Welcome to our dedicated page for OraSure Technologies news (Ticker: OSUR), a resource for investors and traders seeking the latest updates and insights on OraSure Technologies stock.
OraSure Technologies Inc., based in Bethlehem, Pennsylvania, is a pioneering medical devices company specializing in the development, manufacture, and distribution of oral fluid diagnostic and collection devices. As a leader in this field, OraSure offers a range of products designed to detect or diagnose critical medical conditions. The company operates through two primary segments: Diagnostics and Molecular Solutions.
In the Diagnostics segment, OraSure produces rapid oral diagnostic tests and specimen collection devices for infectious diseases, such as HIV and HCV. Notable products include the OraQuick® In-Home HIV Test, OraQuick Advance® Rapid HIV-1/2 Antibody Test, and the OraSure® HIV-1 Oral Specimen Collection Device. Additionally, the company offers the OraQuick® HCV Rapid Antibody Test, and various oral fluid testing solutions for drug abuse, such as the Intercept® Oral Fluid Drug Testing System and the Q.E.D.® Saliva Alcohol Test.
The Molecular Solutions segment focuses on kits used to collect, stabilize, and transport genetic material samples for molecular testing. These kits are essential for diagnosing hereditary diseases and infectious diseases, including COVID-19. The molecular solutions segment is a significant revenue driver for OraSure, with a substantial portion of sales originating from customers in the United States.
Beyond diagnostics, OraSure also manufactures and sells cryosurgical products like Histofreezer®, used for the cryosurgical removal of common and plantar warts, along with other benign skin lesions. These products are available both for professional physician office markets and over-the-counter use.
Recently, OraSure has announced its third-quarter 2023 financial results and certain business developments. Notably, the regular earnings conference call is scheduled for November 7, 2023. This announcement signifies the company's commitment to transparency and continuous communication with its stakeholders.
OraSure Technologies, Inc. (NASDAQ: OSUR) is commemorating World AIDS Day on December 1st by ringing the NASDAQ closing bell in a virtual ceremony. CEO Stephen S. Tang emphasized the ongoing challenges posed by COVID-19 on HIV testing and treatment. The company is collaborating with the MTV Staying Alive Foundation on a video campaign and launching electronic vending machines for HIV self-test kits in Kenya. The OraQuick® HIV Self-Test remains a leader in rapid HIV diagnostics, with the first WHO-prequalified self-test in Sub-Saharan Africa.
OraSure Technologies (NASDAQ: OSUR) announced that Dr. Stephen S. Tang, President and CEO, will present at the Stephens Annual Investment Conference 2020 on November 19, 2020, at 8:00 AM EST. The event will be webcast live, allowing investors to tune in via OraSure’s website. A replay will be available for seven days post-event. OraSure Technologies specializes in point-of-care diagnostics and specimen collection, striving to enhance global health with innovative solutions.
OraSure Technologies (NASDAQ: OSUR) reported Q3 2020 revenues of $48.0 million, a 33% increase year-over-year, bolstered by $18.4 million in sales of oral fluid COVID-19 collection devices. The Molecular Solutions business unit achieved its highest revenue at $31.2 million, up 79% from last year. Despite growth, net income fell to $1.0 million or $0.01 per share, down from $13.1 million or $0.21 per share in Q3 2019. Fourth-quarter guidance anticipates net revenues between $55 million to $60 million.
OraSure Technologies announces that its subsidiary DNA Genotek received a second FDA Emergency Use Authorization (EUA) for the ORAcollect®·RNA saliva collection device. This device is authorized for at-home or healthcare setting use to collect saliva specimens suspected of containing SARS-CoV-2 RNA. The new EUA complements a previous authorization for the OMNIgene®·ORAL device. The company emphasizes the importance of non-invasive testing during the COVID-19 pandemic, stating that the collection method minimizes contact and PPE requirements.
OraSure Technologies, Inc. (NASDAQ: OSUR) will hold an earnings conference call on November 4, 2020, at 5:00 PM ET to discuss its third quarter financial results. A press release detailing the financial results will be issued at 4:01 PM ET on the same day. Participants can join the call by dialing 844-831-3030 (Domestic) or 315-625-6887 (International) with Conference ID # 9459222. The call will also be available via webcast on the company's Investor Relations page. A replay will be accessible for 14 days post-call.
OraSure Technologies (NASDAQ: OSUR) announced that its subsidiary DNA Genotek received Emergency Use Authorization (EUA) from the FDA for its OMNIgene®·ORAL saliva collection device for COVID-19 testing. This marks a significant milestone as it allows unsupervised at-home sample collection. The device has already been CE marked for use in the EU. The company is scaling up manufacturing to meet growing demand and has reported success in various testing programs across educational institutions and pharmacies. This development is crucial given the anticipated 2.4 billion annual tests needed in the U.S.
OraSure Technologies (NASDAQ: OSUR) announced that its ORAcollect®·RNA (OR-100) saliva collection device is included in the FDA Emergency Use Authorization for Quadrant Biosciences' COVID-19 test. This marks the sixth EUA for a collection device from OraSure’s DNA Genotek subsidiary, emphasizing its role in non-invasive COVID-19 testing. The Clarifi COVID-19 Test Kit, developed in collaboration with SUNY Upstate Medical University, will enable high-complexity labs to detect SARS-CoV-2. The device is crucial for increasing COVID-19 testing accessibility.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced that Dr. Stephen S. Tang, President and CEO, will speak at two upcoming investor conferences. The first event is the Citi Spotlight on Diagnostics in a COVID-19 Environment on September 1, 2020, where Dr. Tang will participate in a panel at 12:05 PM EDT. The second is Baird’s 2020 Global Healthcare Conference on September 10, 2020, at 12:50 PM EDT. Investors can access the presentations via OraSure's website, with a replay available for 14 days.
OraSure Technologies, Inc. (NASDAQ: OSUR) reported a net revenue of $29.3 million for Q2 2020, down 25% from Q2 2019, with a net loss of $10.5 million, or $0.16 per share. The decline is attributed to lower sales across various products due to the COVID-19 pandemic, despite $8.5 million generated from oral fluid collection devices for COVID-19 testing. The company ended June 2020 with $265.8 million in cash, bolstered by an equity offering. Future product launches include a COVID-19 rapid antigen self-test and an ELISA-based antibody test expected in Q4 2020.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced that its OMNIgene®·ORAL (OM-505) saliva collection device has received FDA Emergency Use Authorization (EUA) for COVID-19 testing, now included in Clinical Reference Laboratory's (CRL) CRL Rapid Response™ test. This marks the fourth EUA involving a device from OraSure's subsidiary, DNA Genotek. The OMNIgene·ORAL device allows for easier, self-collected saliva samples, improving safety and comfort compared to standard nasal swabs. The collaboration aims to enhance COVID-19 testing accessibility as businesses reopen.
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