Zomedica Corp Stock Price, News & Analysis

Zomedica announced the commercial launch of its second equine-focused assay, the Cortisol assay for equine serum, for the TRUFORMA diagnostic platform. This innovation enables equine veterinarians to conduct stall-side testing, providing rapid results that can lead to life-saving decisions. Traditionally, cortisol measurements required laboratory tests, causing delays that could be critical for foals. The TRUFORMA device, known for its compact and durable design, will allow real-time diagnosis and management of critical illness-related cortisol insufficiency (CIRCI) in foals. This new assay follows the successful launch of Zomedica's endogenous ACTH assay and targets a $1.5 billion annual recurring revenue opportunity in the US, with plans to expand into the European market, forecasted to surpass $3.6 billion by 2028. The TRUFORMA Cortisol assay will be available for order in July.

Zomedica has obtained the CE mark for its TRUFORMA diagnostic platform, enabling its entry into the European Economic Area (EEA). This certification confirms compliance with stringent EU safety, health, and environmental standards.

TRUFORMA, a point-of-care diagnostic tool, has been in the US market since 2021, offering veterinarians quick and accurate test results, empowering faster treatment decisions. The platform is now set to address the European veterinary diagnostics market, which is projected to exceed $3.6 billion by 2028.

Key features include quantitative results with reference lab accuracy and proprietary assays like the Cobalamin & Folate multiplex assay. This expansion positions Zomedica to tap into a significant market opportunity.

Zomedica announced that its EVP and CFO, Peter Donato, will present at the Sidoti Small Cap Conference on June 12, 2024. The presentation will start at 11:30 ET and can be accessed live via a provided webinar link. Zomedica will also conduct virtual one-on-one meetings with investors on June 12-13, 2024. The event registration is free and does not require being a Sidoti client. Additionally, the presentation webcast will be archived for later replay on Zomedica's investor relations website.

On June 6, 2024, Zomedica announced new research findings on its TRUFORMA Bulk Acoustic Wave (BAW) Sensor technology presented at the American College of Veterinary Internal Medicine (ACVIM) Forum. The study, supervised by Dr. Stefanie DeMonaco, demonstrates that TRUFORMA's BAW platform accurately diagnoses hyperthyroidism in cats, even in those with non-thyroid illnesses, outperforming conventional CLIA platforms. This breakthrough was presented by Dr. Camille Brassard. Zomedica also introduced additional studies and educational programs at the forum, further emphasizing the diagnostic precision of the TRUFORMA platform. The company targets an estimated $2.5 billion market with a potential customer base of over 34,000 veterinary practices in the U.S.

Zomedica (NYSE American: ZOM), a veterinary health company, announced the completion of its manufacturing and distribution facility expansion in Roswell, Georgia. The expansion increases the facility's size to 18,400 sq. ft., adding 6,000 sq. ft. of adjacent space, and enhances order fulfillment efficiencies while increasing manufacturing capacity five-fold. This development supports the growing demand for Zomedica's products, including TRUVIEW, VetGuardian, Assisi, PulseVet, and TRUFORMA instruments. Zomedica aims to leverage the Roswell facility's enhanced capabilities to streamline global distribution and meet customer demand efficiently. The company's CEO, Larry Heaton, emphasized the timely nature of the expansion amidst rapid sales growth.

Zomedica announced the launch of an enhanced canine cortisol assay for its TRUFORMA in-clinic diagnostic platform. The upgraded assay improves precision and accuracy, important for critical veterinary tests like the Low Dose Dexamethasone suppression test. This enhancement strengthens TRUFORMA's market position by enabling rapid in-house diagnostics, eliminating the need for external lab testing and offering immediate results, enhancing patient care and operational efficiency. Zomedica targets a $1.5 billion annual recurring revenue opportunity in the US with this platform.

The dynamic range of the cortisol assay has been improved by over 45%, facilitating better monitoring of conditions like Cushing's disease. The company began shipping the new assay earlier this month, reflecting its commitment to optimizing field performance based on customer feedback.

Zomedica has released a white paper showcasing the expanded market opportunities for its PulseVet therapy, which has traditionally been used to treat orthopedic issues in animals. The paper highlights the therapy's effectiveness in treating Exercise Induced Pulmonary Hemorrhage (EIPH) and equine asthma, offering a non-invasive, drug-free treatment option for these conditions. Dr. Beau Whitaker's research indicates that 76% of horses with EIPH improved by at least one grade after a single treatment, compared to 64%-67.5% improvement with the controversial drug furosemide. The market potential for PulseVet is estimated at $1 billion in capital equipment sales and $150 million in annual recurring revenue. This development is pivotal for Zomedica's growth strategy, opening new markets for its technology.

Zomedica, a veterinary health company specializing in point-of-care diagnostics and therapeutic products for equine and companion animals, will present at the Lytham Partners Spring 2024 Investor Conference on May 30, 2024.

The event will include a webcasted presentation at 10:15 am ET, accessible via the conference website or directly at https://wsw.com/webcast/lytham11/zom/1950102. The presentation will also be available for replay.

Additionally, Zomedica's management will hold virtual one-on-one meetings with investors throughout the day. Interested parties can schedule meetings by contacting Lytham Partners or registering for the event.

Zomedica announced the launch of Over-the-Air (OTA) software and firmware update capabilities for its TRUFORMA diagnostic platform on May 15, 2024. This enhancement enables rapid deployment of new assays and features, improving the customer experience. The OTA updates will be managed via Zomedica's myZomedica cloud and IoT platform, allowing customers to apply updates with a single button push. This update follows Zomedica's acquisition of Qorvo Biotechnologies in 2023 and supports the expansion of the TRUFORMA product line. The company aims to streamline the update process and reduce barriers for customer adoption of new assays, while enhancing existing ones and freeing up sales staff from manual upgrade tasks.