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 Corp. (NYSE American: ZOM) announced its participation in the Lytham Partners Investor Select Conference scheduled for January 31, 2023. The company's webcast presentation will be accessible from 9:00 AM ET on that date through a provided link, and will later be available on their official website. In addition to the webcast, Zomedica's management will hold virtual one-on-one meetings during the event. Stakeholders can arrange these meetings by contacting Lytham Partners directly. Zomedica is focused on veterinary health, developing innovative diagnostics and medical devices for companion animals.
Zomedica Corp. (NYSE American: ZOM) announced a strategic restructuring of its partnership with Qorvo Biotechnologies to take control over the development and manufacturing of its TRUFORMA product line. This change is projected to accelerate the rollout of new diagnostic assays while reducing costs. The restructuring allows Zomedica to eliminate new customer acquisition expenses as it expands its installed base of TRUFORMA instruments. The agreements include licensing payments and technology transfer assistance, enabling Zomedica to directly manage the manufacturing process within 18 months. Zomedica aims to enhance veterinary diagnostics with its innovative technology.
Zomedica Corp. (NYSE American: ZOM) has partnered with Structured Monitoring Products, Inc. to launch the VetGuardian zero-touch vital signs remote monitoring system for veterinary professionals. This innovative system allows for contact-free, continuous monitoring of pets' vital signs, including temperature, pulse, and respiration, enhancing patient care while minimizing stress. It features patented technology that enables real-time data capture without the need for harnesses. Zomedica aims to market VetGuardian to veterinarians, diversifying their product range and addressing staffing challenges in veterinary clinics, especially in post-surgical and ICU monitoring.
Zomedica Corp. (NYSE American: ZOM) announced that CEO Larry Heaton will present at the Sidoti January Virtual Investor Conference on January 18-19, 2023. The presentation will be accessible live at 1:00 ET on January 18. Investors can also register for one-on-one meetings during the conference. Zomedica focuses on veterinary health products for companion animals, aiming to meet the clinical needs of veterinarians while improving animal care. Registration for the event is free and not limited to Sidoti clients.
Zomedica Corp (NYSE American: ZOM) announced a CEO interview with the Wall Street Analyzer, discussing recent Q3 financial results, a new manufacturing facility in Georgia, and M&A activities. CEO Larry Heaton emphasized Zomedica's role in enhancing veterinary care while boosting profitability for practices. The Company aims to innovate diagnostic and therapeutic products, leveraging internal capabilities and industry trends to deliver long-term growth. The full interview is available online for further insights.
Zomedica Corp. (NYSE American: ZOM) reported significant revenue growth for Q3 2022, achieving $4.78 million, marking a 23,800% increase from Q3 2021. Key highlights include a 75% gross margin and strategic acquisitions enhancing their product portfolio. Notably, diagnostic revenue from TRUFORMA surged by 350%. The company's cash reserves stood at $158.49 million. However, net losses decreased by 21% year-over-year. Zomedica aims for continued organic growth following recent acquisitions and product launches.
Zomedica Corp. (NYSE American: ZOM) has announced that CEO Larry Heaton will present a company overview and growth prospects at the LD Micro Main Event XV Conference on October 25, 2022, in Bel Air, California. The presentation starts at 10 AM PDT/1 PM EDT and will be accessible via a live webcast at me22.mysequire.com. Zomedica creates veterinary products for companion animals, aiming to enhance clinical productivity and revenue while improving animal care. Additional information will be available on Zomedica's investor site after the conference.
Zomedica Corp. (NYSE American: ZOM) will be represented by CEO Larry Heaton at the Dawson James Securities Small Cap Growth Conference on October 12, 2022, in Jupiter, Florida. Heaton will discuss the company's growth prospects and overview. Investors can access the live webcast on Zomedica's official website or via a dedicated link. The archived presentation will also be available post-conference. Zomedica specializes in veterinary health products focused on clinical veterinarians' needs, aiming to enhance veterinary practices and animal health.
Zomedica Corp. (NYSE American: ZOM) has launched its Free T4 (fT4) assay for the TRUFORMA In-Clinic Biosensor Testing Platform. This proprietary assay provides veterinarians with a crucial point-of-care diagnostic tool for accurately diagnosing thyroid dysfunction in dogs. Previously, reliable fT4 results were limited to reference laboratories. The TRUFORMA platform now allows for timely results and better patient management, enhancing both patient and practice health. The fT4 assay is available for shipping as of September 12, 2022.
Zomedica Corp. (NYSE American: ZOM) announced a strategic update to be presented by CEO Larry Heaton at the H.C. Wainwright Global Investment Conference on September 13, 2022, at 3:00 pm ET. The discussion will cover recent acquisitions and company insights, and the presentation will be available via webcast. Zomedica focuses on veterinary health, providing innovative diagnostics and therapeutic products for companion animals. For more details, visit their website.
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