What happened Shares of Zomedica (NYSEMKT: ZOM) climbed on Tuesday, following the publication of its CEO's letter to shareholders. 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. So what 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. Zomedica's stock popped on Tuesday. Image source: Getty Images. Additionally, Cohen confirmed that the upcoming commercial launch of Zomedica's Truforma point-of-care diagnostic platform remains on track for March 30. Cohen touted the potential for Zomedica to implement a "razor and blades" strategy for Truforma, which could allow the company to enjoy a long-term stream of profits from the sale of assays, in addition to the upfront sales of its diagnostic systems. Now what Zomedica's recent stock price gains were reportedly aided by a scheme in which someone paid Carole Baskin, star of the popular Netflix show Tiger King, to speak positively about Zomedica in a video posted on social media. Yet, at least for today, investors appear to be overlooking these concerns -- instead choosing to focus more on the long-term profit potential of Truforma. 10 stocks we like better than Zomedica Pharmaceuticals Corp.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Zomedica Pharmaceuticals Corp. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Netflix. The Motley Fool has a disclosure policy.Source