Shares of veterinary health solutions provider Zomedica (NYSE:ZOM) are surging in the pre-market session today after ZOM announced it is undertaking a strategic restructuring of its present development and commercialization agreements with Qorvo Biotechnologies for the Truforma product line.
ZOM shares have been on a tear over the past two weeks and have gained nearly 82% so far this month. Moreover, the average analyst price target of $6 points to a massive 1952% further upside in the stock.
The move gives ZOM control over Truforma and the ability to bring more number of assays to market while also lowering costs. Additionally, once the company begins manufacturing, margins are expected to improve as well.
The complete transfer of manufacturing from Qorvo is anticipated to take about 18 months. Further, ZOM has also expanded its relationship with Structured Monitoring Products and will initiate the commercialization of the VetGuardian remote monitoring systems as well.
Notably, VetGuardian is the first and only system that offers continuous monitoring of pets’ vital signs.
Read full Disclosure
