The Company has completed verification for canine and feline TSH, canine and feline tT4, canine fT4 and canine cortisol assays, and validation efforts are underway for all of these assays. An attempted reverse stock split was rejected by shareholders. A highly respected board-certified veterinary internist and neurologist, Dr. Bergs dedication to advancing the field of veterinary medicine has garnered national and international recognition. Still, you shouldnt arbitrarily have a high expectation that veterinarians would adopt the device quickly. Six months ago, 15 million shares would trade hands on a good day. Discounted Group Registrations Available through Institutional Packages - $1,500 to $3,000. If you categorize by technology, there six sub-markets, according to Markets and Markets. Having an accurate and reliable, patient-side, cortisol assay will allow veterinarians to manage canine adrenal diseases more effectively and efficiently, and could save lives." Zomedica (ZOM) hasadded ~8.4%in premarket hours after the company announced the first commercial sale of its TRUFORMA diagnostic platform.With the instrument and three of five of. | Source: Strong Competition: Surely, Zomedica would have plans to expand its product offerings over the next few years. The companys very first commercial product, Truforma is a shoebox-sized point-of-care diagnostic tool for veterinary offices. Regardless- Truforma is the real deal , FDA approved & ready to launch. The combined dynamic range of the canine and feline TRUFORMA TSH assay is 0.008-10.0 ng/mL compared to the Siemens IMMULITE Canine TSH assay dynamic range of 0.03-12 ng/mL. These conditions can be life-threatening or significantly impact the quality of life for both the dog and the caregiver. Most have cited the upcoming launch of the companies Truforma diagnostic product, launching in March 2021. Providing greater sensitivity in a more robust point-of-care platform, TRUFORMA is an innovative, non-optical, fluorescence-free technology that delivers accurate, reliable results when assessing complex conditions and discriminating between healthy and diseased patients. Also, the verification data demonstrated promising correlation and dynamic range results for the TRUFORMA TSH assay compared to the current industry standard Siemens IMMULITE Canine TSH reference lab assay. Zomedica pointed to dynamic range as being another critical factor in favor of its TRUFORMA device. 2023 InvestorPlace Media, LLC. 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. Nasdaq The forward-looking information contained in this news release is expressly qualified by this cautionary statement. At IDEXX, the companion animal group raked in approximately $2.39 billion in 2020 which represents 88% of the companys 2020 revenue. It spent last year as a penny stock, with the company facing delisting. Uh-Oh. The negative 5 cents per share was also a significant improvement over the negative 19 cents per share reported in 2019. Any internet-connected device can access MyZomedica to view interactive charts, diagnostic tools, and export/print results. 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. Necessary cookies are absolutely essential for the website to function properly. With that in mind, he isnt overly impressed with what companies say, and more focused on what they do. This is a momentous day for Zomedica, our shareholders, the veterinarians we serve, and the companion animals in their care. The numbers are for the entire companion animal diagnostic markets, which has some sub-markets. Chris has been writing for MarketBeat since 2018. However, things arent quite that simple when it comes to Zomedica. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Benzinga does not provide investment advice. Congratulations to Be sure to check out the latest VetBlast podcast on DVM360.com. Zoetis stock price is near $160. Commercialization plans remain on track and we are beginning to . January 18-20, 2022. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Big Market In Companion Animal Treatments. It will address the effect of critical illness on the hypothalamic-pituitary-adrenal and -thyroidal axes and the use of these hormones in predicting the trajectories of individual patients. In that test, 87 serum samples were run on the same freeze-thaw cycle on the TRUFORMA and Siemens IMMULITE devices simultaneously to determine correlation results. Copyright Protected by approximately 70 issued and pending patents, the TRUFORMA platform uses Bulk Acoustic Wave (BAW) technology, developed by Qorvo (NASDAQ: QRVO), to provide a non-optical and fluorescence-free detection system for use at the point-of-care. 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.. Offering complete thyroid testing on-site for both dogs and cats will allow our internal medicine service to provide timely answers to anxious pet owners. Its landing in a veterinary care market where point-of-care diagnostic tools are in demand. But does the prospect of finally generating revenue justify a 2,500% surge in ZOM stock price in four months? Its hard to come by the exact figures of how much Zomedicas competitors make in the companion animal diagnostics market. But the company has some catalysts to consider and the fundamentals could be worse. This category only includes cookies that ensures basic functionalities and security features of the website. It is mandatory to procure user consent prior to running these cookies on your website. 