Zomedica Corp Stock Price, News & Analysis

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.

Zomedica Corp. (NYSE American:ZOM) announced that its Assisi Loop® product line continues to be designated as a Fear Free Preferred Product. Fear Free, a global initiative focused on reducing fear, anxiety, and stress in pets, has reaffirmed its validation of Assisi's targeted pulsed electromagnetic field (tPEMF) technology. This technology is designed to reduce inflammation and pain, accelerate healing, and alleviate canine separation anxiety.

The Assisi Loop® products, including the Assisi Loop Lounge®, are effective for various inflammatory conditions, such as post-surgical recovery, osteoarthritis, internal inflammation, wound care, spinal and nerve disorders, and bone, joint, and soft tissue injuries. The Calmer Canine Anxiety Treatment System® specifically targets the amygdala to reduce canine anxiety.

This continued designation aligns with the increasing demand for non-invasive veterinary care and supports Zomedica's mission to improve the overall quality of life for pets and their owners.

Zomedica Corp. (NYSE American:ZOM) has introduced advanced audio capabilities for its VETGuardian Zero-touch remote vital signs monitoring system. The new features include real-time audio streaming, recorded playback functionality, and customizable alerts. These enhancements aim to revolutionize remote patient monitoring in veterinary medicine by providing veterinarians with more comprehensive insights into animal health.

The VETGuardian system is now the only product on the market offering contactless vital sign monitoring combined with live video and audio feed. This unique combination allows for detailed remote assessments of animals, enabling early detection of distress signs, evaluation of treatment responses, and more precise care delivery. The audio recording feature also supports improved documentation and medical record-keeping, facilitating better-informed decision-making in veterinary care.

Zomedica Corp. (NYSE American:ZOM) has announced its sponsorship of educational programs at the upcoming Fetch dvm360 Veterinary Conference in Kansas City, MO, from August 23-25, 2024. The company will showcase its TRUFORMA® Bulk Acoustic Wave diagnostic platform, PulseVet® shock wave platform, and VETGuardian® zero-touch remote monitor at Booth #409. Zomedica is sponsoring presentations by leading veterinary experts, including topics on periodontal therapy, dermatology, orthopedic injuries, postoperative care, and gastrointestinal diagnostics. This partnership with Fetch dvm360 aims to further the advancement of veterinary practice and patient care through education and innovative solutions.

Zomedica Corp. (NYSE American:ZOM) reported Q2 2024 financial results with revenue of $6.1 million, up 2% year-over-year. The company achieved a 71% gross margin and maintained $83.0 million in liquidity. Diagnostic revenues increased by 68% year-over-year, while therapeutic device segment revenue slightly decreased by 1%. Consumable revenues grew 8% to $4.4 million, representing 72% of total sales. The company reported a net loss of $23.9 million, or $0.024 per share, which included $16.0 million in non-cash charges for goodwill impairments. Zomedica's CEO, Larry Heaton, expressed satisfaction with the progress, noting it as the highest second quarter for the company to date, despite disappointing sales of new PulseVet systems.

Zomedica Corp. (NYSE American:ZOM) has announced a strategic partnership with SIRE Veterinario, S.A. to expand its sales reach into Costa Rica. SIRE Veterinario will be the exclusive distributor of Zomedica products to veterinarians in the country. This move aligns with Zomedica's strategic vision to establish a global footprint for its product lines.

The partnership aims to bring Zomedica's products to approximately 3,000 veterinarians in Costa Rica, enhancing pet care in the region. This expansion into Central America is part of Zomedica's broader strategy to grow in Central and South American markets. The collaboration is expected to enable better medicine and care for pet patients while furthering Zomedica's international reach.

Zomedica Corp. (NYSE American:ZOM), a veterinary health company specializing in point-of-care diagnostic and therapeutic products for equine and companion animals, has announced its upcoming second quarter 2024 financial results conference call. The event is scheduled for Wednesday, August 14, 2024, at 4:30 p.m. ET. During the call, management will discuss the company's operational and financial highlights for the quarter ended June 30, 2024, followed by a question-and-answer session.

Interested parties can join the live call via phone or webcast. For those unable to attend, a dial-in replay will be available until August 28, 2024. This announcement demonstrates Zomedica's commitment to transparency and shareholder communication, providing investors with an opportunity to gain insights into the company's recent performance and future outlook.