Zomedica Pharmaceuticals Corp. Announces First Quarter 2017 Financial Results
“During the first quarter of 2017 we announced our fourth therapeutic product candidate and our first canine cancer diagnostic candidate, adding depth to our product pipeline,” stated Chairman and CEO
January 5, 2017, Zomedica announced a research collaboration agreement with Celsee Diagnostics, Inc.to test the feasibility of Celsee’s liquid biopsy technology for veterinary application as a canine cancer diagnostic.
January 17, 2017, Zomedica named Best Start-up 2016 for its product pipeline, equity funding, TSXV listing, and strategic personnel additions in 2016 by Animal Pharm, a provider of online services for animal health business intelligence, as part of their annual awards program.
January 30, 2017, Zomedica announced that it opened its fourth Investigational New Animal Drug (“INAD”) application with the FDA-CVM for ZM-011.
January 30, 2017, Zomedica disclosed that ZM-006 is a transdermal gel delivering its active pharmaceutical ingredient methimazole.
January 31, 2017, Zomedica launched its Voice of the Vet™ customer engagement program to leverage insights from the veterinary community to influence development of companion animal health solutions.
February 23, 2017, Zomedica announced that Robert W. DiMarzojoined the company as Executive Vice President of Global Strategy. Mr. DiMarzo brings more than 25 years of animal health leadership experience with industry leaders such as Pfizer Animal Health, now Zoetis.
April 10, 2017, Zomedica announced the closing of the second and final tranche of a previously announced non-brokered private placement offering, issuing 2,902,682 common shares at a price of CDN$1.50for aggregate gross proceeds of approximately CDN$4,354,025or $3,250,000.
April 24, 2017, Zomedica announced that it has filed a registration statement with the U.S. Securities and Exchange Commission on Form S-1relating to the resale or other disposition by selling shareholders of up to 76,625,742 of its common shares and will seek approval for listing on the NYSE MKT.
Summary First Quarter 2017 Results
Zomedica recorded net loss and comprehensive loss for the three months ended
For the three months ended
G&A expenses for the three months ended
Expenditures for R&D for the three months ended
The Company expects R&D expenditures in 2017 will be significantly higher than in 2016, due to the initiation of pilot and pivotal studies to support the opened INADs, as well as work related to additional veterinary pharmaceutical candidates, diagnostic developments and technologies.
Professional fees for the three months ended
Liquidity and Outstanding Share Capital
Zomedica had cash of
With U.S. operations based in
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Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. 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. 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. We cannot guarantee future results, performance or achievements. 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.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to future clinical trials, regulatory approvals, safety and efficacy of our products, the use of our product, intellectual property protection and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. 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. Readers are cautioned not to place undue reliance on forward-looking information.
Investor Relations Contact Shameze Rampertab, CPA, CA firstname.lastname@example.org +1 647.283.3630
Barry Mire, Renmark Financial Communications Inc.email@example.com +1 416.644.2020 or +1 514.939.3989 Media Contact Andrea Eberleaeberle@zomedica.com +1 734.369.2555