Quidel’s Antigen Tests Detect the Omicron Variant

Rhea-AI Summary

Quidel Corporation (NASDAQ: QDEL) reports its antigen tests, including QuickVue and Sofia, effectively detect the Omicron variant of COVID-19. CEO Douglas Bryant noted ongoing evaluations using live samples confirm prior findings from FDA RADx studies. Quidel is increasing production of its antigen tests to enhance community access. The company remains committed to monitoring COVID-19 variants to assure product efficacy. With over 40 years in diagnostics, Quidel continues to lead in rapid testing solutions.

Positive

• Quidel's antigen tests, including QuickVue and Sofia, detect the Omicron variant effectively.
• Increased production of COVID-19 antigen tests to improve community access.
• Ongoing commitment to evaluating product efficacy as COVID-19 evolves.

Negative

• None.

SAN DIEGO--(BUSINESS WIRE)-- Quidel Corporation (NASDAQ: QDEL) (“Quidel”), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, issued the following statement from Douglas Bryant, Quidel’s President and CEO, regarding Quidel’s ongoing efforts to evaluate COVID-19 mutations and confirm that its antigen tests continue to detect COVID-19 variants such as Omicron.

Mr. Bryant said:

“At Quidel, we continuously monitor the evolution and activity of COVID-19 variants in circulation, and the Omicron variant is no exception. Recent testing using live South African samples confirmed that our QuickVue® At-Home OTC COVID-19 Test and our Sofia® SARS Antigen FIA are detecting the SARS-CoV-2 Omicron variant.

On December 22, 2021, the Food and Drug Administration (FDA) indicated that data generated in preliminary RADx laboratory studies, with heat-inactivated Omicron samples, suggested that the QuickVue antigen tests are able to detect the Omicron variant with similar performance as with other variants. Additional testing has now been completed by the same laboratory using live virus. These data also suggest that the QuickVue antigen tests are able to detect the live Omicron variant with similar performance as with other variants.

Quidel has been, and will continue to be, vigilant in evaluating our assays with both genetic sequencing and real-world virus sample studies to assure customers of our products’ efficacy as the coronavirus evolves.

In the meantime, we continue to increase our weekly production of COVID-19 antigen tests in an effort to provide our communities with access to affordable COVID-19 testing. Quidel has risen to the challenge and we are proud to be at the forefront of the diagnostic industry’s response to the pandemic.”

About Quidel Corporation

Quidel Corporation (Nasdaq: QDEL) is a leading manufacturer of diagnostic solutions at the point of care, delivering a continuum of rapid testing technologies that further improve the quality of health care throughout the globe. An innovator for over 40 years in the medical device industry, Quidel pioneered the first FDA-cleared point-of-care test for influenza in 1999 and was the first to market a rapid SARS-CoV-2 antigen test in the U.S. Under trusted brand names Sofia®, Solana®, Lyra®, Triage® and QuickVue®, Quidel’s comprehensive product portfolio includes tests for a wide range of infectious diseases, cardiac and autoimmune biomarkers, as well as a host of products to detect COVID-19. With products made in America, Quidel’s mission is to provide patients with immediate and frequent access to highly accurate, affordable testing for the good of our families, our communities and the world. For more information about Quidel, visit quidel.com.

View our story told by our people at www.quidel.com/ourstory

Forward-looking Statements

This press release contains forward-looking statements that involve material risks, assumptions, and uncertainties. Forward-looking statements typically contain terms such as “may,” “will,” “should,” “might,” “expect,” “anticipate,” “estimate,” “plan,” “intend,” “goal,” “project,” “strategy,” “future,” and similar words. Various factors could cause our actual results and performance to differ materially from the forward-looking statements. Factors that could contribute to such differences include: impacts of the COVID-19 pandemic, including our products’ efficacy as the coronavirus evolves; competition; our development of new technologies, products, and markets; our reliance on sales of our COVID-19 and influenza diagnostic tests; our reliance on a limited number of key distributors; acceptance of our products among physicians, healthcare providers, or other customers; the impact of third-party reimbursement policies; our ability to meet demand for our products; interruptions in our supply of raw materials and other components; costs and disruptions from failures in our information technology and storage systems; international risks, including compliance with product registration requirements and legal requirements, tariffs, currency exchange fluctuations, reduced protection of intellectual property rights, and taxes; worldwide economic, political, and social uncertainty; our development, acquisition, and protection of proprietary technology rights; intellectual property risks and third-party claims of infringement; loss of our Emergency Use Authorization from the U.S. Food and Drug Administration for our COVID-19 products; failures or delays in receiving regulatory approvals, clearances, or authorizations, the loss of previously received approvals, or other adverse actions by regulatory authorities; performance, timing, funding and compliance risks relating to government contracts; product defects; compliance with government regulations relating to the handling, storage, and disposal of hazardous substances; our ability to identify and successfully acquire and integrate potential acquisition targets; our need for additional funds to finance our capital or operating needs; our pending acquisition of Ortho Clinical Diagnostics Holdings plc, including failure to complete the proposed transaction on the proposed terms or on the anticipated timeline, or at all, and other risks described in our periodic and other reports and registration statements filed with the Securities and Exchange Commission. Except as required by law, we undertake no obligation to update these forward-looking statements for revisions or changes after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211228005190/en/

Quidel Contact:

Quidel Corporation

Randy Steward

Chief Financial Officer

(858) 552-7931

Media and Investors Contact:

Quidel Corporation

Ruben Argueta

(858) 646-8023

rargueta@quidel.com

Source: Quidel Corporation

FAQ

How effective are Quidel's tests against the Omicron variant?

Quidel's QuickVue and Sofia tests effectively detect the Omicron variant, as confirmed by live sample testing.

When did the FDA provide data on Quidel's COVID-19 tests?

The FDA indicated effective detection of the Omicron variant by Quidel's QuickVue tests on December 22, 2021.

What is Quidel Corporation's stock symbol?

Quidel Corporation's stock symbol is QDEL, listed on NASDAQ.

What is Quidel's commitment regarding COVID-19 testing?

Quidel is committed to continuously monitor COVID-19 variants and ensure the efficacy of its tests.