Welcome to our dedicated page for Sohm news (Ticker: SHMN), a resource for investors and traders seeking the latest updates and insights on Sohm stock.
SOHM Inc. (SHMN) regularly issues news updates that highlight its activities as a pharmaceutical and biotechnology company specializing in generic drugs, gene-editing tools, health and wellness solutions, and biotechnology-driven cosmeceuticals. Many of its announcements focus on progress in gene editing technologies, particularly its proprietary ABBIE genome-engineering platform, as well as corporate developments and strategic initiatives.
Readers of this news feed can expect coverage of gene editing platform milestones, such as technical advances in ABBIE, including Cas9-guided integrase work and later developments using a dCas12a domain to modify cultured human cells. The company has reported the creation of specialized cellular tools, including an ovarian cancer cell line with GYS1 overexpression for drug discovery applications, and it uses news releases to describe the scientific and research implications of these efforts.
SOHM’s news also includes intellectual property and regulatory developments, such as the allowance of a divisional patent in South Korea for Cas9 retroviral integrase and recombinase systems, and commentary on evolving regulatory frameworks for genome-editing technologies. Corporate and strategic updates appear as well, including facility relocation to a commercialization site in Vista, California, leadership and board appointments, and stated goals to enter biotechnology-driven cosmeceuticals.
In addition, the company reports on enhancements to its digital presence, including a redesigned corporate website and plans for an e-commerce platform to support cosmeceuticals, nutraceuticals, and over-the-counter products. For investors, researchers, and industry observers, this news page offers a centralized view of SOHM’s public communications on its gene editing work, broader product directions, governance changes, and operational expansion.
SOHM, Inc. (OTC PINK: SHMN) has completed its due diligence for the acquisition of a Southern California pharmaceutical company. CEO Baron Night announced that the final acquisition agreement is expected to be signed by the end of the current quarter. This acquisition will enable SOHM to manufacture its products in-house in the U.S., enhancing profitability and expanding contract manufacturing opportunities. The move aligns with SOHM's growth strategy and aims to boost revenue and operational stability.
SOHM, Inc. (OTC PINK:SHMN) announced on August 4, 2021, that it has received a mandate for the development and manufacturing of two new human prescription topical products. The first product aims to treat hyperpigmentation, while the second is a combination medication for minor pain and discomfort related to hemorrhoids. SOHM anticipates that these products will be available in major pharmacy chains such as CVS and Wal-Mart by late Q3 or early Q4 2021. CEO Baron Night highlighted that this mandate represents an annualized commitment once the products are on the market.
SOHM, Inc. (OTC PINK:SHMN) announced a semi-annual order for prescription skincare topical products worth approximately $500,000. This order, placed by a private label customer, will be distributed to major pharmacy chains including Publix, CVS, and Wal-Mart. The initial mandate included seven SKUs but has evolved into the current order. The CEO expressed optimism about achieving positive revenue in 2021 and potentially exceeding the previous year's figures.
SOHM, Inc. (OTC PINK:SHMN) reported a robust Q1 2021, with a 163% year-over-year revenue growth to $32,235 and a gross profit margin increase to 71%. Profitability improved by 38.85%, totaling $7,413. The company anticipates continued growth in Q2 and into the second half of the year, bolstered by new product mandates and potential acquisitions. Management has paused its share buyback to focus on these acquisitions. SOHM is also expanding into the personal care market and expects tripled revenue without acquisitions, with further increases anticipated with them.
SOHM, Inc. (OTC PINK:SHMN) is advancing its growth strategy by focusing on converting prescription products to over-the-counter (OTC) markets. The company plans to capitalize on the trend where over 80% of American consumers prefer private label products for cost efficiency. This shift is expected to foster strategic partnerships with major retail channels, enhancing profitability. SOHM anticipates finalizing a significant acquisition by mid-2021, aligning with its strategic goals. The company aims to expand its footprint in various healthcare segments while enhancing brand integrity.
SOHM, Inc. (OTC PINK:SHMN) has signed a Letter of Intent to acquire a leading Southern California based pharmaceutical company, aiming to establish a stronger manufacturing base within the USA. This strategic move is expected to enhance SOHM's market presence in the generic prescription and OTC segments. The target company, active for over 20 years, offers more than 300 formulations across various categories. The acquisition, subject to due diligence and financing arrangements, aims to increase SOHM's profitability and innovation across its segments.