VIVO - VIVO STOCK NEWS

Meridian Bioscience (NASDAQ: VIVO) reported preliminary revenue of approximately $63.5 million for Q3 fiscal 2021, falling short of expectations. This decline was mainly attributed to supply chain issues with LeadCare reagents and reduced demand for COVID-19 testing reagents. The company has yet to finalize its financial statements and will provide detailed results and any fiscal guidance adjustments during its earnings call on August 6, 2021.

Meridian Bioscience has re-submitted its Emergency Use Authorization (EUA) application to the FDA for its SARS-CoV-2 molecular diagnostic test on the Revogene platform. This follows the voluntary withdrawal of their previous application on February 22, 2021, to conduct further studies as advised by the FDA. The new application was re-submitted on June 25, 2021. Executive Vice President Tony Serafini-Lamanna expressed optimism regarding the FDA's forthcoming review of the Revogene SARS-CoV-2 assay.

Meridian Bioscience announced the launch of its Lyo-Ready™ RT-LAMP Mix, aimed at enhancing RNA virus detection. This product facilitates development of assays that can be stored at ambient temperatures, eliminating the need for cold storage. The RT-LAMP technology simplifies point-of-care testing, reducing costs and complexity. The newly formulated mix offers superior amplification sensitivity and specificity, catering to various applications, including human diagnostics and environmental testing. With COVID-19 testing needs, this innovation positions Meridian to meet market demands effectively.

Meridian Bioscience (NASDAQ: VIVO) announced participation in two investor conferences. CEO Jack Kenny will engage in a live chat at the 41^st Annual William Blair Growth Stock Conference on June 2, 2021, at 4:20 PM ET, and will also have a pre-recorded presentation for the Jefferies Virtual Healthcare Conference on June 4, 2021, at 2:00 PM ET. 1x1 meetings will be held by company executives during both events. Presentations can be accessed via the Investor Relations section on Meridian's website.

Meridian Bioscience has launched the Air-Dryable™ Direct DNA qPCR Plant Mix, a groundbreaking solution for agricultural biotechnology. This product allows multiplexed molecular field-tests without the need for DNA purification, significantly enhancing efficiency. With its unique polymerase and high 4x concentration, the Mix enables the development of stable assays at room temperature, reducing costs and manufacturing time. Dr. Lourdes Weltzien emphasized its potential to transform testing processes, allowing manufacturers to save time and improve performance in crop disease management.

Meridian Bioscience reported strong financial results for Q2 2021, with consolidated net revenues of $85.3 million, a notable increase of 49% year-over-year. The Life Science segment surged 139% year-over-year to $53.3 million, largely driven by COVID-19 products. However, Diagnostics segment revenues fell 9% year-over-year, despite a 5% increase from Q1 2021. Operating income rose significantly to $34.2 million with an adjusted operating margin of 38%. Guidance for FY2021 was adjusted, forecasting consolidated revenues between $305 million and $335 million.

Meridian Bioscience has launched the Lyo-Ready™ DNA LAMP Mix, aimed at enhancing the development of ambient temperature-stable LAMP assays. This product supports point-of-care molecular diagnostics and eliminates the need for thermocyclers, thereby reducing costs. Designed as a glycerol-free, 4x concentrated mix, it allows for faster development of room temperature stable assays with high sensitivity and specificity. The company continues to innovate in diagnostic testing solutions, responding to growing demands in the healthcare sector.

Meridian Bioscience (NASDAQ: VIVO) will release its second quarter fiscal 2021 financial results on May 7, 2021. CEO Jack Kenny and CFO Bryan Baldasare will conduct a conference call at 10:00 a.m. ET to discuss the results. Investors can dial in using the numbers provided for participation, with a replay available for 14 days post-call. Meridian Bioscience focuses on innovative diagnostic products and life science raw materials for various applications, serving over 70 countries globally.

On April 1, 2021, Meridian Bioscience announced a 510(k) submission to the FDA for its new Curian^® Campy assay, enhancing its gastrointestinal testing offerings. The assay detects Campylobacter spp. in human stool and aims to streamline testing processes with rapid, objective results. Meridian positions the Curian^® platform as a leading solution, reducing user variability in test interpretation. This move strengthens Meridian's role in the diagnostic testing market, essential for healthcare systems focusing on gastrointestinal diseases.