Zomedica Corp (NYSEAMERICAN: ZOM) stock went down 31% in the past month, but it still had an 80% increase this year. TRUFORMA is the company's flagship product, but its revenue for the next quarter is still unpredictable. Perhaps it is not a time to make any decisions about this stock.
TRUFORMA has five initial assays to test for adrenal and thyroid disorders, which three of them currently are available. Zomedica will be focused on encouraging veterinarians to install the product after the completion of the other two assays by its development partner. All of assays are expected to be available for commercial sale in early December. So, investors still have to wait for a while.
Zomedica said that it will have fifteen direct sales representatives for TRUFORMA by the end of 2021. In addition, the company had more than $250 million in cash and cash equivalents that are used for advancing its commercialization of TRUFORMA. Therefore, this is still a penny stock that investors should consider watching closely.
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