Feb. 9, 2021
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Zomedica is a development stage veterinary diagnostic and pharmaceutical company. The Company is engaged in developing products for companion animals, such as canine, feline, and equine by focusing on needs of clinical veterinarians. It is focused on developing three diagnostic platforms, a Bulk Acoustic Wave sensor-based veterinary point-of-care diagnostic platform for performing immune-o-diagnostic testing,a Raman spec-tro-scopy-based point-of-care diagnostic platform for the detection of pathogens, and liquid biopsy assays for the detection of cancer, along with related consumables. The Company’s TRUFORMA product candidate is an investigational device being developed as a point-of-care biosensor platform. ZM-020 is its diagnostic platform being developed to screen for a range of pathogens in companion animal feces, urine, respiratory, and dermatological samples. It is developing ZM-017 as a canine cancer liquid biopsy platform. Shares of diagnostics stocks generally trade at mid-single-digit multiples of annual sales and Zomedica stock could soar if the company quickly gains a significant share of a growing market. Global spending on diagnostic services for companion animals is expected to rise by around 10% annually and reach $2.8 billion by 2024. Once the Reddit Get Rich Scheme hype subsides, shares will again trade based on their fundamentals. When this happens the share price will fall drastically
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