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Tag: NYSE: ZOM

  • What Is Raising The ZOM Stock Up Pre Market?

    What Is Raising The ZOM Stock Up Pre Market?

    The shares of Zomedica Corp. (ZOM) have increased 4.51% to $0.7420 in premarket trading as of last check. Zomedica stock ended Thursday’s session down -3.43% at $0.71. There were 24.42 million shares traded which was below the average daily volume of 34.07 million shares during the past 50 days. Zomedica has a current market capitalization of $721.74 million, and its outstanding shares amount to 977.81 million. After providing an update on the company’s performance, ZOM stock has been rising.

    ZOM has updated what?

    Zomedica is a veterinary health company based in Ann Arbor, Michigan, that focuses on meeting the unmet needs of clinical veterinarians. ZOM intends to offer a product portfolio that emphasizes both patient and practitioner health by developing innovative diagnostics and medical devices. Zom is committed to helping veterinarians increase productivity and increase revenue while improving the care of animals.

    The veterinary health company, Zomedica, that designs point-of-care diagnostic products for both dogs and cats, has issued the following corporate update:

    • ZOM’s flagship product, TRUFORMA, will offer five initial assays to detect adrenal and thyroid disorders, followed by several more assays that will cover numerous diseases.
    • As of now, three of ZOM’s initial tests are available.
    • Since its development partner, Qorvo Biotechnologies, is yet to complete the fT4 and ACTH assays, ZOM wants to encourage veterinarians to adopt the TRUFORMA platform in order to test it.
    • ZOM is undertaking this effort now and will continue until the summer of 2021.
    • ZOM is also actively recruiting top-level representatives, professional services veterinarians, and support staff so that it can effectively execute its instrument placement programs and prepare for a significant increase in sales once fT4 and ACTH is available for purchase.
    • ZOM plans to hire fifteen direct sales representatives by the end of 2021, as well as four veterinarians who will perform professional services, as well as inside sales representatives and customer service personnel.
    • The fT4 assay is expected to hit the market in late September or early October, followed two months later by ACTH.
    • In addition, three new tests (cPL, Cobalamin, and Folate) are under development to diagnose gastro-intestinal conditions.

    ZOM’s further efforts:

    Currently, Ziomedica (ZOM) and Qorvo are discussing when and how further assays will be developed after those already identified. It is also expected that ZOM’s TRUFORMA will be available in select markets outside the United States in 2022. Zomedica employees in Michigan have also returned to working on-premises beginning July 6, 2021.

  • ZomedicaCorp. (ZOM) shares spiked in the after-market session

    ZomedicaCorp. (NYSE: ZOM) stock jumped 14.46% to 0.205 in the after-market session. Yet, there does notseem to be any company-specific news that has prompted Ideanomics’ share priceto increase today, and investors will want to take that as a warning sign.

    Nevertheless, on November 12, 2020, the firm with the marketcapitalization of 101.02M officially posted consolidated financial reports for the thirdquarter ended September 30, 2020.

    Zomedica(NYSE: ZOM) revealed that Research and development spending for the quarter

    ended September 30, 2020, was about $2.7 million, compared to approximately $1.0million for the three months ended September 30, 2019, a rise of approximately1.7 million, or 181percent. The rise was largely attributed to a milestonecost of $2.0 million under ourproduction and supply dealwith QorvoBiotechnologies, LLC., compensated in part by reducing about $237,000 in agreedexpenditures, materials, regulatory fees, and consultancy fees.

    Moreover,a veterinary health organization developing point-of-care testing products fordogs and cats revealed on November 13, 2020, a plan to deliver the TRUFORMAa point-of-care  diagnostic platform on March 30, 2021.

  • Stocks to Watch despite Bearish Market Outlook

    Stocks to Watch despite Bearish Market Outlook

    The markets are down this morning, indicating that the selloff that started on Friday could continue all through the day. This is due to a combination of factors that could see the markets remain volatile for quite a while.

    One of the key factors dragging the market down is the rising number of COVID-19 cases globally. In the U.S, Europe and the rest of the world, the numbers are spiking again after a slowdown through August. This has created fears that even States that have reopened could go back into lockdown further, hurting an already weak economy.

