Zomedica Corp. - ZOM STOCK NEWS

Zomedica Corp. (NYSE American:ZOM) provided a shareholder update from CEO Larry Heaton, outlining company progress and strategies. The focus is on the commercialization of the TRUFORMA product line, launched in May, alongside the acquisition of Pulse Veterinary Technologies for $71.9 million. Despite delays in new assay development due to COVID-19 and supply chain issues, Zomedica expects to commercialize new assays for adrenal and thyroid diseases in 2022. The company reported a strong balance sheet with $271 million in cash post-acquisition, aiming for further product expansion through strategic acquisitions.

Zomedica Corp. (NYSE American: ZOM) announced that CEO Larry Heaton will present a company overview at the virtual H.C. Wainwright BioConnect 2022 Conference from January 10-13, 2022. The presentation will be available on-demand starting January 10 at 7:00 am ET for registered attendees and the public at this link, and on Zomedica's website thereafter. The company focuses on providing innovative diagnostic and therapeutic products for companion animals, aiming to enhance the productivity and revenue for veterinary practices.

Zomedica Corp. (NYSE American: ZOM) reported financial results for Q3 and YTD 2021, highlighting a net loss of approximately $6.3 million or $0.01 per share for Q3, and $15.1 million or $0.05 per share for nine months. Revenue from TRUFORMA® products was $22,514 for Q3 and $52,331 YTD. Selling and administrative expenses surged to $6.1 million in Q3, a 166% increase, driven by share-based compensation and acquisition costs. Zomedica ended September 2021 with approximately $271.4 million in cash, post-PulseVet acquisition, positioning for growth in 2022.

Zomedica Corp. (NYSE American: ZOM) announced the appointment of Larry Heaton as President and future CEO, effective October 1, 2021. Heaton, with over 35 years of experience in medical device and biotechnology sectors, succeeds Robert Cohen, who will retire on October 31, 2021, but remain on the Board. Heaton expressed optimism about Zomedica's growth opportunities, particularly with its TRUFORMA® diagnostic platform and the recent acquisition of PulseVet.

Zomedica Corp. (NYSE American: ZOM) announced the acquisition of Pulse Veterinary Technologies for $70.9 million in an all-cash transaction. PulseVet is a leader in electro-hydraulic shock wave technology used for treating various veterinary conditions. This acquisition aims to expand Zomedica's product offerings and enhance sales capabilities, particularly for PulseVet’s new X-Trode handpiece, which enhances treatment for companion animals. Zomedica’s CEO highlighted the strategic importance of this acquisition in accelerating overall growth.

Zomedica Corp. (NYSE American: ZOM) appointed Sean Whelan to its Board of Directors, filling the vacancy left by Christopher Wolfenberg's resignation. CEO Robert Cohen expressed enthusiasm for Whelan's extensive financial expertise and his anticipated role as Chairman of the Audit Committee. Whelan, who has a strong background in finance from companies like Encore Rehabilitation Services and Diplomat, Inc., noted his excitement for Zomedica’s future products. The company focuses on veterinary health diagnostics and aims to enhance productivity and revenue for veterinarians.

Zomedica Corp. (NYSE American: ZOM) has launched its TRUFORMA® Instrument Placement Program to drive future assay sales, securing 41 agreements and installing 25 instruments since July 13, 2021. For Q2 2021, the company reported a net loss of approximately $4.7 million and revenue of $15,693 from TRUFORMA® sales. Notably, market acceptance has faced challenges due to delays in assay development, with fT4 and ACTH assays expected for sale in Fall 2021. Cash reserves stood at $276.2 million as of June 30, 2021, reflecting significant growth in equity.

Zomedica Corp. (NYSE American: ZOM) held its 2021 Annual Virtual-Only Meeting on July 30, 2021, where shareholders approved key corporate governance items. The meeting resulted in the election of new directors including Jeffrey Rowe and Robert Cohen, as well as the appointment of Grant Thornton LLP as the company's auditors. The board is authorized to determine their remuneration. The company focuses on providing innovative diagnostics and medical devices for companion animals, aiming to enhance veterinary practice efficiency.

Zomedica Corp. (NYSE: ZOM) provided an update focused on its point-of-care diagnostic instrument, TRUFORMA^®. The company has made three initial assays available and anticipates two additional assays, fT4 and ACTH, to be launched by late 2021. To facilitate adoption, Zomedica is expanding its sales force to 15 representatives and continues to enhance its operational capabilities. As of July 6, all employees have returned to on-site work. Zomedica also reported having over $250 million in cash reserves and plans to enter select international markets in 2022.