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. Endogenous ACTH and free T4 are expected to be available during the coming weeks. It did however see an explosion in pet adoptions, particularly dogs. Importantly, the lower limit of quantification for the feline assay enabled statistically significant (P value = 0.002) discrimination between normal and hyperthyroid feline serum samples. Yet, at $2.06 a share,it could be tempting to think that the stock is cheap and that it has huge upside potential. Uh-Oh. 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. 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. 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. Americans were already spending a fortune on pet health care ($29.3 billion in the vet office in 2019). 2023 InvestorPlace Media, LLC. 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. For more information, visit www.ZOMEDICA.com. Its products would be competing against established names like IDEXX Laboratories (NASDAQ:IDXX) and Zoetis (NYSE:ZTS). 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. 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. From a market perspective for TRUFORMA, a 2019-2020 American Pet Products Association National Pet Owners Survey indicated that 42.7 million U.S. households own at least one cat. Zomedica is in the process of building its sales organization in preparation for commercial launch. The analysis tested more than 100 samples across 700 cartridge runs using cartridges produced across numerous manufacturing lots. An attempted reverse stock split was rejected by shareholders. Get short term trading ideas from the MarketBeat Idea Engine. This means that the standard extended process of diagnosing these ailments adds to the overall cost of treating cats and dogs. When youre investing in penny stocks, the axiom that pigs get fat, hogs get slaughtered is apt advice. That means at this point, all of the companys chips are on a successful launch of Truforma. Individual Registration (beginning October 18) - $130. 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.. 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. Assuming successful completion of verification, the goal is to complete . Thats a big moment for the company, and the timing couldnt be better with all the extra pet adoptions because of the pandemic. Article printed from InvestorPlace Media, https://investorplace.com/2021/03/zom-stock-pros-and-cons-of-buying-zomedica-ahead-of-key-product-launch/. With any penny stock a range of outcomes is possible. 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). 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. See what's happening in the market right now with MarketBeat's real-time news feed. 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. This is another case of hype causing a dramatic spike in value. PCG is not a registered or licensed broker, dealer, broker-dealer, investment adviser nor investment manager, nor does PCG engage in any activities that would require such registrations. 326 E 8th St #105, Sioux Falls, SD 57103 These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. The company has a first mover advantage in an underserved market. Chris has been writing for MarketBeat since 2018. 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. Zomedica partnered with semiconductor company Qorvo (NASDAQ:QRVO) to bring this tech to the point-of-care veterinary practice for the first time. PCG may be compensated by respective clients for publicizing information relating to its clients securities. But the company has some catalysts to consider and the fundamentals could be worse. 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 The forward-looking information contained in this news release is expressly qualified by this cautionary statement. 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. 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. 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. Is Ollies Bargain Outlets A Value Or A Trap? Verification data comparing the canine TRUFORMA fT4 assay to the Siemens IMMULITE Veterinary Free T4 reference lab assay showed high correlation (R=0.92). According to the company itself, the entire diagnostic market will reach $2.8 billion globally by 2024. And one of the concerns about Truforma is that Truforma relies on licensed technology. 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. Copy and paste multiple symbols separated by spaces. 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. Zomedica believes that the TRUFORMA platform represents the first use of BAW technology in disorder and disease-state diagnostics. The bottom line on Zomedica like so many under-the-radar companies of late is that it caught the attention of the Reddit/Robinhood investing crowd. The TRUFORMA TSH assay was developed and verified for use with both canine and feline samples. The launch of the TRUFORMAplatform is an exciting and disruptive milestone in the veterinary diagnostics testing industry that will raise the standard of point-of-care for companion animals.. Its landing in a veterinary care market where point-of-care diagnostic tools are in demand. You also have the option to opt-out of these cookies. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Truforma goes on sale starting March 30. Amyris May be Oversold, but is it Worth Fighting the Shorts? Contact Chris Markoch via email at CTMarkoch@msn.com. Zomedica Inc. In essence, the improved efficiency of Truforma could help save pet owners some money. In this webinar, Dr. Vitucci does a deep dive into shock wave therapy, including providing scientific evidence, case examples, treatment protocols, and helpful tips for using Shock Wave Therapy in your practice. Zomedicas product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. 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. The dynamic range of the canine TRUFORMA fT4 assay is 7.4-77.2 pmol/L compared to the Siemens IMMULITE Veterinary Free T4 assay dynamic range of 3.9-77.2 pmol/L. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Preferences and repeat visits is that Truforma relies on licensed technology big moment for first! Help save pet owners some money ) and Zoetis ( NYSE: )! Give you the most relevant experience by remembering your preferences and repeat visits trading from... 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