Our daily ratings and market update email newsletter. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. If you are eyeing this penny stock, prudence would dictate waiting for some confirmation that Truforma is delivering as advertised. I would like to express my deepest gratitude to the many people at Zomedica who dedicated the past two years of their lives to achieving this critical milestone, commented Robert Cohen, Zomedicas Chief Executive Officer. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The immediate future of Zomedica hinges heavily on a single about-to-launch product Truforma. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These symbols will be available throughout the site during your session. The combined dynamic range of the canine and feline TRUFORMA TSH assay is 0.008-10.0 ng/mL compared to the Siemens IMMULITE Canine TSH assay dynamic range of 0.03-12 ng/mL. This is a momentous day for Zomedica, our shareholders, the veterinarians we serve, and the companion animals in their care. These verification studies evaluate two adrenal assays: canine cortisol and canine eACTH (endogenous adrenocorticotropic hormone). 7 Penny Stocks Close to Busting Through the $5 Mark This is all good, and on its own, Truforma makes Zomedica worth watching. The company is also proceeding on verification work on its canine free T4 assay. See what's happening in the market right now with MarketBeat's real-time news feed. Nasdaq The Major Red Flag That BBBY Stock Investors Need to Know About. The completions add three newly verified assays, feline total T4 (tT4), and canine and feline TSH (thyroid stimulating hormone). The launch of the TRUFORMA platform is an exciting and disruptive milestone in the veterinary diagnostics testing industry that will raise the standard of point-of-care for companion animals." Having an accurate and reliable, patient-side, cortisol assay will allow veterinarians to manage canine adrenal diseases more effectively and efficiently, and could save lives." Type a symbol or company name. Zomedicas product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. Export data to Excel for your own analysis. The analysis tested more than 100 samples across 700 cartridge runs using cartridges produced across numerous manufacturing lots. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Truforma goes on sale starting March 30. I am most excited to use endogenous ACTH in my work as a veterinary internist to help owners make difficult decisions about medical care, including the decision to pursue complex adrenal surgery.. Its a wait-and-see kind of situation. Verification data comparing the canine TRUFORMA TSH assay to the Siemens IMMULITE Canine TSH assay showed high correlation (R=0.99). Necessary cookies are absolutely essential for the website to function properly. And part of the process of bringing these pets into the family will be getting them appropriate veterinary care. Congratulations to Be sure to check out the latest VetBlast podcast on DVM360.com. That statistic alone makes TRUFORMA both timely and useful. Due date calculations for Project Center items do not take into account the time an item was created, but are based on full days. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements relating to our expectations regarding future results. Simply put, more use cases increase the revenue opportunities for ZOM stock. Investor Relations Contact: PCG Advisory GroupKirin Smith, [email protected]+1 646.863.6519. Reader AdvisoryExcept for statements of historical fact, this news release contains certain "forward-looking information" or forward-looking statements (collectively, forward-looking information) within the meaning of applicable securities law. PCG may be compensated by respective clients for publicizing information relating to its clients securities. Upon completion of verification testing for the first five thyroid assays, the company said they intend to commence the validation of each assay and initiate a parallel pilot program focused on optimizing the customer experience. Article printed from InvestorPlace Media, https://investorplace.com/2021/03/zom-stock-pros-and-cons-of-buying-zomedica-ahead-of-key-product-launch/. The first official purchaser of a TRUFORMA system was Jason Berg, DVM, DACVIM, founder and president of Guardian Veterinary Specialists, a 29,000-square-foot advanced emergency critical care and specialty hospital in Brewster, New York. Its products would be competing against established names like IDEXX Laboratories (NASDAQ:IDXX) and Zoetis (NYSE:ZTS). These cookies do not store any personal information. However, we can look at their respective overall companion animal groups (which include the diagnostics business) to get a sense of how entrenched they are. Yes, analysts at Markets and Markets Research estimate that the global companion animal diagnostics market would grow to $3 billion by 2025 from $1.8 billion in 2020. It is a credit to both our employees and to the stellar team with whom we have worked at our development partner, Qorvo Biotechnologies LLC, that we have created a unique and valuable diagnostic tool, and have delivered it to the veterinary market slightly ahead of our previously announced schedule., James Klein, president of Qorvo Biotechnologies said, At Qorvo, we are leveraging the power of Bulk Acoustic Wave (BAW) radio frequency (RF) technology to innovate numerous products such as Wi-Fi routers, mobile phones, 5G cellular infrastructure and now veterinary diagnostics. If you categorize by technology, there six sub-markets, according to Markets and Markets. With chatter ramping up on Reddit, ZOM put together another big surge in February, gaining 137% over three sessions. