Zomedica Corp Stock Price, News & Analysis

Zomedica Corp. (NYSE American: ZOM) announced an underwriting agreement with H.C. Wainwright & Co., LLC to purchase 13,157,895 common shares at $1.90 each, aiming for gross proceeds of approximately $25.0 million. Closing is expected around February 11, 2021, pending customary conditions. A 30-day option for an additional 1,973,684 shares is also granted. Proceeds will be used for the development of diagnostic platforms, milestone payments, potential acquisitions, and general corporate purposes, including a possible repurchase of Series 1 Preferred Shares.

Zomedica Corp. (NYSE American: ZOM) announces a distribution agreement with Miller Veterinary Supply for its first product, TRUFORMA™, set to launch on March 30, 2021. Miller, a leading veterinary distributor with a century-long history, will cover states from Texas to Maine, enhancing customer service through Zomedica's sales support. TRUFORMA™ utilizes advanced Bulk Acoustic Wave technology for precise diagnostics at the point-of-care, backed by approximately 70 patents. Both companies emphasize commitment to quality and service in the veterinary market.

Zomedica Corp. (NYSE American: ZOM) provided a shareholder update on key developments. CEO Robert Cohen expressed optimism for 2021, highlighting progress in product development and strategic initiatives. Zomedica focuses on innovative point-of-care diagnostic tools for veterinary use, aimed at enhancing pet healthcare. The company outlines its commitment to improving diagnostics for dogs and cats, creating potential for growth in the veterinary sector. Zomedica aims to bolster its market presence while addressing the challenges posed by the ongoing global pandemic.

Zomedica Corp. has appointed Robert Cohen as Chief Executive Officer, effective January 1, 2021. Cohen, who has over 30 years of experience in the medical device and biotechnology sectors, previously served as Interim CEO and on the Board of Directors. His appointment aims to enhance shareholder value and successfully launch the TRUFORMA™ point-of-care diagnostic platform. The Board expressed confidence in Cohen's leadership during this crucial phase. The company focuses on veterinary health, providing innovative diagnostics and medical devices for dogs and cats.

Zomedica Corp. reports on the results from its Special Virtual-Only Meeting of Shareholders held on December 15, 2020.

While a majority supported the domestication proposal to Delaware, it failed to achieve the necessary 2/3 vote. Consequently, a new stock option plan will be shelved, though the current plan remains in effect. Despite this setback, Zomedica remains focused on the commercial launch of TRUFORMA™ on March 30, 2021, which utilizes advanced Bulk Acoustic Wave technology for veterinary diagnostics, protected by 70 patents.

Zomedica Corp. (NYSE American: ZOM) announced the completion of its commercial leadership team with the appointment of Debra Rock as Senior Director of Downstream Marketing & Communications. Rock's extensive background in human and animal health marketing will support the upcoming launch of the TRUFORMA diagnostics platform, set for March 30, 2021. Zomedica has approximately 70 patents related to TRUFORMA, which utilizes Bulk Acoustic Wave technology. The leadership team also includes veterans Mike Schilk and Bonnie Bragdon, who have significant experience in medical sales and veterinary affairs, respectively.

Zomedica Corp. (NYSE American: ZOM) announced its TRUFORMA™ point-of-care diagnostic platform will be commercially available on March 30, 2021. This platform, protected by 70 patents, uses Bulk Acoustic Wave (BAW) technology to enable precise diagnostics for dogs and cats. The company has developed five initial assays, including tests for thyroid and adrenal diseases, which have shown encouraging verification results against industry standards. The global companion animal diagnostics market is projected to grow from $1.7 billion in 2019 to $2.8 billion by 2024, suggesting a promising future for Zomedica.

Zomedica Corp. (NYSE American: ZOM) reported its financial results for Q3 2020, showing a net loss of $5.0 million ($0.01/share) compared to a $2.8 million loss in Q3 2019. R&D expenses surged to $2.7 million, mainly due to a milestone payment to Qorvo Biotechnologies, while total cash increased to $52.0 million from $510,586 at year-end 2019, driven by significant financing activities. Notably, net cash from financing was $28.6 million in Q3 2020, a sharp increase from previous years, partially offset by cash used in operating activities. General administrative expenses decreased by 3% and 34% for Q3 and YTD respectively.

Zomedica Corp. (NYSE American: ZOM) announced a request from Interim CEO Robert Cohen for shareholders to approve a domestication proposal at the Special Meeting on December 15, 2020. This proposal aims to reincorporate the company in Delaware, projected to save about $500,000 annually in compliance costs. Management believes this change will enhance shareholder attractiveness, particularly for institutional investors, and reflect Zomedica’s operational presence in the U.S.