Welcome to our dedicated page for Zomedica news (Ticker: ZOM), a resource for investors and traders seeking the latest updates and insights on Zomedica stock.
Zomedica Corp. (NYSE American: ZOM) is a veterinary health company based in Ann Arbor, Michigan, focused on creating innovative products for companion animals, including dogs, cats, and horses. The company addresses the unmet needs of clinical veterinarians through its diverse product portfolio that includes diagnostic and therapeutic devices aimed at enhancing both patient and practice health.
Core Business:
Zomedica specializes in the development and commercialization of veterinary diagnostic tools and pharmaceutical products. Their flagship product, the TRUFORMA® platform, uses Bulk Acoustic Wave (BAW) technology to offer highly sensitive and accurate point-of-care diagnostics for thyroid and adrenal disorders in dogs and cats. The TRUFORMA system empowers veterinarians to make timely and precise diagnostic decisions directly within their clinics, eliminating the delays associated with sending samples to external laboratories.
Recent Achievements:
Recently, Zomedica has expanded its intellectual property portfolio to include 188 patents and 131 trademarks, offering robust protection for its innovative products. This portfolio includes newly issued patents that enhance the TRUFORMA system's capability to detect a wider array of health conditions.
Current Projects:
The company is working on expanding its product range and market reach. The recent CE certification for the VetGuardian® remote contactless monitoring system paves the way for Zomedica's expansion into the European veterinary market. Additionally, the company has launched an improved canine cortisol assay and Over-the-Air (OTA) software update capabilities for the TRUFORMA platform, making it easier for veterinarians to access the latest diagnostic tools and features.
Financial Condition:
For the first quarter of 2024, Zomedica reported a 14% increase in revenue to $6.3 million, driven by growth in both its diagnostic and therapeutic segments. The company's gross margin stood at 66%, and it holds $90.9 million in cash and available-for-sale securities as of March 31, 2024.
Market Position:
With an estimated total addressable market of $2.5 billion annually for its diagnostic and therapeutic products, Zomedica is well-positioned to capture significant market share. The company's potential customer base includes approximately 4,450 equine or mixed veterinary practices and 30,000 small animal veterinary practices in the United States alone.
Partnerships and Collaborations:
Zomedica collaborates with veterinary researchers to advance animal healthcare through continuous innovation. The company's recent expansion of its global manufacturing and distribution facilities in Roswell, Georgia, aims to support the growing demand for its products.
For more information, visit www.zomedica.com
Zomedica has launched a new equine insulin assay for its TRUFORMA In-Clinic Biosensor Testing Platform. The assay provides quantitative insulin level detection in equine plasma with results in just 18 minutes, enabling quick diagnosis and monitoring of insulin dysregulation in horses. This third equine-focused assay complements Zomedica's existing eACTH test, helping veterinarians diagnose conditions like Equine Metabolic Syndrome (EMS) and Pituitary Pars Intermedia Dysfunction (PPID), which affect 18-27% of ponies and horses. The point-of-care solution eliminates reference laboratory wait times and requires no capital outlay or monthly minimums from veterinary practices.
Zomedica Corp. (NYSE American:ZOM), a veterinary health company specializing in point-of-care diagnostics and therapeutic products for equine and companion animals, has announced the initiation of company-sponsored equity research coverage by Noble Capital Markets. The research coverage will be conducted by Analyst Robert LeBoyer, with the full report and market data available on Channelchek.
Zomedica (NYSE American:ZOM), a veterinary health company specializing in point-of-care diagnostics and therapeutic products for equine and companion animals, has announced its participation in the upcoming Sidoti Micro Cap Conference on November 13-14, 2024. Larry Heaton, CEO, will deliver a presentation on November 14 at 11:30 ET and conduct one-on-one meetings with investors. The presentation will be accessible via webcast, with free registration available through Sidoti's website. A replay will be available on Zomedica's investor relations website.
Zomedica (NYSE:ZOM) reported Q3 2024 financial results with revenue growing 10% to $7.0 million, maintaining a strong gross margin of 72.3%. The Diagnostics segment grew 38%, while the Therapeutic Device segment increased 9%. Consumable revenues rose 6% to $4.8 million, and capital revenues increased 21% to $2.2 million. The company ended the quarter with $77.8 million in cash and equivalents. Operating expenses increased 21% to $12.5 million, resulting in a net loss of $6.7 million. The company received CE Mark approval for TRUVIEW and expanded international distribution agreements across Europe, Middle East, and Latin America.
