The company describes Truforma as a biosensor platform intended for helping veterinarians in diagnosing complex conditions in cats and dogs. These assays comprise testing panels for adrenal and thyroid conditions. While Zomedica currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. Gains of 41% one day, followed immediately by a drop of 14% the next session. Therefore, his office saves $2,250 a week with running tests with Truforma (97.5 tests x $25) and $117,000 a year. Jan 24, 2023 Zomedica to Take Control of New Assay Development and Manufacturing of TRUFORMA Product Line through Long-Term Licensing Agreement with Qorvo Biotechnologies Jan 18, 2023 Zomedica Expands Relationship with Structured Medical Products and Begins Commercializing VetGuardian Wireless Monitors Jan 17, 2023 These verification studies evaluate two adrenal assays: canine cortisol and canine eACTH (endogenous adrenocorticotropic hormone). 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. Results of the verifications have been encouraging: Stephanie Morley, President & Chief Medical Officer of Zomedica, commented: "Setting the date for the availability of TRUFORMA is the culmination of a dream for me. The TRUFORMA platform uses innovative bulk acoustic wave (BAW) technology to provide a non-optical, fluorescence-free detection system for diagnostic use in veterinary clinics, providing reference laboratory accuracy in-house. Yet, at $2.06 a share,it could be tempting to think that the stock is cheap and that it has huge upside potential. These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. 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 TRUFORMA dynamic range is 0.45 - >30 g/dL (vs . 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. Zomedica Corp. The negative 5 cents per share was also a significant improvement over the negative 19 cents per share reported in 2019. Identify stocks that meet your criteria using seven unique stock screeners. The ONLY on-site canine eACTH assay that eliminates the risk of sample transport error and aids in the diagnosis of adrenal disease. Upon completion of verification testing for the first five thyroid assays, the company said they intend to commence the validation of each assay . However, these current assay verifications show that the company is advancing the platform toward commercial launch. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Its landing in a veterinary care market where point-of-care diagnostic tools are in demand. Currently, such testing requires the veterinarian or technician to take a blood test and ship it to a third party lab. Its possible that the recent interest in ZOM stock may be due to pure speculation without regard to fundamentals. Discounted Group Registrations Available through Institutional Packages - $1,500 to $3,000. Zomedica is expected to complete validation studies for TRUFORMA during the fourth quarter of 2019 with a planned commercial launch before the close of first quarter of 2020. This is a small-cap company in the business of delivering point-of-care pet diagnostics. Early Bird Registration (September 13-October 17) - $120. That statistic alone makes TRUFORMA both timely and useful. 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. View which stocks are hot on social media with MarketBeat's trending stocks report. Due date calculations for Project Center items do not take into account the time an item was created, but are based on full days. 2023 Zomedica Corp. and Zomedica Inc. All rights reserved. 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. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The Company has completed verification for canine and feline TSH, canine and feline tT4, canine fT4 and canine cortisol assays, and validation efforts are underway for all of these assays. A highly respected board-certified veterinary internist and neurologist, Dr. Bergs dedication to advancing the field of veterinary medicine has garnered national and international recognition. Zomedicas product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. Signal In | An RF signal is delivered to the BAW sensor Zomedica Sets March 30, 2021 as Expected Commercialization Date for TRUFORMA Published Nov 13, 2020 6:00AM EST Certain assays under development are believed to be the first ever for use at the. This companion application to TRUFORMA provides access to test result reference ranges and aids to help interpret patient cases. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Dynamic range is the functional range of a test over which the concentrations of an analyte can be measured with acceptable accuracy and precision. As Ive made mention of a couple of times in this article, Zomedica is a pre-revenue company. Yes, the prospects of Truforma are truly eye-popping. Any internet-connected device can access MyZomedica to view interactive charts, diagnostic tools, and export/print results. Verification of TRUFORMA's initial assays is expected to be completed by the end of the first quarter of 2020. Real-time analyst ratings, insider transactions, earnings data, and more. Type a symbol or company name. If you categorize by technology, there six sub-markets, according to Markets and Markets. 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. The TRUFORMA eACTH assay will offer veterinarians the ability to quickly differentiate between pituitary dependent (PDH) and adrenal dependent (ADH) Cushing's syndrome to inform management for the . Zomedica Corp (NYSE:ZOM) has been an interesting case study in the power of hype Reddit, Robinhood and celebrity endorsements (even accidental ones) to propel a stock to stratospheric levels. 0.0001). The company intends to develop additional assays following the initial commercial launch of the TRUFORMA platform. Project meetings include phone calls, client meetings, contractor meetings, conversations, conference calls, tasks, site visits, and any other custom meetings . Me neither. So far, we have a compelling story about an interesting company about to tap into a lucrative market. Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The company will release Truforma along with three assays in a limited geographic area as of March 30. When we first conceived the TRUFORMA device, our goal was to develop a point-of-care device that provided reference lab . Video Link: https://www.youtube.com/embed/HDDbf76Ngt4. That represents a CAGR of 9.8%. In that test, 87 serum samples were run on the same freeze-thaw cycle on the TRUFORMA and Siemens IMMULITE devices simultaneously to determine correlation results. A feline-optimized TSH assay is not commercially available. 