Zomedica Pharmaceuticals Corp. Announces Second Quarter 2017 Financial Results
“We have been actively developing our product pipeline and investigating strategies for domestic and global commercialization,” stated Chairman and CEO
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 American (formerly NYSE MKT).
June 2, 2017, Zomedica announced that all ordinary and special resolutions were passed at the Annual and Special Meeting of Shareholders, with the following seven nominees re-elected as Directors of the Company: Gerald Solensky Jr., Shameze Rampertab, Jeffrey Rowe, James LeBar, Rodney Williams, Thomas Robitaille, and Jane Eagleson.
July 10, 2017, Zomedica announced that Bruk Herbsthas joined the Company as Chief Commercial Officer. Mr. Herbst brings more than 20 years of experience, including serving as Executive Senior Vice President of Sales and Marketing at i4C Innovations and Executive Senior Director and Head of U.S. Sales at IDEXX Laboratories.
July 28, 2017, Zomedica announced the first closing of a non-brokered private placement offering, issuing 1,502,691 common shares at a price of CDN$2.75for aggregate gross proceeds of approximately CDN$4,132,400or $3,320,000.
Summary Second 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 to be significantly higher than in 2016, due to the initiation of pilot and pivotal studies to support the opened Investigational New Animal Drug applications, 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 Media Contact
Andrea Eberleaeberle@zomedica.com +1 734.369.2555