Zomedica Pharmaceuticals Corp. Announces 2016 Year End Results
“In this first full year of operations we completed multiple financings, completed our public listing on the TSX Venture Exchange, built our team, and developed our product pipeline,” stated Chairman and CEO
May 10, 2016, Zomedica announced that it opened its first Investigational New Animal Drug (“INAD”) application with the U.S. Food and Drug Administration Center for Veterinary Medicine(“FDA-CVM”) for ZM-012, a novel tablet formulation of metronidazole, an anti-infective for the treatment of diarrhea in dogs.
July 12, 2016, Zomedica announced it opened an INAD application with the FDA-CVM for a novel formulation of ZM-006, a transdermal gel of methimazole, commonly used in veterinary medicine to treat hyperthyroidism in cats.
December 19, 2016, Zomedica announced it opened its third INAD application with the FDA-CVM for ZM-007, an oral suspension formulation of metronidazole for accurate dosing of small dog breeds and puppies.
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, Animal Pharm, a leading online business intelligence service for animal health and nutrition, awarded Zomedica its “Best Start-up 2016” award based on its product pipeline, equity funding, TSX-V listing and strategic personnel additions in 2016.
January 30, 2017, Zomedica announced that it opened its fourth INAD with the FDA-CVM for ZM-011, a transdermal gel of fluoxetine (Prozac®) commonly prescribed to treat behavioral disorders in cats such as inappropriate urination.
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.
Summary Full Year 2016 Results
Zomedica recorded net loss and comprehensive loss for the year ended
For the year ended
G&A expenses for the year ended
Expenditures for R&D for the year 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 additional veterinary pharmaceutical candidates, diagnostic developments and technologies.
Professional fees for the year 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.
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