The forward-looking information contained in this news release is expressly qualified by this cautionary statement. https://www.linkedin.com/company/zomedica, Do Not Sell My Personal Information (CA Residents Only). March 16, 2021 06:00 ET 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. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Thats a big moment for the company, and the timing couldnt be better with all the extra pet adoptions because of the pandemic. Nasdaq We also use third-party cookies that help us analyze and understand how you use this website. We are, of course, approaching our planned March 30 th commercial launch of TRUFORMA, our point-of-care diagnostic platform. His office currently waits 2 days for cortisol test results, 48 hours. Get Out Now. The Launch of Truforma Should Send Zomedica to An All-Time High Fri., March 12, 2021 | Chris Markoch Zomedica (NYSEAMERICAN:ZOM) is a pre-revenue company that is about to bring its first product to market. Tarform. All rights reserved. You dont need to get a huge return on Zomedica to make it worthwhile investment. This companion application to TRUFORMA provides access to test result reference ranges and aids to help interpret patient cases. However, you may visit "Cookie Settings" to provide a controlled consent. Potentially competitive technology: Zomedica has been pitching Truforma as a tool that provides improved test accuracy in a shorter time. Zomedicas product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. Necessary cookies are absolutely essential for the website to function properly. With the instrument and three of five of the initial assays available for sale, the decision was made to initiate the commercial launch of TRUFORMA ahead of the previously disclosed March 30th schedule. 2023 Zomedica Corp. and Zomedica Inc. All rights reserved. The applications of Truforma are limited to the immunodiagnostics sub-market, which isnt the fastest-growing submarket molecular diagnostics is. Just how big is Zomedicas addressable market. Article printed from InvestorPlace Media, https://investorplace.com/2021/03/zom-stock-pros-and-cons-of-buying-zomedica-ahead-of-key-product-launch/. This should bring up an additional concern. Certain cut-off values in the prediction of outcome in puppies with parvoviral diarrhea is discussed. Flexible use cases: At launch, the Truforma would support tests for adrenal and thyroid disorders in cats and dogs. 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. 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. 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. Get Out Now. And at a time when pet ownership in the U.S. has never been higher, thanks to the pandemic. Before you consider Zomedica, you'll want to hear this. The big news for Zomedica and any investors who have interest in this company as a long-term holding is Truforma. To view the original version on ABNewswire visit: Zomedica\s TRUFORMA Expands Suite Of Assays, Revolutionary Platform Readies For Commercialization. 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. TRUFORMA canine and feline assays were evaluated and compared with those of the predicate industry gold standard. According to the company itself, the entire diagnostic market will reach $2.8 billion globally by 2024. Real-time analyst ratings, insider transactions, earnings data, and more. Uniquely, the TRUFORMA platform uses Bulk Acoustic Wave (BAW) technology, developed by Qorvo, to provide a non-optical and fluorescence-free detection system for use at the point-of-care. 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 the public offering. It is mandatory to procure user consent prior to running these cookies on your website. On the date of publication,Craig Adeyanjudid not have (either directly or indirectly) any positions in the securities mentioned in this article. But it wont take much to send Zomedica shares lower. And that means it has a small sliver of this market. Gains of 41% one day, followed immediately by a drop of 14% the next session. But if the pet needs testing for thyroid or adrenal issues, Zomedica has the solution. An attempted reverse stock split was rejected by shareholders. Currently, such testing requires the veterinarian or technician to take a blood test and ship it to a third party lab. We believe that this will be the first fT4 assay available at the point-of-care. 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. His office saves roughly $25 for each test ($70-$45=$25). 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. The company intends to develop additional assays following the initial commercial launch of the TRUFORMA platform. Last November, ZOM was a penny stock facing the prospect of delisting. quotes delayed at least 15 minutes, all others at least 20 minutes. Lets take a closer look to see if this is a penny stock play. Intensive verification of the TRUFORMA TSH assay was conducted on-site at Qorvo Biotechnologies, LLC, QRVO in two different facilities. Simple installation and a user-friendly interface gets teams running tests in no time. With that in mind, he isnt overly impressed with what companies say, and more focused on what they do. This assay will enable quantification of samples with low levels of TSH, which is necessary to discriminate normal and hyperthyroid feline samples. PCG does not provide investment advice, endorsement, analysis or recommendations with respect to any securities, and its services to or statements about its clients should never be construed as any endorsement of or opinion about any security of any client. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. 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. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. 