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Jun 30, 2020
Zomedica Q2 2020 Earnings Report
Reported consolidated financial results, successfully managed the effect caused by the novel coronavirus pandemic, and significantly strengthened its balance sheet.
Key Takeaways
Zomedica reported a net loss of $5,307,990 for the second quarter of 2020. The company successfully managed the effects of the coronavirus pandemic and strengthened its balance sheet, while continuing the development and testing of its TRUFORMA™ platform.
Zomedica recorded net loss and comprehensive loss for the three months ended June 30, 2020 of $5,307,990, or $0.02 per share.
Research and development expense for the three months ended June 30, 2020 was $3,908,171, an increase of $ 2,846,664 or 268%.
General and administrative expense for the three months ended June 30, 2020 was $988,734, an increase of $87,415 or 10%.
As of June 30, 2020, Zomedica had cash of $29,103,049.