No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other similar product or service regardless of whether such security, product, or service is referenced in this communication. 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. Investor Relations Contact: PCG Advisory GroupKirin Smith, COOksmith@pcgadvisory.com+1 646.863.6519. Verification of TRUFORMA's initial assays is expected to be completed by the end of the first quarter of 2020. 2023 Zomedica Corp. and Zomedica Inc. All rights reserved. Truforma goes on sale starting March 30. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. If you are eyeing this penny stock, prudence would dictate waiting for some confirmation that Truforma is delivering as advertised. 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. Article printed from InvestorPlace Media, https://investorplace.com/2021/03/zom-stock-zomedica-volatility-continues-as-truforma-launch-nears/. 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. ANN ARBOR, Mich., Nov. 13, 2020 (GLOBE NEWSWIRE) -- Zomedica Corp.(NYSE American: ZOM) (Zomedica or the Company), a veterinary health company creating point-of-care diagnostics products for dogs and cats, today announced that it expects to begin commercialization of its TRUFORMA point-of-care diagnostic platform on March 30, 2021. 2023 Benzinga.com. The Michigan-based company has no revenue. 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. Individual Registration (beginning October 18) - $130. 1125 N. Charles St, Baltimore, MD 21201. Its products would be competing against established names like IDEXX Laboratories (NASDAQ:IDXX) and Zoetis (NYSE:ZTS). This is a momentous day for Zomedica, our shareholders, the veterinarians we serve, and the companion animals in their care. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. 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. These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. It spent last year as a penny stock, with the company facing delisting. Our daily ratings and market update email newsletter. The unique assays make the difference for the device. 5 Hypergrowth Stocks With 10X Potential in 2023, 7 Sorry Pharma Stocks to Sell in April Before Its Too Late, Louis Navellier and the InvestorPlace Research Staff, 5 Penny Stocks With Explosive 5X Potential, Another Rare Bullish Indicator Flashed Last Week. The ability to reliably and accurately measure cortisol on-site in our emergency service at Guardian Veterinary Specialists has the potential to save lives. Please visit our. Truforma goes on sale starting March 30. 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Signal In | An RF signal is delivered to the BAW sensor By the middle of last summer, it was clear that the surge that happened in March was becoming a full-fledged boom. 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. But does the prospect of finally generating revenue justify a 2,500% surge in ZOM stock price in four months? 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. The immediate future of Zomedica hinges heavily on a single about-to-launch product Truforma. If the pets are healthy, that doesnt help 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). If you are attending as part of a diocese or institution registration, follow links for individual registrations above . The TRUFORMA TSH assay was developed and verified for use with both canine and feline samples. Its been a phenomenal start to the year for Zomedica (NYSEAMERICAN:ZOM). 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. However, I find those conclusions misleading. Intensive verification of the TRUFORMA TSH assay was conducted on-site at Qorvo Biotechnologies, LLC, QRVO in two different facilities. Lets take a closer look to see if this is a penny stock play. Further, nothing in this communication is intended to provide tax, legal, or investment advice and nothing in this communication should be construed as a recommendation to buy, sell or hold any investment or security or to engage in any investment strategy or transaction. BAW technology, also used in cell phones and in the worlds most advanced radar and communications systems, is an extremely reliable and precise technology. With that in mind, he isnt overly impressed with what companies say, and more focused on what they do. 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. Certain cut-off values in the prediction of outcome in puppies with parvoviral diarrhea is discussed. I am excited to be the first veterinarian to purchase TRUFORMA. Zomedica Corp. 2023, Nasdaq, Inc. All Rights Reserved. Assuming successful completion of verification, the goal is to complete . There are a few things to note from those forecast figures, though. Its the size of a shoebox and weighs in at just seven pounds. Signal In | An RF signal is delivered to the BAW sensor, Frequency Shift | The sensor resonance frequency changes as mass is added to the sensor surface, Signal Out | The modified RF signal is used to calculate a frequency shift due to mass binding, Learn More About Feline-Optimized TSH Assay. Zomedicas product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. This is all good, and on its own, Truforma makes Zomedica worth watching. These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. His office currently waits 2 days for cortisol test results, 48 hours. 