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. The launch of the TRUFORMA platform is an exciting and disruptive milestone in the veterinary diagnostics testing industry that will raise the standard of point-of-care for companion animals." Dr. Berg commented that, As a veterinary internist and business owner, I have devoted myself to advancing the practice of veterinary internal medicine and delivering care with a difference doing more, providing more, and caring more. Heck, the stock was even flogged on Cameo by a celebrity. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. If you are attending as part of a diocese or institution registration, follow links for individual registrations above . I am excited to be the first veterinarian to purchase TRUFORMA. Most have cited the upcoming launch of the companies Truforma diagnostic product, launching in March 2021. We cannot guarantee future results, performance or achievements. The negative 5 cents per share was also a significant improvement over the negative 19 cents per share reported in 2019. 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. BAW technology is also used in cell phones and the worlds most advanced radar and communications systems and is considered an extremely reliable and precise technology. Strong Competition: Surely, Zomedica would have plans to expand its product offerings over the next few years. Its not a pretty picture if youre trying to get a handle on where this companys shares are going to go next. Fill out the form below and one of our staff will be in touch. Yes, the prospects of Truforma are truly eye-popping. Chris Markoch is a freelance financial copywriter with over five years of experience covering various aspects of the financial markets. Type a symbol or company name. However, ZOM does not own the technology underlying Truforma and according to. Zomedica Sets March 30, 2021 as Expected Commercialization Date for TRUFORMA Published Nov 13, 2020 6:00AM EST Certain assays under development are believed to be the first ever for use at the. And part of the process of bringing these pets into the family will be getting them appropriate veterinary care. This assay will enable quantification of samples with low levels of TSH, which is necessary to discriminate normal and hyperthyroid feline samples. Simple installation and a user-friendly interface gets teams running tests in no time. 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." The dynamic range of the canine TRUFORMA fT4 assay is 7.4-77.2 pmol/L compared to the Siemens IMMULITE Veterinary Free T4 assay dynamic range of 3.9-77.2 pmol/L. Zomedica pointed to dynamic range as being another critical factor in favor of its TRUFORMA device. The company is also proceeding on verification work on its canine free T4 assay. 326 E 8th St #105, Sioux Falls, SD 57103 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. Yet, at $2.06 a share,it could be tempting to think that the stock is cheap and that it has huge upside potential. Protected by approximately 70 issued and pending patents, the TRUFORMA diagnostic 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. 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. 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. By clicking Accept All, you consent to the use of ALL the cookies. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The company did note in a filing with the Securities and Exchange Commission that the expected timing for the completion of the development work and the commercial launch of the TRUFORMA platform and the five initial assays has been adversely affected by the coronavirus pandemic. This is a momentous day for Zomedica, our shareholders, the veterinarians we serve, and the companion animals in their care. Early Bird Registration (September 13-October 17) - $120. This companion application to TRUFORMA provides access to test result reference ranges and aids to help interpret patient cases. ZOM is trading at $1.25 per share at the time of . Its not a hard one to call, honestly. You also have the option to opt-out of these cookies. The Launch of Truforma Should Send Zomedica to An All-Time High Fri., March 12, 2021 | Chris Markoch Zomedica (NYSEAMERICAN:ZOM) is a pre-revenue company that is about to bring its first product to market. The Proforma financial statements serve as a basis for the opening entries of both the Assuming Bank and the Receiver. This category only includes cookies that ensures basic functionalities and security features of the website. Contact Chris Markoch via email at CTMarkoch@msn.com. That has been the ZOM stock story in 2021. For the full year 2020, the company reported a loss of $16.9 million. These symbols will be available throughout the site during your session. A report published in April 2020 estimated the companion animal diagnostics market to be valued at approximately $2.0 billion in 2019. 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." Results of the verifications have been encouraging: Stephanie Morley, President & Chief Medical Officer of Zomedica, commented: "Setting the date for the availability of TRUFORMA is the culmination of a dream for me. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Zomedica is in the process of building its sales organization in preparation for commercial launch. Type a symbol or company name. Readers are cautioned not to place undue reliance on forward-looking information. Thus, the TRUFORMA canine TSH assay showed a high correlation (R = 0.99) to the Siemens IMMULITE Canine TSH assay. The TRUFORMA dynamic range is 0.45 - >30 g/dL (vs . But if the pet needs testing for thyroid or adrenal issues, Zomedica has the solution. Dynamic range is the functional range of a test over which the concentrations of an analyte can be measured with acceptable accuracy and precision. (Almost) Everything You Need To Know About The EV Market. It spent last year as a penny stock, with the company facing delisting. To see all exchange delays and terms of use please see Barchart's disclaimer. 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. These cookies will be stored in your browser only with your consent. But it wont take much to send Zomedica shares lower. Necessary cookies are absolutely essential for the website to function properly. 