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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 (Nasdaq: OSUR) has priced an underwritten public offering of 8,000,000 shares of common stock at $11.00 per share, expecting net proceeds of approximately $82.48 million. The offering will close on June 5, 2020, subject to customary conditions. The company intends to use the funds to expand manufacturing for COVID-19 testing products, pursue acquisitions, and cover general corporate expenses. An additional 1,200,000 shares may be purchased by underwriters within 30 days.
OraSure Technologies (Nasdaq: OSUR) announced an underwritten public offering of 8,000,000 shares of its common stock, with a potential additional 1,200,000 shares available to underwriters. The proceeds will be used to expand manufacturing for COVID-19 testing products, fund acquisitions, and support general corporate uses. The company’s ability to complete the offering is subject to market conditions. J.P. Morgan, Citigroup, and Evercore are the lead underwriters for this offering.
OraSure Technologies, a leader in point of care diagnostics, announced that Dr. Stephen S. Tang, Ph.D., President and CEO, will present at the Jefferies 2020 Healthcare Conference on June 2, 2020, at 3:00 PM EST. The event will be available for live streaming on OraSure's website, and a replay will be accessible for seven days post-event. OraSure Technologies focuses on providing accurate health information and offers a range of diagnostic products and services globally, aimed at improving health and wellness.
OraSure Technologies (NASDAQ: OSUR) announced that its OMNIgene®·ORAL saliva collection device (OM-505) received FDA Emergency Use Authorization (EUA) for at-home SARS-CoV-2 testing by P23 Labs. This device allows self-collection of saliva samples, enhancing testing accessibility for individuals unable to visit collection centers. This marks the second EUA for a DNA Genotek collection device, following the ORAcollect®·RNA kit’s EUA earlier in May. OraSure aims to boost COVID-19 testing while reducing infection risks and PPE demands.
Diversigen, a subsidiary of OraSure Technologies (NASDAQ: OSUR), has been selected by Nom Nom™, a pet health brand, as their preferred provider for microbiome sequencing and analysis services. This partnership aims to enhance pet health through personalized nutrition informed by microbiome data. Nom Nom has conducted significant research on pet gut health, including a major study analyzing 238 pets. Diversigen's expertise in metagenomics and bioinformatics will support this initiative, utilizing advanced sequencing solutions to deepen the understanding of pet health issues linked to the microbiome.
BETHLEHEM, Pa., May 15, 2020 (GLOBE NEWSWIRE) -- OraSure Technologies (NASDAQ: OSUR) announces that Dr. Stephen S. Tang, President and CEO, will present at the UBS Virtual Global Healthcare Conference on May 20, 2020, at 10:50 AM EST. The conference will be webcast live, and interested investors can access it via the company's website. A replay will be available for seven days post-event. OraSure provides crucial diagnostic tools and services globally, aiding in the detection of medical conditions. For more details, visit www.orasure.com.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced its 2020 Annual Meeting of Stockholders will be held virtually on May 19, 2020, at 10:00 a.m. EDT. Stockholders can access the live webcast via here. Participants need their control number to vote or ask questions. A replay of the meeting will be accessible within 24 hours and archived for seven days.
OraSure Technologies (NASDAQ: OSUR) has announced the unification of its microbiome service offerings under the Diversigen brand, combining its CoreBiome and Diversigen subsidiaries. This strategic rebranding aims to enhance service quality and innovation in the fast-growing microbiome industry, backed by over a century of combined scientific experience and extensive publication credentials. The move is expected to streamline service delivery and provide clients with advanced solutions for metagenomics, bioinformatics, and statistical analysis.
OraSure Technologies, Inc. (NASDAQ: OSUR) reported a net revenue increase of 5% to $31.6 million for Q1 2020, driven by a 9% growth in product and service revenues. International sales of OraQuick® HIV products surged 74%.
However, the company experienced a net loss of $7.3 million, compared to a loss of $3.3 million in Q1 2019. Cash and investments totaled $176.2 million as of March 31, 2020. Additionally, the pandemic prompted the withdrawal of full-year 2020 financial guidance due to uncertainty, despite potential opportunities in COVID-19 testing solutions.
OraSure Technologies (NASDAQ: OSUR) has announced the appointment of Lisa Nibauer as Executive Vice President, Business Unit Leader for Infectious Disease, succeeding Tony Zezzo, who will retire. Ms. Nibauer, effective May 11, 2020, brings extensive experience from BD Becton Dickinson, overseeing $1.6 billion in revenue. Zezzo, instrumental in commercializing key products like the OraQuick® HCV Rapid Antibody test, will assist in the transition. Additionally, Charles W. Patrick will retire from the Board of Directors on May 16, 2020, after a significant tenure since 2006.
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