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. As Ive made mention of a couple of times in this article, Zomedica is a pre-revenue company. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are 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. 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. 2023 InvestorPlace Media, LLC. We believe that this will be the first fT4 assay available at the point-of-care. You also have the option to opt-out of these cookies. Delivery Schedule means the schedule for the delivery of Services as set forth in attached Annex 3.. Proforma means producing a balance sheet that reflects a reasonably accurate financial statement of the Failed bank through the date of closing. 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. With chatter ramping up on Reddit, ZOM put together another big surge in February, gaining 137% over three sessions. https://www.linkedin.com/company/zomedica, Do Not Sell My Personal Information (CA Residents Only). Despite the effects of COVID-19 on the economy, veterinary practice financial data estimates show that revenue in the United States for August 2020 was up 18 percent over July 2019. Sound like something youd like to wade into? Type a symbol or company name. An attempted reverse stock split was rejected by shareholders. 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. BAW technology is also used in cell phones and the worlds most advanced radar and communications systems and is considered an extremely reliable and precise technology. These verification studies evaluate two adrenal assays: canine cortisol and canine eACTH (endogenous adrenocorticotropic hormone). Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. 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. Flexible use cases: At launch, the Truforma would support tests for adrenal and thyroid disorders in cats and dogs. Americans were already spending a fortune on pet health care ($29.3 billion in the vet office in 2019). 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. THIS IS SIGNIFICANT and could result in a very quick ROI for the vet offices. 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. Related to Proforma Schedule. However, as Ill discuss below, while Truforma is a truly exciting product, there are a lot of questions to answer. All rights reserved. Year to date, ZOM stock is up 793%. 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. Please visit our. 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. Me neither. Zomedica has five initial assays under development, comprising two panels one each to detect thyroid and adrenal disease. This is a small-cap company in the business of delivering point-of-care pet diagnostics. This is another case of hype causing a dramatic spike in value. Project meetings include phone calls, client meetings, contractor meetings, conversations, conference calls, tasks, site visits, and any other custom meetings . Is Ollies Bargain Outlets A Value Or A Trap? 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. Verification data comparing the canine TRUFORMA fT4 assay to the Siemens IMMULITE Veterinary Free T4 reference lab assay showed high correlation (R=0.92). 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.". 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. Export data to Excel for your own analysis. I would argue that it does not. However, you may visit "Cookie Settings" to provide a controlled consent. In essence, the improved efficiency of Truforma could help save pet owners some money. 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. Any internet-connected device can access MyZomedica to view interactive charts, diagnostic tools, and export/print results. It is mandatory to procure user consent prior to running these cookies on your website. New tech for diagnosing dogs and cats could be a pet-care game changer, but uptake by vets isn't certain. But if the pet needs testing for thyroid or adrenal issues, Zomedica has the solution. Heres a look at the pros and cons of buying ZOM stock. Identify stocks that meet your criteria using seven unique stock screeners. These assays comprise testing panels for adrenal and thyroid conditions. America didnt get the pandemic baby boom that many were expecting. TRUFORMA achieved statistically significant high correlation of R > 0.95 to the Siemens IMMULITE Canine tT4 assay (P value . Shares of Zomedica started picking up steam early in the year, when the company announced on Jan. 4 that it had a new CEO (Robert Cohen) and that its Truforma platform was close to launching.. We also use third-party cookies that help us analyze and understand how you use this website. Necessary cookies are absolutely essential for the website to function properly. 