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Stock Alert: Zomedica Pharma Shares Jumped 37% In After-Hours Session

Shares of Zomedica Pharmaceuticals Corp. (ZOM) have been trading between $0.11 and $0.49 for the past one year, and closed Thursday's trade at $0.27, up 7 cents or 35.41%. The stock, further, gained 10 cents or 37.04% in the extended trading session.

On May 7, Qorvo (QRVO) announced achievement of a key milestone in the development of a veterinary point-of-care or POC diagnostic platform for Zomedica Pharmaceuticals Corp. (ZOM).

Zomedica, recently, announced that its TRUFORMA POC platform, based on Qorvo's acoustic resonators, and first assay have completed final verification. This is a critical milestone to enabling commercial manufacturing production capabilities, the company said.

Qorvo Biotechnologies LLC, a wholly owned subsidiary of Qorvo US, Inc., signed a development and supply agreement in 2018 with Zomedica for its POC platform to be tested for veterinary use. Under the agreement, Qorvo is responsible for developing the POC diagnostic instrument and related assay cartridges, while Zomedica is responsible for the validation, marketing and sale of the assays, instruments and related assay cartridges.

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