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. This puts the stock within striking distance of its all-time high. These cookies will be stored in your browser only with your consent. The company describes Truforma as a biosensor platform intended for helping veterinarians in diagnosing complex conditions in cats and dogs. PCG is an integrated investor relations, communications and strategic advisory firm. Upon completion of verification testing for the first five thyroid assays, the company said they intend to commence the validation of each assay . They include clinical biochemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics and others (which, of course, factors other small applications). We believe that this will be the first fT4 assay available at the point-of-care. Intensive verification of the TRUFORMA TSH assay was conducted on-site at Qorvo Biotechnologies, LLC, QRVO in two different facilities. Verification data comparing the canine and feline TRUFORMA tT4 assay to the Siemens IMMULITE Canine tT4 reference lab assay showed high correlation (R=0.94). Chris has been writing for MarketBeat since 2018. Zomedica Corp. ANN ARBOR, Mich., March 16, 2021 (GLOBE NEWSWIRE) -- Zomedica Corp.(NYSE American: ZOM) (Zomedica or the Company), a veterinary health company creating point-of-care diagnostics products for dogs and cats, yesterday recorded the first veterinarian sale of TRUFORMA and officially entered commercialization. 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. Zomedica has five initial assays under development, comprising two panels one each to detect thyroid and adrenal disease. Click the link below and we'll send you MarketBeat's guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise. However, we can look at their respective overall companion animal groups (which include the diagnostics business) to get a sense of how entrenched they are. 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. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Verification data comparing the canine TRUFORMA TSH assay to the Siemens IMMULITE Canine TSH assay showed high correlation (R=0.99). Lower costs and improved efficiency for veterinarians: If Truforma delivers on the promise of improved test accuracy, it could help veterinarians become more competitive in two ways. Get daily stock ideas from top-performing Wall Street analysts. 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. The TRUFORMA eACTH assay will offer veterinarians the ability to quickly differentiate between pituitary dependent (PDH) and adrenal dependent (ADH) Cushing's syndrome to inform management for the . Further, nothing in this communication is intended to provide tax, legal, or investment advice and nothing in this communication should be construed as a recommendation to buy, sell or hold any investment or security or to engage in any investment strategy or transaction. Assuming successful completion of verification, the goal is to complete . Project Timeline Overview. For more information, visit www.ZOMEDICA.com. Therefore, his office saves $2,250 a week with running tests with Truforma (97.5 tests x $25) and $117,000 a year. 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. Calculating Due Dates. 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. 1125 N. Charles St, Baltimore, MD 21201. 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. Flexible use cases: At launch, the Truforma would support tests for adrenal and thyroid disorders in cats and dogs. Get Out Now. 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. That means at this point, all of the companys chips are on a successful launch of Truforma. TRUFORMA canine and feline assays were evaluated and compared with those of the predicate industry gold standard. https://www.youtube.com/embed/HDDbf76Ngt4, Do Not Sell My Personal Data/Privacy Policy. Canine-Optimized Cortisol assay that delivers reference lab accuracy with point-of-care convenience. The Major Red Flag That BBBY Stock Investors Need to Know About. March 16, 2021 06:00 ET When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Uh-Oh. Dynamic range is the functional range of a test over which the concentrations of an analyte can be measured with acceptable accuracy and precision. The feasibility and design phases of the TRUFORMA ACTH assay have been completed, with verification expected to begin in the near future. Copyright I very much look forward to being able to report our first sale following launch.. 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. Dr. Berg commented that, As a veterinary internist and business owner, I have devoted myself to advancing the practice of veterinary internal medicine and delivering care with a difference doing more, providing more, and caring more. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to American economic growth, demand for the Companys products, the Companys ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results and financial condition. The TRUFORMA TSH assay was developed and verified for use with both canine and feline samples. We are, of course, approaching our planned March 30 th commercial launch of TRUFORMA, our point-of-care diagnostic platform. All rights reserved. Thus far, the stock has had mixed results leading up to. But Zomedica is currently only testing for a narrow range of diagnostic conditions. The Project Timeline activity center enables the project team to view, log, and manage: Project milestone dates; Phase start and end dates; Project meetings. According to Zomedica, the time to result for the TRUFORMA TSH assay is less than 20 minutes. 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. Importantly, the lower limit of quantification for the feline assay enabled statistically significant (P value = 0.002) discrimination between normal and hyperthyroid feline serum samples. Copy and paste multiple symbols separated by spaces. Combined with the previously verified canine total tT4 assay, the total represents the completion of the first two assays for both canine and feline of the total of five assays initially planned for use with the TRUFORMA platform. It is mandatory to procure user consent prior to running these cookies on your website. The applications of Truforma are limited to the immunodiagnostics sub-market, which isnt the fastest-growing submarket molecular diagnostics is. However, you may visit "Cookie Settings" to provide a controlled consent. I am excited to be the first veterinarian to purchase TRUFORMA. As Ive made mention of a couple of times in this article, Zomedica is a pre-revenue company. Before you consider Zomedica, you'll want to hear this. A feline-optimized TSH assay is not commercially available. Despite the drama over the past three weeks, ZOM shares are still up more than 2,500% compared to the value in late October. 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. So far, we have a compelling story about an interesting company about to tap into a lucrative market. Create your Watchlist to save your favorite quotes on Nasdaq.com. quotes delayed at least 15 minutes, all others at least 20 minutes. 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 means that the standard extended process of diagnosing these ailments adds to the overall cost of treating cats and dogs. 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