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. Get Out Now. The big news for Zomedica and any investors who have interest in this company as a long-term holding is Truforma. Being able to conduct the test themselves gives faster results, allowing for a quicker start of treatment. Chris has been writing for MarketBeat since 2018. (Almost) Everything You Need To Know About The EV Market. Despite the drama over the past three weeks, ZOM shares are still up more than 2,500% compared to the value in late October. It is Zomedicas mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. 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. ZOM Stock Valuation: At face value, the present $2-ish ZOM stock price looks low compared to the mentioned competitors. As previously announced, TRUFORMA can be installed entirely remotely, which should help limit the impact of the COVID-19 pandemic on instrument installations. The company has a first mover advantage in an underserved market. 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). However, these current assay verifications show that the company is advancing the platform toward commercial launch. Zomedica has announced that they will begin commercialization of TRUFORMA on March 30, 2021, and will continue the development of ZM-020 and ZM-017 diagnostic platforms (to diagnose. 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. And a successful launch may do just that. Adoption risks: As mentioned earlier, the short-to-mid-term future of Zomedica depends on the success of Truforma. Zomedica pointed to dynamic range as being another critical factor in favor of its TRUFORMA device. All rights reserved. Dynamic range is the functional range of a test over which the concentrations of an analyte can be measured with acceptable accuracy and precision. 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. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. https://www.youtube.com/embed/HDDbf76Ngt4, Do Not Sell My Personal Data/Privacy Policy. Readers are cautioned that this list of risk factors should not be construed as exhaustive. Prepares to Launch Veterinarian Diagnostic Device, TRUFORMA(TM); Has Potential to Change Diagnostic Landscape in Animal Health (NYSE American: ZOM) PRESS RELEASE Accesswire Aug. 13 . The companys very first commercial product, Truforma is a shoebox-sized point-of-care diagnostic tool for veterinary offices. PCG may be compensated by respective clients for publicizing information relating to its clients securities. Total-T4 Assay with enhanced dynamic range. 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 Dr. Arielle Pechette Markley, DVM, cVMA, CVPP, CCRT, DAIPM. His office saves roughly $25 for each test ($70-$45=$25). The TRUFORMA dynamic range is 0.45 - >30 g/dL (vs . Amyris May be Oversold, but is it Worth Fighting the Shorts? Copyright The Proforma financial statements serve as a basis for the opening entries of both the Assuming Bank and the Receiver. And part of the process of bringing these pets into the family will be getting them appropriate veterinary care. Zomedica is in the process of building its sales organization in preparation for commercial launch. 2023 Zomedica Corp. and Zomedica Inc. All rights reserved. At this stage, tests are available for thyroid and adrenal issues, but more are coming, including tests for gastrointestinal conditions currently the most common insurance claim for dog owners. Now available for purchase are TSH, total T4, and cortisol assays. Due date calculations for Project Center items do not take into account the time an item was created, but are based on full days. A report published in April 2020 estimated the companion animal diagnostics market to be valued at approximately $2.0 billion in 2019. Investor Relations Contact: PCG Advisory Kirin Smith, Presidentksmith@pcgadvisory.com+1 646.823.8656, Plus500. But if you simply cant wait, it wasnt so long ago that ZOM stock was trading for less than $2. Video Link: https://www.youtube.com/embed/HDDbf76Ngt4. 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! In 2021, things really began to spin. Gains of 41% one day, followed immediately by a drop of 14% the next session. Get short term trading ideas from the MarketBeat Idea Engine. 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. NYSEAMERICAN:ZOM is fast approaching what shareholders are hoping to be a defining moment in the company's history at the end of March. Create your Watchlist to save your favorite quotes on Nasdaq.com. 3 Stocks That Are Poised to Plunge. This is a momentous day for Zomedica, our shareholders, the veterinarians we serve, and the companion animals in their care. And that means it has a small sliver of this market. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. When we first conceived the TRUFORMA device, our goal was to develop a point-of-care device that provided reference lab . A feline-optimized TSH assay is not commercially available. Its a wait-and-see kind of situation. Heck, the stock was even flogged on Cameo by a celebrity. By clicking Accept All, you consent to the use of ALL the cookies. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. Get Out Now. Naturally the market didnt like that move, and ZOM stock has slipped about 30% since the deal closed.