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. | Source: Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. 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. That market is expected to reach roughly $2.7 billion by 2027, with a cumulative average growth rate of 4.1% from 2020 to 2027. 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 is mandatory to procure user consent prior to running these cookies on your website. The companion animal business at Zoetis bought in roughly $3.65 billion in 2020 representing over 50% of the companys overall revenue. Adoption risks: As mentioned earlier, the short-to-mid-term future of Zomedica depends on the success of Truforma. Export data to Excel for your own analysis. 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. 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.. But the company has some catalysts to consider and the fundamentals could be worse. Calculating Due Dates. However, you may visit "Cookie Settings" to provide a controlled consent. At IDEXX, the companion animal group raked in approximately $2.39 billion in 2020 which represents 88% of the companys 2020 revenue. Strong Competition: Surely, Zomedica would have plans to expand its product offerings over the next few years. Truforma goes on sale starting March 30. 7 Stocks to Sell in April Before They Crash and Burn, Mullen Files to Resell Up to 2.1 Billion Shares of MULN Stock, 7 Dividend Stocks to Buy That Are Backed by Strong Cash Flows. The company did note in a filing with the Securities and Exchange Commission that the expected timing for the completion of the development work and the commercial launch of the TRUFORMA platform and the five initial assays has been adversely affected by the coronavirus pandemic. 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). And thats OK with him. Assuming successful completion of verification, the goal is to complete . Amyris May be Oversold, but is it Worth Fighting the Shorts? All rights reserved. When youre investing in penny stocks, the axiom that pigs get fat, hogs get slaughtered is apt advice. The diagnostics segment of the global companion animal market is expected to reach $2.8 billion by 2024 from $1.7 billion in 2019, at a 9.8% CAGR. Chris doesnt have a traditional finance background. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and verification and validation studies; uncertainty as to the timing and results of commercialization efforts, as well as the cost of commercialization efforts, including the cost to develop a distribution network and manage our growth; uncertainty as to our ability to supply equipment and assays in response to customer demand; uncertainty as to the likelihood and timing of any required regulatory approvals, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including product manufacturing obligations; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, risks related to the COVID-19 pandemic and its impact upon our business operations generally, including our ability to develop and commercialize our products, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR at www.sedar.com. The process primarily includes placing a small amount of serum (~100 L) into a disposable assay cartridge which is preloaded with reagents. A highly respected board-certified veterinary internist and neurologist, Dr. Bergs dedication to advancing the field of veterinary medicine has garnered national and international recognition. The combined dynamic range of the canine and feline TRUFORMA tT4 assay is 0.45-30.0 g/dL compared to the Siemens IMMULITE tT4 assay dynamic range of 0.5-15 g/dL. Benzinga does not provide investment advice. 3 Dividend Stocks with a Yield Above 5% That Are on Sale Now, Tilray Brands Consolidates Hold: Profits Will Drive Shares Higher, Proterra Inc., A Penny Stock To Put On The Watchlist, Buffett Reduces Taiwan Semiconductor Stake After This Happened, Nio Inc - (NYSE:NIO) Shares Sold by National Bank of Canada FI, Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, Why Restaurant Stocks are the Stocks to Buy Right Now, View 3 Dividend Stocks with a Yield Above 5% That Are on Sale Now, View Tilray Brands Consolidates Hold: Profits Will Drive Shares Higher, View Proterra Inc., A Penny Stock To Put On The Watchlist, View 3 Healthcare Stocks Insiders Are Buying, View Buffett Reduces Taiwan Semiconductor Stake After This Happened, View Nio Inc - (NYSE:NIO) Shares Sold by National Bank of Canada FI. Regardless- Truforma is the real deal , FDA approved & ready to launch. On the date of publication, neither LouisNavellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. Certain cut-off values in the prediction of outcome in puppies with parvoviral diarrhea is discussed. These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. We cannot guarantee future results, performance or achievements. 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. This is a small-cap company in the business of delivering point-of-care pet diagnostics. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. 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. Truforma goes on sale starting March 30. Tarform. Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. The ability to reliably and accurately measure cortisol on-site in our emergency service at Guardian Veterinary Specialists has the potential to save lives. And more quality of life for both the dog and the caregiver TRUFORMA platform 1,500! 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They intend to commence the validation of each assay that emphasize patient health practice. One day, followed immediately by a drop of 14 % the few... Product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health a. A veterinary care market where point-of-care diagnostic tools are in demand first five thyroid,. 'As-Is ' and solely for informational purposes, not for trading purposes or advice, is... About to tap into a lucrative market `` Cookie Settings '' to a! Oversold, but is it Worth Fighting the Shorts 2020 which represents 88 % of companys!

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