ANN ARBOR, Mich., April 13, 2020 (GLOBE NEWSWIRE) -- Zomedica Pharmaceuticals Corp. (NYSE American: ZOM) (“Zomedica” or the “Company”), a veterinary diagnostic company, today announced that, on April 7, 2020, the Company filed with the United States Securities and Exchange Commission (the “SEC”) a Current Report on Form 8-K (the “Covid 19 Form 8-K”) providing an update on the effect of the novel coronavirus pandemic on its operations. In our Annual Report, we stated our expectations with respect to the timing of development and commercialization of our TRUFORMA™ platform. The Covid 19 Form 8-K provides disclosure of the impact of the pandemic on the expected timing, and indicates that we will not be able to achieve the timeframes we had previously anticipated. The Covid 19 Form 8-K also supplements the risk factors disclosed in the Annual Report, to add three new risk factors related to the pandemic. Reference is made to the Covid 19 Form 8-K for additional information.
The Company also today announce that, as disclosed in its Current Report on Form 8-K filed with the SEC on April 13, 2020 (the “NYSEA Form 8-K”), it has received formal notice from the NYSE American it is not in compliance with the NYSE American continued listing standard set forth in section 1003(f)(v) of the NYSE American Company Guide because its common shares have been selling for a substantial period of time at a low price per share. As disclosed in the NYSEA Form 8-K, the Company intends to regain compliance with the NYSE American’s continued listing standards by undertaking a measure or measures that are for the best interests of the Company and its shareholders.
In our Annual Report on Form 10-K for the year ended December 31, 2019, filed on SEDAR on February 26, 2020 (the “Annual Report”), we included risk factors with respect to our business and operations. The NYSEA Form 8-K also adds an additional risk factor related to the above notice received from the NYSE American.
The Company’s receipt of the notice from the NYSE American does not affect the Company’s business, operations or reporting requirements with the SEC. Reference is made to the NYSEA Form 8-K for additional information.
The Covid 19 Form 8-K and the NYSEA Form 8-K have been filed with SEC and are available on the SEC’s EDGAR system at https://www.sec.gov/edgar/searchedgar/companysearch.html, They have also been filed under our profile on SEDAR at www.sedar.com.
About Zomedica
Based in Ann Arbor, Michigan, Zomedica (NYSE American:ZOM) is a veterinary diagnostic company creating products for companion animals (canine, feline and equine) by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include novel diagnostics and innovative therapeutics that emphasize patient health and practice health. With a team that includes clinical veterinary professionals, it is Zomedica’s mission to give veterinarians the opportunity to lower costs, increase productivity, and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.
Forward-Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" or “forward-looking statements” (collectively, “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 and include statements relating to Zomedica’s expectations regarding the public offering. 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: market conditions, the completion of the public offering, the risk that the public offering will not be consummated, the satisfaction of customary closing conditions related to the public offering and the intended use of net proceeds from the public offering, as well as uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and pilot and pivotal studies, uncertainty as to the likelihood and timing of regulatory approvals, availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products; competition from related products; 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, risks related to our ability to implement measures to regain compliance with the NYSE American listing standards, risks related to the novel coronavirus disease 2019 (“COVID-19”) and its impact upon Zomedica’s business operations generally, including Zomedica’s ability to develop its diagnostic and therapeutic products, and the other risk factors disclosed in our filings with the SEC and 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.
Investor Relations Contact
PCG Advisory Group
Kirin Smith, COO
ksmith@pcgadvisory.com
+1 646.863.6519
www.pcgadvisory.com