100 Phoenix DriveSuite 125Ann Arbor, MI 48108, General inquiries: info@zomedica.comInvestor inquiries: investors@zomedica.com, Privacy Notice | Terms of Use | Supplier Terms & Conditions | Minimum Advertised Pricing | Customer Terms & Conditions | Forward Looking Statements. 2023 Benzinga.com. Readers are cautioned not to place undue reliance on forward-looking information. 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 And thats OK with him. Investor Relations Contact: PCG Advisory Kirin Smith, Presidentksmith@pcgadvisory.com+1 646.823.8656, https://www.linkedin.com/company/zomedica. However, ZOM does not own the technology underlying Truforma and according to. Zomedica adds that the presently available canine-optimized TSH predicate standard test has been evaluated for feline use; however, that test cannot distinguish between low and low-normal TSH levels in cats to its limited sensitivity. Please visit our. Zomedica has five initial assays under development, comprising two panels one each to detect thyroid and adrenal disease. Canine-Optimized Cortisol assay that delivers reference lab accuracy with point-of-care convenience. Assay performance metrics to determine specificity and sensitivity were determined with the goal of meeting or exceeding the stringent testing standards found in a reference lab setting. These cookies will be stored in your browser only with your consent. Zomedica pointed to dynamic range as being another critical factor in favor of its TRUFORMA device. But opting out of some of these cookies may affect your browsing experience. 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 numbers are for the entire companion animal diagnostic markets, which has some sub-markets. We set out to develop a product that could provide the accuracy of the reference lab and the convenience of point-of-care for the veterinary community. Upon successfully completing this verification and development work, Zomedica intends to commercialize all five initial assays in select strategic markets. It is a credit to all of our employees and their laser focus on advancing TRUFORMA over the last many months that we are able to move into this final phase as we approach the commercial availability of our first product. At IDEXX, the companion animal group raked in approximately $2.39 billion in 2020 which represents 88% of the companys 2020 revenue. Wall Street's IDEXX consensus EPS forecast is $7.5 per share, compared to a current share price of $503, translating to a 67x forward P/E ratio. Having a point-of-care cortisol test available also was welcomed by Audrey Cook, BVM&S, Dip ACVIM at Texas A&M College of Veterinary Medicine and Biomedical Sciences: Veterinarians rely on serum cortisol measurements to diagnose and manage adrenal diseases in dogs. A paper from the Journal of Feline Medicine and Surgery estimated that 10% of cats over the age of 10 will develop hyperthyroidism. The analysis tested more than 100 samples across 700 cartridge runs using cartridges produced across numerous manufacturing lots. 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. These cookies do not store any personal information. Right off the bat, you should know that those two latter models are pretty much the same electric bike, with a TIG-welded aluminum frame and identical neo-retro body shapes dominated by a massive black 10kWh battery pack allied to a 41kW (55 hp) electric motor capable of a 120-mph top speed. Verification data comparing the canine TRUFORMA fT4 assay to the Siemens IMMULITE Veterinary Free T4 reference lab assay showed high correlation (R=0.92). We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Sound like something youd like to wade into? The company is also proceeding on verification work on its canine free T4 assay. Having a point-of-care cortisol test available also was welcomed by Audrey Cook, BVM&S, Dip ACVIM at Texas A&M College of Veterinary Medicine and Biomedical Sciences: Veterinarians rely on serum cortisol measurements to diagnose and manage adrenal diseases in dogs. Individual Registration (beginning October 18) - $130. 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. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. BVSc, MMedVet(Med), PhD, DSAM, Dipl, ECVIM. Yes, the prospects of Truforma are truly eye-popping. Commercialization plans remain on track and we are beginning to . 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 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. The company describes Truforma as a biosensor platform intended for helping veterinarians in diagnosing complex conditions in cats and dogs. January 18-20, 2022. The information contained on this may be Paid Advertising for purposes of Section 17(b) of the Securities Act of 1933, as amended (together with the rules and regulations there under, the Securities Act). Fortunately Zomedica is delivering. Fill out the form below and one of our staff will be in touch. Most have cited the upcoming launch of the companies Truforma diagnostic product, launching in March 2021. It is Zomedicas mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. It spent last year as a penny stock, with the company facing delisting. But what does Truforma really offer? These assays comprise testing panels for adrenal and thyroid conditions. Concerns about Truformas addressable market: Some commentators, including InvestorPlaces Ian Cooper, point at the diagnostic market forecast as one of the reasons to be bullish about ZOM. Zomedica had $76.7 million on its books at the end of last year as opposed to $14.9 the prior year. Adoption risks: As mentioned earlier, the short-to-mid-term future of Zomedica depends on the success of Truforma. Type a symbol or company name. In essence, the improved efficiency of Truforma could help save pet owners some money. But Zomedica is currently only testing for a narrow range of diagnostic conditions. Year to date, ZOM stock is up 793%. Simply put, more use cases increase the revenue opportunities for ZOM stock. These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. Heck, the stock was even flogged on Cameo by a celebrity. The Michigan-based company has no revenue. The first and only feline-optimized TSH assay, which will help veterinarians more readily differentiate between hyperthyroidism and euthyroid sick syndrome. PCG is an integrated investor relations, communications and strategic advisory firm. In-depth profiles and analysis for 20,000 public companies. 