    The pandemic-driven uncertainty is a compounded by the fact that the U.S is just a few weeks to an election. This means that investors are likely to exit from high-risk stocks in anticipation of a close-call election and increase volatile in the market.

    On top of that, markets are usually slow in September, and this coupled with the higher risk levels are all affecting the markets today. However, even in the current largely negative market sentiment, there are stocks that are headed to a good start to the day. Some of the stocks doing well pre-market are:

    Northern Oil and Gas Inc [NYSE: NOG]

    Northern Oil and Gas Inc is one of the biggest gainers this morning. This follows the company’s announcement that it was doing a 1 for 10 reverse stock split that will take effect today.

    The company stated that the split was aimed at lowering the cost of ownership and improve the company’s capacity to take part in broader market indices. The company also announced that it would be using the stock split to improve the financial health of the company. With the split in place, this stock stands to be a top gainer all through the day.

    Zomedica Pharmaceuticals Corp [NYSE: ZOM]

    Zomedica Pharmaceuticals Corp is another stock that is in the green this morning. This stock’s upside momentum is largely price action-driven and follows the announcement that the company was planning to make a gastrointestinal testing panel for TRUFORMA™. The company stated that this would add to the company’s portfolio of assays also include those for testing adrenal and thyroid issues tests.

    Just Energy Group Inc [NYSE: JE]

    This is another pre-market top performer and is up by over 10%. This follows the company’s announcement that it only awaiting FERC approval to close its plan of arrangement deal. The deal includes a move to recapitalize to strengthen the company’s market positions.

     

  • 3 Top Performing Stocks to Watch This Morning: Biotech and Energy Stocks Lead the Way

    3 Top Performing Stocks to Watch This Morning: Biotech and Energy Stocks Lead the Way

    The key stock market indices are down today as the market awaits earnings news and the growing tensions between the U.S and China. Today, China has made a statement against the U.S decision to close the Chinese consulate in Houston, stating that it would take countermeasures against the move by the U.S. The flare-up of tensions between the two countries amidst an ongoing pandemic is reeling the markets. Nonetheless, there are stocks that are gaining strongly ahead of market opening. Most of the big movers pre-market are biotech and energy stocks. Some of the big movers at the moment are as below:

    Bionano Genomics Inc [NASDAQ:BNGO]

    Bionano Genomics Inc [BNGO] is a big mover pre-market and is up by 18% and gaining. BNGO stock has been gaining momentum driven by two recent developments on its biotech projects. Yesterday, Bionano Genomics Inc announced that an international consortium spearheaded by Laila El Khattabi of the Cochin Hospital in France had published a paper touching on the use of Bionano’s Saphyr Genome Imaging instrument. This was with regard to testing the performance of Bionano’s data when compared to the cytogenetic standard of care in the treatment of inherited genetic disorders. The team found that Bionano’s Saphyr was able to detect all; chromosomal aberrations in a total of 85 samples. The positive news came just a few days after BNGO announced that its data is a key part of the first-ever full assembly of a human being’s X-chromosome.  With such positive developments, the momentum around BNGO stock is on the rise even as the rest of the market looks shaky ahead of Mid-week trading.

    Zomedica Pharmaceuticals Corp [NYSE:ZOM]

    Zomedica Pharmaceuticals Corp [ZOM] is another top performer in pre-market trading and is up by 16% at the moment. This follows the ZOM announcement that it had successfully installed TRUFORMA™ remotely. This is a point-of-care diagnostic device that has allowed the company to go ahead with test validation. The  CEO has stated that ZOM is focused on making TRUFORMA™ available in the market soon.

    TransAtlantic Petroleum Ltd [NYSE:TAT]

    This is another top gainer ahead of market opening and is up by 78% pre-market. TransAtlantic Petroleum Ltd [TAT] has been on the rise since it reported financial results for Q1 of 2020. TransAtlantic Petroleum Ltd reported that revenues were down due to the decrease in oil prices. It also added that its hedge at the time was for an oil price of $36 a barrel. Like most energy prices, TAT stock has been buoyed by the increase in oil prices, and its current price action is among the best in the market. Its strong position is also driven by the fact that it was in good cash flow even during the time when oil was at its lowest.