QuidelOrtho Corporation - QDEL STOCK NEWS

Quidel Corporation has launched a new 90-minute webinar to address Lyme disease, the fastest-growing vector-borne illness in the U.S. The webinar discusses novel drug development for Lyme disease and the current antibiotics used in treatment. It highlights Quidel's Sofia® 2 Lyme FIA, the only FDA-cleared rapid test for Lyme, providing results in as little as three minutes. With around 476,000 new cases of Lyme disease reported annually, the webinar aims to educate about early detection and treatment options.

QuidelOrtho Corporation (NASDAQ: QDEL) will participate in the Morgan Stanley 20th Annual Global Healthcare Conference on September 12, 2022, with a fireside chat at 4:50 p.m. ET. Interested parties can access the live webcast on the Investor Relations page of QuidelOrtho’s website. QuidelOrtho, a leading provider in in vitro diagnostics, combines the capabilities of Quidel Corporation and Ortho Clinical Diagnostics to enhance patient outcomes through innovative diagnostic technologies.

Quidel Corporation has announced a multi-year partnership with the Los Angeles Rams, designating its QuickVue at-home rapid antigen test as the "Official At-Home COVID Test of the Los Angeles Rams." This partnership aims to promote health awareness and COVID-19 testing in the Los Angeles area, featuring various promotions and stadium activities. Quidel's QuickVue test is highlighted for its accessibility, with results in just 10 minutes, emphasizing the importance of at-home COVID-19 testing.

The National Institutes of Health reports that bacterial biofilms cause up to 75% of infectious diseases. Quidel Corporation addresses this through a new webinar on the formation and implications of biofilms, including links to Lyme disease. Dr. Cezar M. Khursigara leads the session, highlighting the critical role of early detection using Quidel's Sofia® 2 Lyme FIA test, the only FDA-cleared rapid test with results in 15 minutes. The webinar is part of Quidel's ongoing efforts to educate health professionals on Lyme disease and its increasing prevalence.

QuidelOrtho Corporation (NASDAQ: QDEL) announced a $300 million share repurchase authorization over the next two years, signaling confidence in its financial stability and long-term growth strategy. This initiative aims to return capital to shareholders while also focusing on investments in R&D, manufacturing capacity, and debt reduction. CEO Douglas Bryant highlighted the synergies from recent integrations and the company's strong recurring revenue base. The share buyback is discretionary and may be adjusted based on market conditions.

QuidelOrtho Corporation (Nasdaq: QDEL) reported a total revenue of $613.4 million for Q2 2022, a 247% increase from $176.6 million in Q2 2021, primarily due to a business combination completed on May 27, 2022. Supplemental combined revenue reached $898.5 million, up 37.5% in constant currency. GAAP EPS decreased to $0.36, while adjusted EPS rose to $2.12, reflecting a 123% increase. Operating income improved to $79.7 million, with a GAAP operating margin of 13%.

The company anticipates continued growth and integration synergies.

QuidelOrtho Corporation (NASDAQ: QDEL) will report its second quarter 2022 financial results on August 4, 2022, after market close. A conference call to discuss the results will take place at 2:00 p.m. PDT / 5:00 p.m. EDT, accessible via the Investor Relations section of QuidelOrtho's website or by phone at 844-200-6205 (domestic) or 929-526-1599 (international) with Conference ID 525922. A replay will be available on their website shortly after the call.

QuidelOrtho Corporation (NASDAQ: QDEL) announces a three-year commitment of $750,000 to support the American Heart Association in improving health and addressing inequities in San Diego. This initiative aims to tackle cardiovascular disease, the leading cause of death in the U.S., and engage local communities through various health campaigns. The collaboration emphasizes the importance of prevention and awareness, focusing on campaigns like Live Fierce and Go Red for Women, ultimately striving for a healthier community.