Zomedica Corp (ZOM) Stock Plunges Below 50 Cents: Time To Panic?

On Wednesday, Zomedica Corp (NYSEAMERICAN:ZOM) announced its financial results for the second fiscal quarter but it seems that the market is not impressed by its performance and the stock has already declined by as much as 13% during the premarket trading period to $0.49.

The veterinary health firm, which is known for its point of care diagnostics solutions for pets, suffered a loss of $4.6 million during the quarter, which worked out to $.005 a share. In addition to that, the company also announced its financial results for the half year ended on the same date and during that period, the losses came in at $8.7 million, which worked out to losses of $0.01 per share.

It should be noted that in the prior year period, Zomedica had suffered a loss of $5.3 million and that reflects a rise of net income by as much as $0.6 million. On the other hand, the company posted revenues of $15693 in the second quarter and $29817 in the half year. The revenues were primarily made up from the sale of Zomedica’s proprietary pet diagnostic platform Truforma and related warranties. Shareholders in the company will now be hoping for a recovery in the stock over the coming days.