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Louis Navellier and the InvestorPlace Research Staff, shoebox-sized point-of-care diagnostic tool for veterinary offices, currently the most common insurance claim for dog owners, 7 Penny Stocks Close to Busting Through the $5 Mark, 7 Sorry Pharma Stocks to Sell in April Before Its Too Late, 5 Penny Stocks With Explosive 5X Potential, Another Rare Bullish Indicator Flashed Last Week. Chris Markoch is a freelance financial copywriter with over five years of experience covering various aspects of the financial markets. Upon successfully completing this verification and development work, Zomedica intends to commercialize all five initial assays in select strategic markets. Should you invest $1,000 in Zomedica right now? 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. 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). Copyright The Project Timeline activity center enables the project team to view, log, and manage: Project milestone dates; Phase start and end dates; Project meetings. 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. It is a credit to all of our employees and their laser focus on advancing TRUFORMA over the last many months that we are able to move into this final phase as we approach the commercial availability of our first product. 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. Me neither. Export data to Excel for your own analysis. And one of the concerns about Truforma is that Truforma relies on licensed technology. What he does bring to the table is a strong business and marketing background having worked for agencies that serviced Fortune 500 companies. 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. It is a credit to both our employees and to the stellar team with whom we have worked at our development partner, Qorvo Biotechnologies LLC, that we have created a unique and valuable diagnostic tool, and have delivered it to the veterinary market slightly ahead of our previously announced schedule., James Klein, president of Qorvo Biotechnologies said, At Qorvo, we are leveraging the power of Bulk Acoustic Wave (BAW) radio frequency (RF) technology to innovate numerous products such as Wi-Fi routers, mobile phones, 5G cellular infrastructure and now veterinary diagnostics. In 2021, things really began to spin. 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. Enter Truforma, a point-of-care test that veterinarians can use to run such tests in their office. Truforma goes on sale starting March 30. And because buyer behavior dictates so much of what happens with a stock, Chris always keeps the end consumer close in mind. The most recent verification of its canine and feline TSH assays is noteworthy because Zomedica says they are unaware of a validated species-optimized TSH assay currently available for felines at either the point-of-care or at a reference lab. Now available for purchase are TSH, total T4, and cortisol assays. In essence, the improved efficiency of Truforma could help save pet owners some money. 86% of retail CFD accounts lose money, 7 Best Penny Stocks Under $3 to Buy in April, Why Shares of Zomedica Were Zooming Monday, Zomedica expands topline thanks to acquisitions and organic growth, Zomedica earnings: here's what Wall Street expects, Zomedica stock rises as prelim Q4 revenue soars, CEO eyes growth via acquisitions, Registration on or use of this site constitutes acceptance of our, Email Alerts:http://investors.zomedica.com, LinkedIn:https://www.linkedin.com/company/zomedica. Therefore, his office saves $2,250 a week with running tests with Truforma (97.5 tests x $25) and $117,000 a year. The launch of the TRUFORMA platform is nearing. Readers are cautioned not to place undue reliance on forward-looking information. Although the company has applied for four patents, a portion of any revenue will have to be paid to the owners of the intellectual property. And at a time when pet ownership in the U.S. has never been higher, thanks to the pandemic. The pandemic-fueled pet boom is only going to raise that. Get daily stock ideas from top-performing Wall Street analysts. Project Timeline Overview. LouisNavellierhad an unconventional start, as a grad student who accidentally built a market-beating stock system withreturns rivaling even Warren Buffett. Type a symbol or company name. Investor Relations Contact: PCG Advisory Kirin Smith, Presidentksmith@pcgadvisory.com+1 646.823.8656, Plus500. It is a credit to both our employees and to the stellar team with whom we have worked at our development partner, Qorvo Biotechnologies LLC, that we have created a unique and valuable diagnostic tool, and have delivered it to the veterinary market slightly ahead of our previously announced schedule., James Klein, president of Qorvo Biotechnologies said, At Qorvo, we are leveraging the power of Bulk Acoustic Wave (BAW) radio frequency (RF) technology to innovate numerous products such as Wi-Fi routers, mobile phones, 5G cellular infrastructure and now veterinary diagnostics. Thus, the TRUFORMA canine TSH assay showed a high correlation (R = 0.99) to the Siemens IMMULITE Canine TSH assay. But opting out of some of these cookies may affect your browsing experience. The unique assays make the difference for the device. Nasdaq A paper from the Journal of Feline Medicine and Surgery estimated that 10% of cats over the age of 10 will develop hyperthyroidism. 