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VivoPower PLC reports company developments tied to its AI data center infrastructure, Power-to-X platform and powered land assets. Recurring announcements cover data center asset activity, reserve-market demand response at the Mo i Rana, Norway site, conference presentations and updates on the company's sovereign AI compute infrastructure strategy.
Company news also covers capital-structure actions, including share conversion matters and registration-statement changes, as well as governance and advisory council updates, material agreements, shareholder voting matters, operating results and financial results.
CINCINNATI, Aug. 2, 2021 - Meridian Bioscience announced the acquisition of the North American BreathTek® business from Otsuka America Pharmaceutical, effective July 31, 2021. This strategic move aims to enhance Meridian's diagnostic testing solutions and strengthen its market position. Financial impacts related to the acquisition will be discussed in the upcoming quarterly earnings call on August 6, 2021. Meridian is a global leader in diagnostic solutions, trading under the NASDAQ symbol VIVO.
Meridian Bioscience announced the acquisition of North America's BreathTek® business from Otsuka America Pharmaceutical for $20 million in cash, expected to close in the fiscal fourth quarter. This acquisition will provide Meridian with customer relationships for the urea breath test used to detect Helicobacter pylori, adding over $20 million to annual revenue. The CEO stated that this move leverages pandemic-generated cash to enhance Meridian's diagnostics segment, contributing to immediate earnings and cash growth.
Meridian Bioscience, Inc. (NASDAQ: VIVO) announced it will release its third quarter fiscal 2021 financial results on August 6, 2021. A conference call with CEO Jack Kenny and CFO Bryan Baldasare is scheduled at 10:00 a.m. ET to discuss the results. Participants can join the call by dialing the appropriate numbers based on their location. A replay of the call will be available for 14 days after the event. Meridian specializes in diagnostic testing solutions and life science raw materials, providing critical products across various sectors globally.
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 41st 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.