PETALUMA, Calif., Dec. 05, 2016 (GLOBE NEWSWIRE) -- 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 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 “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.