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 has received Emergency Use Authorization (EUA) from the FDA for its InteliSwab™ COVID-19 Rapid Test. This rapid antigen test allows users to detect active COVID-19 infections easily and is available for Over-the-Counter (OTC) use. The testing process requires no special instruments, provides results in 30 minutes, and boasts strong clinical performance with 84% agreement on positive results versus PCR tests. OraSure aims to increase production capacity from 55 million to 70 million units annually by Q3 2021. However, it anticipates limited revenue from InteliSwab™ in Q2 2021 due to updating labeling requirements.
OraSure Technologies (NASDAQ: OSUR) will have its President and CEO, Dr. Stephen S. Tang, participate in a fireside chat at the Jefferies Virtual Healthcare Conference on June 4, 2021, at 10:30 AM EDT. The event will be available via live webcast, and a replay will be accessible for 14 days on the company's website. OraSure is a leader in diagnostic tests and specimen collection, providing end-to-end health solutions globally. For further details, visit www.orasure.com.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced that Dr. Stephen S. Tang, President and CEO, will participate in a fireside chat at the UBS Global Healthcare Virtual Conference on May 26, 2021, at 2:00 PM EDT. The event will be webcast live, and a replay will be available for 14 days on OraSure's website. OraSure is known for its point-of-care diagnostic tests and specimen collection devices, playing a significant role in global health through its subsidiaries that offer a range of diagnostics and services.
OraSure Technologies, Inc. (NASDAQ: OSUR) has appointed Scott Gleason as the new Senior Vice President of Investor Relations and Corporate Communications. Gleason brings over 20 years of experience, including his previous role at Myriad Genetics, where he led investor relations and corporate strategy. His background also includes a tenure as a senior analyst at Stephens, Inc. and service as an Air Force aircraft maintenance officer. This leadership change is expected to enhance OraSure's ability to address health challenges globally, according to President and CEO Stephen S. Tang.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced its 2021 Annual Meeting of Stockholders will take place virtually on May 18, 2021, at 10:00 a.m. Eastern. Stockholders can log in via www.virtualshareholdermeeting.com/OSUR2021 using their control number. A replay of the event will be available within 24 hours and archived for seven days. OraSure Technologies focuses on improving global health through diagnostics and sample collection solutions.
OraSure Technologies (NASDAQ: OSUR) has partnered with Insignia Federal Group and others to distribute 100,000 free HIV self-test kits through a CDC initiative. These OraQuick In-Home HIV Tests provide rapid results using an oral swab and help increase testing accessibility, especially in vulnerable communities. The program aims to combat the HIV epidemic by enabling individuals to know their status, with distribution beginning in 2021 and continuing until all kits are delivered. The venture aligns with the CDC's efforts to enhance testing rates among at-risk populations.
OraSure Technologies reported a robust first quarter of 2021, achieving net revenues of $58.6 million, up 85% year-over-year. This growth was significantly driven by $27.4 million from sales of COVID-19 molecular testing sample collection devices. The company has submitted an EUA application for its COVID-19 rapid antigen test for both home and professional use. The net income for the quarter stood at $3.8 million, marking a notable turnaround from a loss of $7.3 million in the previous year. Operating expenses rose to $27.9 million, but the company is poised for continued growth amid ongoing demand for COVID-19 testing products.
OraSure Technologies, Inc. (NASDAQ: OSUR) has scheduled its earnings conference call for the first quarter of 2021 on May 5, 2021, at 5:00 PM ET. The press release detailing financial results will be distributed at 4:01 PM ET the same day. Participants can join the call by dialing 844-831-3030 for domestic or 315-625-6887 for international calls, using Conference ID # 1349536. A webcast will also be available on the company's Investor Relations website. For those unable to attend the live call, a replay will be provided for 14 days.
OraSure Technologies, Inc. (NASDAQ: OSUR) reported 2020 net revenues of $171.7 million, an 11% increase year-over-year, driven by $49.8 million in sales of COVID-19 molecular testing devices. The fourth quarter net revenues rose 27% to $62.9 million, reflecting strong demand for molecular sample collection kits. The company is moving forward with Emergency Use Authorization (EUA) submissions for its COVID-19 Rapid Antigen Self-Test. In terms of profitability, fourth quarter net income was $1.9 million or $0.03 per share.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced that Dr. Stephen S. Tang, President and CEO, will present at the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021, at 10:00 AM EST. The presentation will be webcast live, allowing investors to tune in via the OraSure website. A replay will be available for 14 days post-event. OraSure provides point-of-care diagnostic tests and specimen collection solutions, aiming to enhance global health through accurate information.
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