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PCG Research, a strategic consulting firm focused on small and micro-cap public companies, has updated its research report on Zomedica Pharmaceuticals Corp. (OCT: ZOM) today. To give you a hint of the veil, the target price of the stock is now estimated at: $1.85

About Zomedica Pharmaceuticals Corp.

Zomedica is a veterinary diagnostics and pharmaceutical company that develops products for pets. What makes this leading company different is that innovative solutions and advanced products are sought at the development stage for clinical veterinarians. The team consists of clinical veterinary professionals with experience in veterinary medicine, innovative scientists and business experts. Zomedica claims that diagnostics is the fastest growing sector in the animal health sector with very few competitors. This has led to new developments such as TRUFORMA™.

The launch of TRUFORMA™

TRUFORMA™ is seen as the new showpiece that will soon be launched. Now, what does this mean? TRUFORMA™ is a method of detecting thyroid and adrenal gland disorders in dogs and cats in just 15 minutes. Feasibility data have been obtained and have recently completed the verification of TRUFORMA™ and the first assay. TRUFORMA™ is expected to deliver several milestones, including product launch in selected target markets, international expansion of TRUFORMA™ and marketing of two first-ever point-of-care assays. All of this is reflected in PCG Research’s updated research report.

What else stands out in the updated research report?

Zomedica ended the first quarter with $1.5MM cash. Since then, the company has generated $24MM in gross revenue. In April, the company raised $4MM by 33.3MM of shares at $0.12/share and warrants to buy 16.67MM of shares. The company also received a $0.5MM loan under the SBA’s pay-check protection program in April. On May 29, the company raised $20MM by 133.3MM of shares at $0.15/share along with warrants to purchase 133.3MM in common shares at $0.15/share. As of June 18, 2020, the Company received gross proceeds of 2,233,563 from the exercise of the B and C series warrants. Source: PCG Research

Zomedica has a promising market opportunity within the $2.6 billion global pet diagnostics market, which they believe is expected to grow by a CAGR of nearly 10% to $10 billion by 2024.

Apart from the numbers Zomedica will make a strategic shift and is focusing on the development and commercialization of its diagnostic platform, in particular the TRUFORMA biosensor platform. As a consequence, the company is seeking partners for further development of its therapeutic portfolio. The company has 4 therapeutic pipeline candidates. On top of that Zomedica is proudly presenting their new interim CEO Robert Cohen – who brings 15 years of executive leadership and operations experience spanning the medical device, biotech and pharma industries and a track record of successfully launching medical devices.

The full report can be read here for more information.

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