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Mar 31, 2020
Zomedica Q1 2020 Earnings Report
Zomedica's financial performance was reported for Q1 2020, showing a reduced net loss and decreased expenses in R&D, general, and administrative areas.
Key Takeaways
Zomedica reported a net loss of $2.45 million, a significant decrease from the $11.68 million loss in the same period last year. The company saw reductions in research and development, general and administrative, and professional fees, while cash and cash equivalents increased due to financing activities.
Net loss decreased to $2.45 million from $11.68 million year-over-year.
Research and development expenses significantly reduced by 92% due to lower milestone payments.
General and administrative expenses decreased by 61% due to a reduction in share-based compensation.
Cash and cash equivalents increased to $1.49 million from $0.51 million at the end of the previous year.