EPA Clears SteraMist for Cannabis and Food Safety, Opening New Markets
TOMZ sits 29% above its 52-week low of $1.39 on light trading volume (0.1× avg).
Summary
TOMI Environmental Solutions received EPA registration for SteraMist – AgriMist, expanding its labeled use to post-harvest food safety and cannabis/hemp cultivation. The approval allows application up to the day of harvest with no residue or rinsing, a key advantage for growers. This opens a new revenue stream in the fast-growing controlled environment agriculture market, including greenhouses and hydroponics. The news follows a 1-for-3 reverse split in July and a pending reverse merger with Carbonium Core, adding a growth catalyst to a company that reported $2.3M in preliminary Q2 revenue. The multi-year registration process culminates in a product that addresses pathogen control in high-value crops, potentially accelerating adoption and revenue.
At the time of this announcement, TOMZ was trading at $1.79 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $13M. The 52-week trading range was $1.39 to $3.60. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.