VIVO - VIVO STOCK NEWS

On January 25, 2023, DoubleVerify Holdings (NYSE: DV) announced its addition to the S&P SmallCap 600 index, effective January 31, 2023. This change will see Meridian Bioscience (NASDAQ: VIVO) removed from the index, as it is currently being acquired by SD Biosensor. The acquisition is pending final conditions, suggesting a strategic shift in the market landscape. The index change highlights DoubleVerify's growth and significance within the Information Technology sector, while Meridian's removal signifies a substantial transition for the company involved.

Meridian Bioscience (NASDAQ: VIVO) announced a new closing date for its pending merger with SD Biosensor, Inc., now set for January 31, 2023. This decision follows a letter agreement whereby all conditions for the Merger are considered satisfied. The board believes this extension is in the best interest of shareholders, allowing Parent Parties additional time to finalize financing. Meridian's management remains focused on ongoing business operations despite potential distractions from the merger process.

Meridian Bioscience, Inc. (NASDAQ: VIVO) reported a 14% decrease in fourth-quarter net revenues to $65.7 million, while full fiscal year revenues rose 5% to $333.0 million. Diagnostics segment revenues increased by 14%, whereas Life Science revenues dropped by 37%. Operating income for Q4 fell to $4.6 million, with a margin of 7%. The company anticipates a merger with a Korean Consortium at $34.00 per share, expected to close by year-end. Cash from operations improved by 23% to $82.4 million, bolstering a cash balance of $81.5 million.

Meridian Bioscience (NASDAQ: VIVO) reported a 7% increase in consolidated net revenues for Q3 FY2022, totaling $67.8 million, compared to $63.5 million in Q3 FY2021. The Diagnostics segment achieved a record $42.4 million in revenues, a 36% year-over-year growth, while the Life Science segment saw a 22% decline to $25.4 million. The company faced an operating loss of $6.7 million, largely due to legal expenses and increased operating costs. The company has withdrawn its FY2022 financial guidance amid a pending merger.

Meridian Bioscience (NASDAQ: VIVO) announced the re-authorization of its Emergency Use Authorization (EUA) for the Revogene® SARS-CoV-2 molecular assay by the U.S. FDA. Expected to ship by the end of fiscal Q4 2022, the assay provides a 97.7% positive and negative predictive agreement. After initially delaying due to its inability to detect the Omicron variant, Meridian completed modifications and additional clinical studies, resulting in the FDA's re-authorization. The assay supports increased COVID-19 testing capacity across laboratories, addressing growing demands amidst new variants.

Meridian Bioscience (VIVO) has announced a definitive merger agreement with SD Biosensor and SJL Partners, valued at approximately $1.53 billion. Shareholders will receive $34.00 per share in cash, representing a 32% premium over the stock price prior to the offer. The transaction aims to enhance Meridian's value amid declining COVID-19 testing demand and is set to close in Q4 2022, pending shareholder approval and regulatory clearances. Post-transaction, Meridian will operate as an independent entity under the Consortium's ownership.

Meridian Bioscience, Inc. (NASDAQ: VIVO) announced preliminary results for Q3 fiscal 2022, projecting net revenues between $66 million and $69 million. The Diagnostics segment is expected to generate net revenues of $41 million to $43 million, while the Life Science segment is anticipated to contribute $25 million to $26 million. Immunological reagents represent 69% of Life Science sales, with molecular reagents accounting for 31%. Note that these figures are preliminary and subject to change as Meridian completes its financial statements.

Meridian Bioscience, Inc. (NASDAQ: VIVO) announced the launch of two innovative sample-specific master mixes: Lyo-Ready™ Direct DNA qPCR Stool Mix and Lyo-Ready™ Direct RNA/DNA qPCR Stool Mix on June 20, 2022. These master mixes enhance the molecular detection of DNA and RNA from crude fecal specimens while enabling room temperature stabilization of diagnostic assays. They simplify the development of gastrointestinal diagnostic tests, improving assay accuracy and sensitivity crucial for detecting cancers and other conditions, ultimately accelerating patient diagnosis.

Meridian Bioscience, Inc. (NASDAQ: VIVO) announced its inhibitor-tolerant qPCR master mixes are well-suited for developing diagnostic tests for monkeypox, a virus that has rapidly spread globally since May 2022. Over 250 monkeypox cases have been reported from 17 countries, prompting urgent testing needs. Meridian's master mixes enable accurate detection without further optimization, facilitating faster assay development. The company continues to focus on innovative solutions for diagnostic testing, enhancing assay accuracy and operational efficiency.