Zomedica (NYSE American:ZOM) has launched the Ear Cytology Quick Scan protocol for its TRUVIEW digital microscope and telepathology platform. This new feature, available with the TRUprep automated slide preparation system, reduces ear cytology diagnostic time to just over four minutes, significantly improving veterinary practice workflow. The innovation addresses a growing market, with the Companion Animal Ear Infection Treatment Market projected to reach $1.2 billion by 2032 from $648 million in 2023. The protocol targets otitis, which affects 15-20% of dogs and 4-7% of cats, enabling faster diagnosis of yeast, bacteria, and inflammation.
Zomedica (NYSE American:ZOM), a veterinary health company specializing in point-of-care diagnostic and therapeutic products for equine and companion animals, has scheduled its Q3 2024 earnings conference call for November 7, 2024, at 4:30 p.m. ET. The call will cover operational and financial highlights for the quarter ended September 30, 2024, followed by a Q&A session. Participants can join via phone (+1-800-717-1738 U.S. Toll-Free or +1-646-307-1865 International) or webcast. A replay will be available until November 21, 2024.
Zomedica Corp. (NYSE American:ZOM) has announced its sponsorship of educational programs at the upcoming Fetch Coastal conference in Atlantic City, NJ from October 14-16, 2024. The company will showcase its innovative veterinary products, including the TRUFORMA® diagnostic platform, TRUVIEW™ digital microscope, PulseVet® shock wave platform, and VETGuardian® remote monitor.
Zomedica is sponsoring presentations by leading veterinary experts, including:
- Dr. Shadi J. Ireifej on Brachycephalic Airway Syndrome
- Dr. Adam Christman on pain management modalities
- Steve Dale on separation distress in pets
Zomedica Corp. (NYSE American:ZOM) has expanded its distribution partnership with Grovet in Europe for its equine PulseVet® and TRUFORMA product platforms. The updated agreement grants Grovet exclusive distribution rights in 27 European countries and non-exclusive rights in Italy and the UK. This expansion includes the introduction of the TRUFORMA equine platform to the European market, alongside existing equine assays for eACTH and Cortisol, with equine Insulin launching later this year.
Kevin Klass, Zomedica's Senior VP of Sales, expressed satisfaction with the expanded partnership, highlighting Grovet's success in distributing PulseVet products. Koen Schmitz, Managing Director of Grovet, emphasized the scientific basis of Zomedica's products. The TRUFORMA platform offers equine veterinarians the ability to diagnose and monitor conditions like PPID (Cushing's disease) with reference lab accuracy and point-of-care convenience.
Zomedica Corp. (NYSE American:ZOM) has completed renovations at its 30,000-square-foot facility in Plymouth, Minnesota. The upgrades include an expanded cleanroom for manufacturing operations, installation of a new automated line for TRUFORMA® cartridge production, and improved distribution facilities for more efficient shipping. The new automated cartridge line can produce up to one million cartridges annually, significantly increasing manufacturing capacity to meet growing demand.
The TRUFORMA diagnostic platform uses Qorvo Inc.'s Bulk Acoustic Wave (BAW) sensor technology, offering veterinarians precise diagnostic measurements for thyroid and adrenal conditions, canine non-infectious gastrointestinal disease, and equine Cushing's disease. This renovation strengthens Zomedica's ability to meet customer demand while developing its expanding assay portfolio.
Zomedica Corp. (NYSE American:ZOM) has secured CE Mark approval for its TRUVIEW™ digital microscopy and telepathology platform, enabling commercialization across the European Economic Area. The TRUVIEW system integrates advanced diagnostic features, including LiquiView™ liquid lens technology and TRUprep™ automated slide preparation, enhancing diagnostic accuracy and efficiency in veterinary care.
The platform optimizes workflow by providing high-quality slide preparation and enabling real-time remote consultation. This CE Mark certification affirms the system's compliance with EU health, safety, and environmental standards, marking a significant milestone for Zomedica's expansion into the European market.
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