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. 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. To see all exchange delays and terms of use please see Barchart's disclaimer. The completions add three newly verified assays, feline total T4 (tT4), and canine and feline TSH (thyroid stimulating hormone). 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. And a successful launch may do just that. It is Zomedicas mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. Now available for purchase are TSH, total T4, and cortisol assays. The pandemic-fueled pet boom is only going to raise that. Export data to Excel for your own analysis. The entire organization will be supported by MyZomedica, the Companys online portal, which will streamline customer communication and digital touchpoints, giving access to the Zomedica support team and resources. This website uses cookies to improve your experience while you navigate through the website. 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 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.. Zomedica is facing an uphill task of making a dent in a market that has some gorillas. However, theres no crystal ball to tell if it will be a hit with operators in the point-of-care diagnostics for cats and dogs. 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. Verification data comparing the canine TRUFORMA fT4 assay to the Siemens IMMULITE Veterinary Free T4 reference lab assay showed high correlation (R=0.92). 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. 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. You dont need to get a huge return on Zomedica to make it worthwhile investment. 2023 InvestorPlace Media, LLC. However, I find those conclusions misleading.
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. ANN ARBOR, Mich., May 20, 2020 (GLOBE NEWSWIRE) -- Zomedica (NYSE American: ZOM), a veterinary diagnostic company, announced today that it has completed the final verification of three additional. ZOM is trading at $1.25 per share at the time of . Truforma goes on sale starting March 30. 2023 Zomedica Corp. and Zomedica Inc. All rights reserved. The unique assays make the difference for the device. Big Market In Companion Animal Treatments. 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. The company announced last September that it has started developing a gastrointestinal testing panel for Truforma. Benzinga does not provide investment advice. PCG may be compensated by respective clients for publicizing information relating to its clients securities. 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. I very much look forward to being able to report our first sale following launch.. Thats possible thanks to the bulk acoustic wave (BAW) technology. 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. Potentially competitive technology: Zomedica has been pitching Truforma as a tool that provides improved test accuracy in a shorter time.
1125 N. Charles St, Baltimore, MD 21201. 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. THIS IS SIGNIFICANT and could result in a very quick ROI for the vet offices. (844) 978-6257. Truforma goes on sale starting March 30. The verification studies demonstrated a dynamic range allowing the quantification of both high and low TSH concentrations within the same assay for both species, which Zomedica believes is vital for accurate diagnosis of thyroid disease in canines and felines. 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. There are a few things to note from those forecast figures, though. 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. Enter Truforma, a point-of-care test that veterinarians can use to run such tests in their office. Its products would be competing against established names like IDEXX Laboratories (NASDAQ:IDXX) and Zoetis (NYSE:ZTS). The initial three thyroid assays are canine and feline tT4 (thyroxine), canine free T4, and canine and feline TSH (thyroid stimulating hormone). Readers are cautioned not to place undue reliance on forward-looking information. Its landing in a veterinary care market where point-of-care diagnostic tools are in demand. This puts the stock within striking distance of its all-time high. 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, also used in cell phones and in the worlds most advanced radar and communications systems, is an extremely reliable and precise technology. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on and Zomedica wasn't on the list. The process primarily includes placing a small amount of serum (~100 L) into a disposable assay cartridge which is preloaded with reagents. Type a symbol or company name. Dr. Cook has published numerous articles and book chapters on various aspects of small-animal medicine and regularly speaks at national veterinary meetings. We cannot guarantee future results, performance or achievements. 3 Stocks That Are Poised to Plunge. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Please visit our. Identify stocks that meet your criteria using seven unique stock screeners. The optimism about Truforma based on the growth forecasts for pet diagnostics then seems excessive. Readers are cautioned that this list of risk factors should not be construed as exhaustive. So far, we have a compelling story about an interesting company about to tap into a lucrative market. 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. Yet, at $2.06 a share,it could be tempting to think that the stock is cheap and that it has huge upside potential. Zomedica noted that if the same samples are tested on two different types of machines and achieve exactly the same results, the correlation would be R=1. The ONLY free-T4 (fT4) assay available at point of care, eliminating inaccurate results due to sample heating during shipment to a reference laboratory. Zomedica has five initial assays under development, comprising two panels one each to detect thyroid and adrenal disease. 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. By the middle of last summer, it was clear that the surge that happened in March was becoming a full-fledged boom. These cookies do not store any personal information. But opting out of some of these cookies may affect your browsing experience. 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. Upon successfully completing this verification and development work, Zomedica intends to commercialize all five initial assays in select strategic markets. Zomedica is in the process of building its sales organization in preparation for commercial launch. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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.. 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. For more information, visit www.ZOMEDICA.com. Zomedicas product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. TRUFORMA achieved statistically significant high correlation of R > 0.95 to the Siemens IMMULITE Canine tT4 assay (P value . Zomedica partnered with semiconductor company Qorvo (NASDAQ:QRVO) to bring this tech to the point-of-care veterinary practice for the first time. However, things arent quite that simple when it comes to Zomedica. As previously announced, TRUFORMA can be installed entirely remotely, which should help limit the impact of the COVID-19 pandemic on instrument installations. The technology is a high-precision solution presently being used to deliver cleaner signals in communications materials particularly the next-gen 5G-enabled devices. Its been a phenomenal start to the year for Zomedica (NYSEAMERICAN:ZOM). Necessary cookies are absolutely essential for the website to function properly. Naturally the market didnt like that move, and ZOM stock has slipped about 30% since the deal closed. This is a momentous day for Zomedica, our shareholders, the veterinarians we serve, and the companion animals in their care. 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. A paper from the Journal of Feline Medicine and Surgery estimated that 10% of cats over the age of 10 will develop hyperthyroidism. 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