Zomedica Corp Stock Price, News & Analysis

Zomedica (NYSE:ZOM) reported Q3 2024 financial results with revenue growing 10% to $7.0 million, maintaining a strong gross margin of 72.3%. The Diagnostics segment grew 38%, while the Therapeutic Device segment increased 9%. Consumable revenues rose 6% to $4.8 million, and capital revenues increased 21% to $2.2 million. The company ended the quarter with $77.8 million in cash and equivalents. Operating expenses increased 21% to $12.5 million, resulting in a net loss of $6.7 million. The company received CE Mark approval for TRUVIEW and expanded international distribution agreements across Europe, Middle East, and Latin America.

Zomedica (NYSE American:ZOM) has launched the Ear Cytology Quick Scan protocol for its TRUVIEW digital microscope and telepathology platform. This new feature, available with the TRUprep automated slide preparation system, reduces ear cytology diagnostic time to just over four minutes, significantly improving veterinary practice workflow. The innovation addresses a growing market, with the Companion Animal Ear Infection Treatment Market projected to reach $1.2 billion by 2032 from $648 million in 2023. The protocol targets otitis, which affects 15-20% of dogs and 4-7% of cats, enabling faster diagnosis of yeast, bacteria, and inflammation.

Zomedica (NYSE American:ZOM), a veterinary health company specializing in point-of-care diagnostic and therapeutic products for equine and companion animals, has scheduled its Q3 2024 earnings conference call for November 7, 2024, at 4:30 p.m. ET. The call will cover operational and financial highlights for the quarter ended September 30, 2024, followed by a Q&A session. Participants can join via phone (+1-800-717-1738 U.S. Toll-Free or +1-646-307-1865 International) or webcast. A replay will be available until November 21, 2024.

Zomedica Corp. (NYSE American:ZOM) has announced its sponsorship of educational programs at the upcoming Fetch Coastal conference in Atlantic City, NJ from October 14-16, 2024. The company will showcase its innovative veterinary products, including the TRUFORMA® diagnostic platform, TRUVIEW™ digital microscope, PulseVet® shock wave platform, and VETGuardian® remote monitor.

Zomedica is sponsoring presentations by leading veterinary experts, including:

• Dr. Shadi J. Ireifej on Brachycephalic Airway Syndrome
• Dr. Adam Christman on pain management modalities
• Steve Dale on separation distress in pets

Zomedica Corp. (NYSE American:ZOM) has expanded its distribution partnership with Grovet in Europe for its equine PulseVet® and TRUFORMA product platforms. The updated agreement grants Grovet exclusive distribution rights in 27 European countries and non-exclusive rights in Italy and the UK. This expansion includes the introduction of the TRUFORMA equine platform to the European market, alongside existing equine assays for eACTH and Cortisol, with equine Insulin launching later this year.

Kevin Klass, Zomedica's Senior VP of Sales, expressed satisfaction with the expanded partnership, highlighting Grovet's success in distributing PulseVet products. Koen Schmitz, Managing Director of Grovet, emphasized the scientific basis of Zomedica's products. The TRUFORMA platform offers equine veterinarians the ability to diagnose and monitor conditions like PPID (Cushing's disease) with reference lab accuracy and point-of-care convenience.

Zomedica Corp. (NYSE American:ZOM) has completed renovations at its 30,000-square-foot facility in Plymouth, Minnesota. The upgrades include an expanded cleanroom for manufacturing operations, installation of a new automated line for TRUFORMA® cartridge production, and improved distribution facilities for more efficient shipping. The new automated cartridge line can produce up to one million cartridges annually, significantly increasing manufacturing capacity to meet growing demand.

The TRUFORMA diagnostic platform uses Qorvo Inc.'s Bulk Acoustic Wave (BAW) sensor technology, offering veterinarians precise diagnostic measurements for thyroid and adrenal conditions, canine non-infectious gastrointestinal disease, and equine Cushing's disease. This renovation strengthens Zomedica's ability to meet customer demand while developing its expanding assay portfolio.

Zomedica Corp. (NYSE American:ZOM) has secured CE Mark approval for its TRUVIEW™ digital microscopy and telepathology platform, enabling commercialization across the European Economic Area. The TRUVIEW system integrates advanced diagnostic features, including LiquiView™ liquid lens technology and TRUprep™ automated slide preparation, enhancing diagnostic accuracy and efficiency in veterinary care.

The platform optimizes workflow by providing high-quality slide preparation and enabling real-time remote consultation. This CE Mark certification affirms the system's compliance with EU health, safety, and environmental standards, marking a significant milestone for Zomedica's expansion into the European market.

Zomedica Corp. (NYSE American:ZOM) announced that its Assisi Loop® product line continues to be designated as a Fear Free Preferred Product. Fear Free, a global initiative focused on reducing fear, anxiety, and stress in pets, has reaffirmed its validation of Assisi's targeted pulsed electromagnetic field (tPEMF) technology. This technology is designed to reduce inflammation and pain, accelerate healing, and alleviate canine separation anxiety.

The Assisi Loop® products, including the Assisi Loop Lounge®, are effective for various inflammatory conditions, such as post-surgical recovery, osteoarthritis, internal inflammation, wound care, spinal and nerve disorders, and bone, joint, and soft tissue injuries. The Calmer Canine Anxiety Treatment System® specifically targets the amygdala to reduce canine anxiety.

This continued designation aligns with the increasing demand for non-invasive veterinary care and supports Zomedica's mission to improve the overall quality of life for pets and their owners.

Zomedica Corp. (NYSE American:ZOM) has introduced advanced audio capabilities for its VETGuardian Zero-touch remote vital signs monitoring system. The new features include real-time audio streaming, recorded playback functionality, and customizable alerts. These enhancements aim to revolutionize remote patient monitoring in veterinary medicine by providing veterinarians with more comprehensive insights into animal health.

The VETGuardian system is now the only product on the market offering contactless vital sign monitoring combined with live video and audio feed. This unique combination allows for detailed remote assessments of animals, enabling early detection of distress signs, evaluation of treatment responses, and more precise care delivery. The audio recording feature also supports improved documentation and medical record-keeping, facilitating better-informed decision-making in veterinary care.