Welcome to our dedicated page for Orasure Tech news (Ticker: OSUR), a resource for investors and traders seeking the latest updates and insights on Orasure Tech stock.
OraSure Technologies Inc. develops, manufactures and distributes point-of-need and home diagnostic tests, along with sample collection and stabilization products used in healthcare and research settings. Its portfolio includes rapid diagnostic tests and sample management solutions sold to clinical laboratories, hospitals, physicians' offices, clinics, public health and community organizations, research institutions, government agencies, pharmaceutical companies and consumers.
OraSure news commonly covers quarterly results, manufacturing efficiency, product regulatory updates, commercial launches, research and development priorities, and capital allocation. Company updates also address subsidiaries including DNA Genotek, Sherlock Biosciences and BioMedomics, products such as OraQuick HIV self-testing and Colli-Pee urine collection, and governance matters involving board composition and shareholder engagement.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced its 2020 Annual Meeting of Stockholders will be held virtually on May 19, 2020, at 10:00 a.m. EDT. Stockholders can access the live webcast via here. Participants need their control number to vote or ask questions. A replay of the meeting will be accessible within 24 hours and archived for seven days.
OraSure Technologies (NASDAQ: OSUR) has announced the unification of its microbiome service offerings under the Diversigen brand, combining its CoreBiome and Diversigen subsidiaries. This strategic rebranding aims to enhance service quality and innovation in the fast-growing microbiome industry, backed by over a century of combined scientific experience and extensive publication credentials. The move is expected to streamline service delivery and provide clients with advanced solutions for metagenomics, bioinformatics, and statistical analysis.
OraSure Technologies, Inc. (NASDAQ: OSUR) reported a net revenue increase of 5% to $31.6 million for Q1 2020, driven by a 9% growth in product and service revenues. International sales of OraQuick® HIV products surged 74%.
However, the company experienced a net loss of $7.3 million, compared to a loss of $3.3 million in Q1 2019. Cash and investments totaled $176.2 million as of March 31, 2020. Additionally, the pandemic prompted the withdrawal of full-year 2020 financial guidance due to uncertainty, despite potential opportunities in COVID-19 testing solutions.
OraSure Technologies (NASDAQ: OSUR) has announced the appointment of Lisa Nibauer as Executive Vice President, Business Unit Leader for Infectious Disease, succeeding Tony Zezzo, who will retire. Ms. Nibauer, effective May 11, 2020, brings extensive experience from BD Becton Dickinson, overseeing $1.6 billion in revenue. Zezzo, instrumental in commercializing key products like the OraQuick® HCV Rapid Antibody test, will assist in the transition. Additionally, Charles W. Patrick will retire from the Board of Directors on May 16, 2020, after a significant tenure since 2006.