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Readers are cautioned that this list of risk factors should not be construed as exhaustive. Flexible use cases: At launch, the Truforma would support tests for adrenal and thyroid disorders in cats and dogs. However, this is a company that has struggled mightily to get here. Liquid reagents come preloaded in sealed, disposable cartridges. For more information, visit www.ZOMEDICA.com. Early Bird Registration (September 13-October 17) - $120. It attempted a reverse stock split that failed, then released more shares when its stock shot up in value a move that kicked off the current drop in ZOM stock prices. That represents a CAGR of 9.8%. Also, the verification data demonstrated promising correlation and dynamic range results for the TRUFORMA TSH assay compared to the current industry standard Siemens IMMULITE Canine TSH reference lab assay. Lower costs and improved efficiency for veterinarians: If Truforma delivers on the promise of improved test accuracy, it could help veterinarians become more competitive in two ways. Part of the reason for that number is that the company spent about $2 million less on research and development and cut general and administrative expenses by about $ 1 million. Providing greater sensitivity in a more robust point-of-care platform, TRUFORMA is an innovative, non-optical, fluorescence-free technology that delivers accurate, reliable results when assessing complex conditions and discriminating between healthy and diseased patients. The applications of Truforma are limited to the immunodiagnostics sub-market, which isnt the fastest-growing submarket molecular diagnostics is. We also use third-party cookies that help us analyze and understand how you use this website. I am excited to be the first veterinarian to purchase TRUFORMA. Any internet-connected device can access MyZomedica to view interactive charts, diagnostic tools, and export/print results. However, you may visit "Cookie Settings" to provide a controlled consent. Year to date, ZOM stock is up 793%. For more information, visit www.ZOMEDICA.com. TRUFORMA is the company's innovative diagnostic tool that aims to replace old-fashioned methods of diagnosis that require patient samples to be sent to an outside lab for testing before therapeutic or prescription treatments can be offered. Is Ollies Bargain Outlets A Value Or A Trap? 2023 Benzinga.com. Investor Relations Contact: PCG Advisory Kirin Smith, [email protected]+1 646.823.8656, Plus500. A paper from the Journal of Feline Medicine and Surgery estimated that 10% of cats over the age of 10 will develop hyperthyroidism. Quicker, more precise tests mean they can make treatment decisions faster than they traditionally could. Dr. Berg commented that, As a veterinary internist and business owner, I have devoted myself to advancing the practice of veterinary internal medicine and delivering care with a difference doing more, providing more, and caring more. As Ive made mention of a couple of times in this article, Zomedica is a pre-revenue company. All rights reserved. Thats possible thanks to the bulk acoustic wave (BAW) technology. Total-T4 Assay with enhanced dynamic range. You also have the option to opt-out of these cookies. The potentially revolutionary TRUFORMA diagnostic device is smaller than a desktop printer and is designed to provide highly sensitive, species-optimized initial assays for the diagnosis of thyroid disease in dogs and cats, and adrenal disease in dogs. Reader AdvisoryExcept for statements of historical fact, this news release contains certain "forward-looking information" or forward-looking statements (collectively, forward-looking information) within the meaning of applicable securities law. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to American economic growth, demand for the Companys products, the Companys ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results and financial condition. Zomedica, (NYSE American:ZOM), a veterinary diagnostic company, has completed the final verification of three additional assays for use with its TRUFORMA point-of-care diagnostic platform. We believe that this will be the first fT4 assay available at the point-of-care. Verification data comparing the canine TRUFORMA cortisol assay to the Siemens IMMULITE Cortisol reference lab assay showed high correlation (R=0.97). These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. This communication was produced by PCG Digital Holdings, LLC, and affiliate of PCG Advisory Inc., (together PCG). Dr. Cook has published numerous articles and book chapters on various aspects of small-animal medicine and regularly speaks at national veterinary meetings. Chris has been writing for MarketBeat since 2018. Zomedica is facing an uphill task of making a dent in a market that has some gorillas. After treading water for much of 2020, ZOM stock is up 786% in 2021. It is Zomedicas mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. Now available for purchase are TSH, total T4, and cortisol assays. Its on the verge of launching its first product, a veterinary diagnostic kit for dogs and cats. Related to Proforma Schedule. BAW technology, also used in cell phones and in the worlds most advanced radar and communications systems, is an extremely reliable and precise technology. Get Out Now. Zomedica partnered with semiconductor company Qorvo (NASDAQ:QRVO) to bring this tech to the point-of-care veterinary practice for the first time. He received his DVM degree from Texas A&M University and went on to complete his internship and residency training in veterinary neurology and internal medicine at The AnimalMedical Center in New York City, receiving board certification in neurology in 2000 and in internal medicine in 2002. Verification data comparing the canine TRUFORMA fT4 assay to the Siemens IMMULITE Veterinary Free T4 reference lab assay showed high correlation (R=0.92). For more information, visit www.ZOMEDICA.com. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Lets take a closer look to see if this is a penny stock play. