Shares of animal health platform Zomedica Corp. (AMEX: ZOM) received a positive boost yesterday, driven by a recent quarterly report showing revenue growth of 14% and the announcement of a new remote update feature for a key platform.
Zomedica has introduced remote update functionality for its TRUFORMA diagnostic platform. This platform is a desktop device for sample analysis, as well as associated software and consumables.
This is a very easy-to-use system: just apply a biological sample to a special cartridge, insert the cartridge into the device, and the results are ready in 20 minutes. Simplicity and speed are extremely important, since in veterinary medicine there is no way to interview a patient, and it is often necessary to do preventive tests, for example, for farm animals. Speed is also important in veterinary clinics – to be able to receive more clients during the working day.
Software plays a critical role in TRUFORMA because the platform uses bulk acoustic wave (BAW) technology to analyze samples rather than more complex optical fluorescence technology. But BAW is critical to correctly calculate the RF output signal and compare the results to reference parameters for a given substance in the samples.
Through remote updates, Zomedica can improve the accuracy and expand the functionality of TRUFORMA. This creates additional value for TRUFORMA users and may attract new customers.
The updates will be delivered via the myZomedica cloud platform and Zomedica’s IoT platform. The company has other solutions in this ecosystem, including the original remote animal health monitoring system that Zomedica recently launched in Europe.
ZOM shares traded at $0.169 in May, with a market cap of $165.81 million
