Shares of Zomedica Pharmaceuticals Corp. (ZOM) has traded up 50.57% after it gains +0.04 on Monday. Previously, the drug manufacturing company has announced that it has decided to develop three new assays including Cobalamin, Canine Pancreatic Lipase, and Folate to treat the diagnosis of canine gastrointestinal problems with its development partner Qorvo Biotechnologies.

The company has revealed that if it is successful in its effort to make these three assays then this will be the first non-infectious gastrointestinal panel that facilitates the rapid diagnosis of gastrointestinal disorders. These three new assays are the addition to the initial five assays which are currently under development. These assays include the panel for adrenal and thyroid testing for TRUFORMA.

Zomedica earlier revealed that its proxy solicitor, Alliance Advisors, has mailed the letter to shareholders before the Annual and Special Virtual-Only Meeting of Shareholders. The meeting is scheduled to take place on September 25, 2020.

Zomedica Pharmaceuticals Corp. (AMEX: ZOM) shares were trading up 50.57% after it gains +0.04 on Monday. Zomedica Pharmaceuticals Corp. (ZOM) share price went from a low point around $0.07 to briefly over $0.50 in the past 52 weeks, though shares have since pulled back to $0.11. ZOM has remained high, hitting $55.80 million at the time of writing. If we look at its liquidity, it has a current ratio of 15.30.

The TRUFORMA diagnostic device is smaller than a desktop printer. This small device is expected to provide highly sensitive, species-specific assays using Qorvo’s proprietary, non-optical Bulk Acoustic Wave (BAW) sensor technology. The BAW sensor is a confirmed semiconductor technology used in telecommunications and aerospace markets.