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. This should bring up an additional concern. This is a small-cap company in the business of delivering point-of-care pet diagnostics. As previously announced, TRUFORMA can be installed entirely remotely, which should help limit the impact of the COVID-19 pandemic on instrument installations. His office currently waits 2 days for cortisol test results, 48 hours. Without any revenue coming through the door, the best thing that investors can hope for is a less bad earnings report. By accessing this Site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy. Copyright Tarform. The 2022-23 La Liga, also known as La Liga Santander due to sponsorship reasons, is the 92nd season of La Liga, Spain's premier football competition.It commenced on 12 August 2022 and is scheduled to end on 4 June 2023. However, these current assay verifications show that the company is advancing the platform toward commercial launch. Necessary cookies are absolutely essential for the website to function properly. Please visit our. American Consumer News, LLC dba MarketBeat 2010-2023. In comparison, the TRUFORMA dynamic range is 0.008-10 ng/mL (vs. Siemens IMMULITE canine TSH dynamic range of 0.03-12 ng/mL) which the company believes will permit the measurement of samples with very low TSH levels (feline hyperthyroidism) or very high TSH levels (canine hypothyroidism). NYSEAMERICAN:ZOM is fast approaching what shareholders are hoping to be a defining moment in the company's history at the end of March. By the middle of last summer, it was clear that the surge that happened in March was becoming a full-fledged boom. Its not a pretty picture if youre trying to get a handle on where this companys shares are going to go next. His office saves roughly $25 for each test ($70-$45=$25). Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. But what does Truforma really offer? Enter Truforma, a point-of-care test that veterinarians can use to run such tests in their office. We dedicate ourselves to serving the needs of the broader veterinary community by offering lab services through Bloodhound laboratories, which will allow our practice partners to also advance their endocrine practice. The company has a first mover advantage in an underserved market. This category only includes cookies that ensures basic functionalities and security features of the website. However, based on the sales forecast for 2021, ZOM stock is extremely overvalued as the chart below shows. Protected by approximately 70 issued and pending patents, the TRUFORMA diagnostic platform uses Bulk Acoustic Wave (BAW) technology, developed by Qorvo (NASDAQ: QRVO) to provide a non-optical and fluorescence-free detection system for use at the point-of-care. By clicking Accept All, you consent to the use of ALL the cookies. The companion animal business at Zoetis bought in roughly $3.65 billion in 2020 representing over 50% of the companys overall revenue. 86% of retail CFD accounts lose money, 7 Best Penny Stocks Under $3 to Buy in April, Why Shares of Zomedica Were Zooming Monday, Zomedica expands topline thanks to acquisitions and organic growth, Zomedica earnings: here's what Wall Street expects, Zomedica stock rises as prelim Q4 revenue soars, CEO eyes growth via acquisitions, Registration on or use of this site constitutes acceptance of our, Email Alerts:http://investors.zomedica.com, LinkedIn:https://www.linkedin.com/company/zomedica. Zomedica took advantage of the run up in price to issue more shares, bringing $173.5 million in cash. I will be able to go above and beyond the current standard of care to provide cutting-edge and novel testing to pet owners and veterinarians in seven surrounding counties across two states. The company describes Truforma as a biosensor platform intended for helping veterinarians in diagnosing complex conditions in cats and dogs. The launch of the TRUFORMA platform is nearing. The device, which is on pace to launch by the end of first quarter of 2020, is expecting to earn a large share of the estimated $2.7 billion companion pet diagnostic and healthcare market expected by 2024. It certainly is a pleasure to be able to deliver such good news for our shareholders, employees, partners and, especially, the veterinarians whom we serve, commented Robert Cohen, Interim Chief Executive Officer of Zomedica. A sought-after lecturer and instructor, Dr. Berg has published numerous articles in peer-reviewed journals, including those of the American VeterinaryMedical Association (AVMA), the American College of Veterinary Internal Medicine (ACVIM), and the American Animal Hospital Association (AAHA). Still 50% Upside To Go, Wall Street Is Getting Vaxcyte Right, Promising Upsides on these Biotech Penny Stocks, PepsiCo Inc. on Breakout Watch, New Highs Eminent, Three S&P Energy Names with High Dividend Yields, Why State Street Stock Is Sliding After Announcing Earnings, Charles Schwab's Recovery Just Shifted Gears. Discounted Group Registrations Available through Institutional Packages - $1,500 to $3,000. The first and only feline-optimized TSH assay, which will help veterinarians more readily differentiate between hyperthyroidism and euthyroid sick syndrome. https://www.linkedin.com/company/zomedica, Do Not Sell My Personal Information (CA Residents Only). About ZomedicaBased in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company creating products for dogs and cats by focusing on the unmet needs of clinical veterinarians. Regardless- Truforma is the real deal , FDA approved & ready to launch. 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Relations Contact: PCG Advisory GroupKirin Smith, Presidentksmith @ pcgadvisory.com+1 646.823.8656,.. Be competing against established names like IDEXX Laboratories ( NASDAQ: QRVO ) to bring tech... Another big surge in February, gaining 137 % over three sessions on instrument installations of. Eacth ( endogenous adrenocorticotropic hormone ) more precise tests mean they can make treatment decisions faster than traditionally... Platform intended for helping veterinarians in diagnosing complex conditions in cats and dogs launching first...
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