states where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state.
The information contained in this article is based on a press release statement.
In other recent news, Sonoma Pharmaceuticals has made significant strides in product expansion and research. The company has introduced its MicrocynAH® animal health line to Menards® home improvement stores across the U.S, increasing the accessibility of their products for pet owners. This line includes treatments like Wound & Skin Care Spray, Eye & Ear Wash, and Anti-Itch Gel Spray, all formulated with Sonoma's patented hypochlorous acid (HOCl) technology.
Simultaneously, Sonoma Pharmaceuticals has expanded its Microcyn® Negative-Pressure Wound Therapy (NPWT) Solution in the U.S. market. The product is now available in new sizes of 250mL, 450mL, and 990mL to cater to the varying needs of health professionals and patients.
In research developments, a recent study published in the journal Neurourology and Urodynamics has highlighted the potential of Sonoma's product, Microdox®, in treating urinary tract infections (UTIs) in children, particularly those with bladder dysfunction. The study suggests that Microdox could be beneficial for children who require clean intermittent catheterization.
These recent developments underscore Sonoma Pharmaceuticals' commitment to innovation in healthcare, expanding its product range, and exploring new therapeutic applications for its patented technology. Investors should note that these announcements are based on press release statements and should consider the stated risks involved.
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