And we’re seeing very good results from that aspect, but we want the vets to think about it beyond last use and go to first use. We are very excited about the American Association of Equine Practitioners Conference in San Diego this year. It’s the — starts November 30yj and ends December 2nd, it’s the largest equine conference of the year. And we have two of our veterinary doctors that will be presenting. And so there will be — Dr. Tom Yarbrough will be giving a presentation on — which is entitled modern Wild West navigating the new classes of joint therapies. And Dr. Joe Manning will be presenting on achievements in intra-articular therapies experiences and novel collagen hydrogel microparticle at CEHF. A lot of words there. So, we’re excited with the type of information and presentation.
So, we expect that to be a very good conference in adding a lot more equine practitioners and clinics to our network. We also plan to have some of our clinical data from Ethos and Innovex at the various trade shows coming up in the small animal side. In January, we have VMX, which is the Veterinary Medical Expo. It’s the largest conference for small animals in the United States, and that’s in Orlando. And then followed by that is the WBC Western Veterinary Conference in February in Las Vegas. That’s the largest show in the West Coast pretty much and then BOS, which is also in February. So, these three major shows were smaller animal with the data, and we talked about the white papers, for cats and dogs that will be published here will help provide a lot of ammunition for the sales team to call on the small animal veterinary doctors and — may feel really good from the New York show that I would say over 70% of the vets have heard about spring, and they’re happy to — when they’re called upon by the sales reps now wanting to learn more about it.
Finally, we’re going to be really pushing the social media awareness for the small animals. 55% of pet ownership is right now with the millennials and GenZ. And they’re the ones that are spending whatever it takes to provide an improvement in quality of life and better health care outcomes for the animals. So we feel with the distribution or that the clinics that we have in the majority of the states and the number of clinics, we can take this approach now to drive social media. And also, we’re able to convey the message to the pet owners that we’re able to provide a much more efficient cost structure and in the long run, it helps the pet owner reduce the cost of working with osteoarthritis and other health issues and that over time, they’re going to have better medical outcomes and savings because they don’t have the side effects of the various other products.
And with that, operator, I would like to open it up to Q&A.
Operator: With pleasure. Yes. [Operator Instructions] Any questions [Operator Instructions] Thank you.
John Lai: Since I don’t see any questions, this is John Lai. I’ll give a quick overview of the general market for the pet industry. So recent numbers, we’ve seen the pet industry are being put into many of the stocks that were COVID stocks — sorry, I think I do see a question. So I’ll answer the question before I talk about the industry.
Operator: Wonderful. From an anonymous attendee, what’s happening with the drastic stock drop?
John Lai: So that was part of my overview of the industry. So the pet industry has become out of favor, because if you look at the macro numbers, pre-COVID, there was 68% homeownership or pet ownership. And then after the COVID, it was 71% recently, we saw the number of pet ownership dropped to 66%. And if you look at the microcap stocks specifically in the pet industry, under $100 million in the last 60 days, we have seen on average of 35% decline within the veterinary — within the pet space. Now the difference here is other companies that are dropping are pretty much like me to companies. So if you look at Blue Diamond, the reduction of food sales went way down, and — well, I shouldn’t say I shouldn’t pick on that, but as the premium products have come down to mainstream products.
So they’re buying the arena — and so everybody is cutting expenditures down within the pet industry. So we’re kind of lumped in. And if you look at the stock that were part of the COVID stocks, they took 80%, 90% hits in their stock. If you’re looking at the pet industry, you’re seeing in the small caps pretty much the same type of action. Now, obviously, I think we’ve put into the long segment within there because our product is quite disruptive, and it’s actually saving the consumer money as well as providing better medical outcomes. And a lot of these studies are supporting that argument as well as Dr. Tammy Grubb he will review article talking about how our products should be looked at by veterinary doctors is first use and as alternatives to NSX, which is both of those segments are very large and a very large market potential for us.
