Oculus Innovative Sciences Announces Corporate Name Change to Sonoma Pharmaceuticals, Inc. and New NASDAQ Ticker Symbol to Be...
December 05 2016 - 5:05AM
Oculus Innovative Sciences, Inc. (NASDAQ: OCLS, warrants OCLSW), a
specialty pharmaceutical company that develops and markets
solutions for the treatment of dermatological conditions and
advanced tissue care, today announced that on December 6, 2016, it
will officially change the name of the company to Sonoma
Pharmaceuticals, Inc. In conjunction with the name change, the
company’s ticker symbol listed on the NASDAQ will change from OCLS
to SNOA (warrants SNOAW), effective December 6, 2016. The company’s
new web site will be www.sonomapharma.com.
“We are pleased to align our corporate name and identity with
our strategic initiative as a specialty pharmaceutical company
focused on the high-margin U.S. dermatology market,” said Jim
Schutz, CEO of Sonoma Pharmaceuticals. “In addition to our name
change, seminal to this transition was the October sale of our
Latin American assets, which generated nearly $20 million in cash,
enabling us to expand our marketing and sales efforts with no
dilution to our shareholders in this highly profitable dermatology
niche. As a result, we believe this will generate more rapid sales
growth, thus accelerating our shift towards overall breakeven and
profitability.”
Oculus initiated a strategic turnaround plan in April 2014, at
which time the company installed a new board of directors, a new
CEO and a seasoned dermatology sales team. This new team
collectively identified U.S. dermatology as its core market, with
hospital sales, animal health and international markets being
deemed non-core in nature. The company’s current product portfolio
consists primarily of dermatology and advanced tissue care products
based upon the company’s two proprietary and patented technologies,
Microcyn® and Lipogrid®.
Microcyn is a small-molecule oxychlorine compound with
antimicrobial and anti-inflammatory properties that, in clinical
settings, shows improvement in the reduction of itch and pain
associated with dermal irritations and wounds, such as sores,
injuries and ulcers of dermal tissue. Lipogrid Technology contains
selected lipids and a lipid precursor designed to penetrate the
bilayers of the skin by blending with the natural lipid building
blocks. The choice of and share of lipids resemble the lipid
organization of a human membrane and blend in with the natural
lipid building blocks of the lipid bilayer and also penetrate
beyond the outer layer of the skin, where they contribute to the
synthesis of ceramides, cholesterol and free fatty acids.
About Sonoma Pharmaceuticals, Inc.Sonoma
Pharmaceuticals is a specialty pharmaceutical company that develops
and markets unique and effective solutions for the treatment
of dermatological conditions and advanced tissue care. The
company’s products, which are sold throughout the United
States and internationally, have improved outcomes for more than
five million patients globally by reducing infections, itch,
pain, scarring and harmful inflammatory responses. The company's
headquarters are in Petaluma, California, with manufacturing
operations in the United States and Latin America. European
marketing and sales are headquartered in Roermond,
Netherlands. More information can be found at
www.sonomapharma.com.
Forward-Looking StatementsExcept 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 “will pay,”
“expected” and “delivered,” 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 common stock and warrants may be
delisted from NASDAQ, the Company’s products will not be
able to penetrate one or more targeted markets, revenues will
not be sufficient to fund further development and clinical studies,
the Company may not meet its future capital needs, the Company
may not be able to obtain additional funding, as well as
uncertainties relative to 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 including its annual report on Form 10-K for
the fiscal year ended March 31, 2016. The Company disclaims
any obligation to update these forward-looking statements, except
as required by law.
Sonoma Pharmaceuticals®, Microcyn® Technology and Lipogrid®
Technology 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.
Dan McFadden
VP of Public and Investor Relations
(425) 753-2105
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