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 (NYSE American:ZOM) has entered into a license and supply agreement with Cresilon Inc. for the Vetigel® hemostatic gel product line. The agreement grants Zomedica exclusive marketing and sales rights in the United States and non-exclusive rights internationally.
Vetigel is a plant-based formula designed to rapidly stop bleeding when applied directly to wounds. The product has been clinically validated for multiple applications, including surgical procedures, dental applications, emergency care, and liver biopsies. Key advantages include its ability to stop bleeding in seconds without becoming part of the clot.
Under the agreement, Zomedica will manage U.S. customer supply and collaborate with Cresilon for international customer support. The company plans to leverage its existing field sales team, trade show programs, and continuing education initiatives to expand Vetigel's market presence.
Zomedica (NYSE American:ZOM) has launched two new canine assays for its TRUFORMA In-Clinic Biosensor Testing Platform. The first is a canine NT-proBNP test for detecting cardiac conditions, which helps distinguish cardiac from respiratory disease and identifies dogs at risk of congestive heart failure. The second is a progesterone test for determining optimal breeding dates and detecting reproductive disorders.
These additions bring the total to 8 new assays launched in the past 18 months. Both tests deliver quantitative results in under 20 minutes with reference lab accuracy. The NT-proBNP test is particularly significant as 1 in 10 dogs experience heart disease, while the progesterone assay addresses a high demand market with 4 million puppies born annually in the US. Zomedica offers these diagnostics without requiring capital outlay or monthly minimums from veterinary practices.
Zomedica Corp. (NYSE American:ZOM) has appointed Scott A. Jordan as Executive Vice President, Finance and Chief Financial Officer, effective January 1, 2025. Jordan brings over 30 years of experience in life sciences and diagnostics industries. He was previously CEO and Founder of S. Jordan Associates, a Chicago-based boutique investment bank, and CFO of Inomagen Therapeutics. His experience includes roles as Chief Business Officer/CFO at Iterion Therapeutics and Salarius Pharmaceuticals, where he helped achieve NASDAQ listing. Jordan holds a BA in Marketing from Michigan State University and an MBA in Finance from DePaul University. He succeeds Peter Donato, who departed in August 2024.
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 its participation in the NobleCon20 Conference. CEO Larry Heaton will present and conduct one-on-one investor meetings at Florida Atlantic University's Executive Education Complex in Boca Raton on December 4, 2025, at 11:00 am EST.
A high-definition video webcast of the presentation will be available the following day on Zomedica's website, Noble Capital Markets' Conference website, and Channelchek portal. The webcast recording will remain accessible for 90 days on all platforms.
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.
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