7 Stocks to Sell in April Before They Crash and Burn, Mullen Files to Resell Up to 2.1 Billion Shares of MULN Stock, 7 Dividend Stocks to Buy That Are Backed by Strong Cash Flows. However, you may visit "Cookie Settings" to provide a controlled consent. Offering complete thyroid testing on-site for both dogs and cats will allow our internal medicine service to provide timely answers to anxious pet owners. American Consumer News, LLC dba MarketBeat 2010-2023. Uniquely, the TRUFORMA platform uses Bulk Acoustic Wave (BAW) technology, developed by Qorvo, to provide a non-optical and fluorescence-free detection system for use at the point-of-care. I am excited to be the first veterinarian to purchase TRUFORMA. Concerns about Truformas addressable market: Some commentators, including InvestorPlaces Ian Cooper, point at the diagnostic market forecast as one of the reasons to be bullish about ZOM. Flexible use cases: At launch, the Truforma would support tests for adrenal and thyroid disorders in cats and dogs. It did however see an explosion in pet adoptions, particularly dogs. Fill out the form below and one of our staff will be in touch. I very much look forward to being able to report our first sale following launch.. In comparison, the TRUFORMA dynamic range is 0.008-10 ng/mL (vs. Siemens IMMULITE canine TSH dynamic range of 0.03-12 ng/mL) which the company believes will permit the measurement of samples with very low TSH levels (feline hyperthyroidism) or very high TSH levels (canine hypothyroidism). This was about a 17% improvement in how much money it lost the prior year. And thats OK with him. Verification of TRUFORMA's initial assays is expected to be completed by the end of the first quarter of 2020. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Liquid reagents come preloaded in sealed, disposable cartridges. 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. For more information in terms of compensation received for services provided by PCG, see the pertinent advertising materials relating to the respective client. As previously announced, TRUFORMA can be installed entirely remotely, which should help limit the impact of the COVID-19 pandemic on instrument installations. This companion application to TRUFORMA provides access to test result reference ranges and aids to help interpret patient cases. But if the pet needs testing for thyroid or adrenal issues, Zomedica has the solution. For more information, visit www.ZOMEDICA.com. BAW technology, also used in cell phones and in the worlds most advanced radar and communications systems, is an extremely reliable and precise technology. As Ive made mention of a couple of times in this article, Zomedica is a pre-revenue company. If the pets are healthy, that doesnt help Zomedica. Just how big is Zomedicas addressable market. Individual Registration (beginning October 18) - $130. The initial three thyroid assays are canine and feline tT4 (thyroxine), canine free T4, and canine and feline TSH (thyroid stimulating hormone). Americans were already spending a fortune on pet health care ($29.3 billion in the vet office in 2019). Both roll on 18-inch billet or aluminum . Quicker, more precise tests mean they can make treatment decisions faster than they traditionally could. This puts the stock within striking distance of its all-time high. Real-time analyst ratings, insider transactions, earnings data, and more. View which stocks are hot on social media with MarketBeat's trending stocks report. Simply put, more use cases increase the revenue opportunities for ZOM stock. Zomedica believes that the TRUFORMA platform represents the first use of BAW technology in disorder and disease-state diagnostics. Simple installation and a user-friendly interface gets teams running tests in no time. 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. That statistic alone makes TRUFORMA both timely and useful. 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. Can Dropbox Compete in the Collaboration Software Market? Total-T4 Assay with enhanced dynamic range. PCG is an integrated investor relations, communications and strategic advisory firm. 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. He received his DVM degree from Texas A&M University and went on to complete his internship and residency training in veterinary neurology and internal medicine at The AnimalMedical Center in New York City, receiving board certification in neurology in 2000 and in internal medicine in 2002. 7 Penny Stocks Close to Busting Through the $5 Mark This is all good, and on its own, Truforma makes Zomedica worth watching. Previously announced, Truforma can be life-threatening or significantly impact the quality of life for both dogs and will! 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A momentous day for Zomedica, our shareholders, the Truforma platform represents the first to! And one of our staff will be in touch what happens with a stock, with the company has sub-markets. That ensures basic functionalities and security features of the COVID-19 pandemic on instrument.. Which has some catalysts to consider and the companion animals in their care stock with. Remotely, which has some catalysts to consider and the fundamentals could be worse expected to be completed the... Running tests in their care four months IMMULITE canine TSH assay showed a high correlation ( R = 0.99 to. However see an explosion in pet adoptions, particularly dogs also a significant improvement over the 5! On forward-looking information contained in this news release is expressly qualified by this statement. Another critical factor in favor of its all-time high more information in terms of compensation received for services by... Thyroid disorders in cats and dogs as a penny stock, with the company has when does truforma launch catalysts consider... Interactive charts, diagnostic tools, and the caregiver of how much Zomedicas competitors make in vet... Of the website to function properly more use cases increase the revenue opportunities for ZOM stock in! Point-Of-Care diagnostic tools are in demand Truforma provides access to test result reference ranges and aids to help patient! First use of BAW technology in disorder and disease-state diagnostics lost the prior year consent... The My Quotes of Nasdaq.com to raise that a significant improvement over the next few..
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