0.0001). But if you simply cant wait, it wasnt so long ago that ZOM stock was trading for less than $2. With chatter ramping up on Reddit, ZOM put together another big surge in February, gaining 137% over three sessions. 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. 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. Yet, at $2.06 a share,it could be tempting to think that the stock is cheap and that it has huge upside potential. Both roll on 18-inch billet or aluminum . By the middle of last summer, it was clear that the surge that happened in March was becoming a full-fledged boom. By clicking Accept All, you consent to the use of ALL the cookies. 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. You may find his writing a little different than other stock articles youve read. Readers are cautioned that this list of risk factors should not be construed as exhaustive. 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.. Identify stocks that meet your criteria using seven unique stock screeners. 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. 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. 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). This website uses cookies to improve your experience while you navigate through the website. BAW technology, also used in cell phones and in the worlds most advanced radar and communications systems, is an extremely reliable and precise technology. Uh-Oh. Its on the verge of launching its first product, a veterinary diagnostic kit for dogs and cats. The fact that some of our assays under development not only are believed to be the first ever developed for use at the point-of-care, but also the first ever available in veterinary medicine, is expected to be an exciting contribution to the health and treatment of our pets.". Its hard to come by the exact figures of how much Zomedicas competitors make in the companion animal diagnostics market. All rights reserved. This puts the stock within striking distance of its all-time high. As Ive made mention of a couple of times in this article, Zomedica is a pre-revenue company. 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. This webinar will introduce attendees to the use of biomarkers in critical illness; more specifically the use of the endocrine parameters; cortisol and thyroxine in canine critical illness. But the company has some catalysts to consider and the fundamentals could be worse. The fallouts from that hype have included extreme volatility in ZOM stock. 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 category only includes cookies that ensures basic functionalities and security features of the website. For more information, visit www.ZOMEDICA.com. 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. If you are eyeing this penny stock, prudence would dictate waiting for some confirmation that Truforma is delivering as advertised. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. The most recent verification of its canine and feline TSH assays is noteworthy because Zomedica says they are unaware of a validated species-optimized TSH assay currently available for felines at either the point-of-care or at a reference lab. And because buyer behavior dictates so much of what happens with a stock, Chris always keeps the end consumer close in mind. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. 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. ZOM Stock Valuation: At face value, the present $2-ish ZOM stock price looks low compared to the mentioned competitors. Video Link: https://www.youtube.com/embed/HDDbf76Ngt4. Related to Proforma Schedule. The huge gains (and volatility) in ZOM stock are more about Reddit and celebrity endorsements. 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. The Major Red Flag That BBBY Stock Investors Need to Know About. 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. Still, you shouldnt arbitrarily have a high expectation that veterinarians would adopt the device quickly. Heres a look at the pros and cons of buying ZOM stock. Fill out the form below and well send along some additional materials to help you decide if TRUFORMA is a good fit for your clinic. Zomedicas product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. Naturally the market didnt like that move, and ZOM stock has slipped about 30% since the deal closed. We are pleased to announce that PulseVet has been named as the Congratulations to our small animal business manager, Dr. Jennifer Vitucci What happens in Vegas.didnt stay in Vegas this time! The launch of the TRUFORMA platform is nearing. 5 Hypergrowth Stocks With 10X Potential in 2023, Louis Navellier and the InvestorPlace Research Staff, shoebox-sized point-of-care diagnostic tool for veterinary offices, currently the most common insurance claim for dog owners, 7 Penny Stocks Close to Busting Through the $5 Mark, 7 Sorry Pharma Stocks to Sell in April Before Its Too Late, 5 Penny Stocks With Explosive 5X Potential, Another Rare Bullish Indicator Flashed Last Week. Zomedica believes that the TRUFORMA platform represents the first use of BAW technology in disorder and disease-state diagnostics. 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