Why Zomedica Stock Jumped Today
As of 2:50 p.m. EST, the veterinary health company's stock price was up 12% after rising as much as 23% earlier in the day. CEO Robert Cohen said Zomedica bolstered its cash reserves by over $40 million, as investors chose to exercise their warrants following its recent stock price gains. In total, Zomedica now has more than $90 million in cash on its balance sheet, which Cohen said would be enough to fund its operating costs through 2023, at which point he expects the company to be generating positive cash flow.
