Orasure Tech Stock Price, News & Analysis

OraSure Technologies collaborates with the Will Rodgers Liver Health Foundation to raise awareness about Hepatitis C (HCV) in the U.S. Approximately 2.4 million Americans have HCV, with over half unaware of their infection. The partnership aims to promote testing, as untreated HCV can lead to severe liver conditions. The OraQuick® HCV rapid antibody test, offering results in 20 minutes, is central to the initiative. This effort aligns with the foundation's mission to educate and support communities affected by liver disease, enhancing early diagnosis and treatment access.

OraSure Technologies has received Emergency Use Authorization (EUA) from the FDA for its InteliSwab™ COVID-19 Rapid Test. This rapid antigen test allows users to detect active COVID-19 infections easily and is available for Over-the-Counter (OTC) use. The testing process requires no special instruments, provides results in 30 minutes, and boasts strong clinical performance with 84% agreement on positive results versus PCR tests. OraSure aims to increase production capacity from 55 million to 70 million units annually by Q3 2021. However, it anticipates limited revenue from InteliSwab™ in Q2 2021 due to updating labeling requirements.

OraSure Technologies (NASDAQ: OSUR) will have its President and CEO, Dr. Stephen S. Tang, participate in a fireside chat at the Jefferies Virtual Healthcare Conference on June 4, 2021, at 10:30 AM EDT. The event will be available via live webcast, and a replay will be accessible for 14 days on the company's website. OraSure is a leader in diagnostic tests and specimen collection, providing end-to-end health solutions globally. For further details, visit www.orasure.com.

OraSure Technologies, Inc. (NASDAQ: OSUR) announced that Dr. Stephen S. Tang, President and CEO, will participate in a fireside chat at the UBS Global Healthcare Virtual Conference on May 26, 2021, at 2:00 PM EDT. The event will be webcast live, and a replay will be available for 14 days on OraSure's website. OraSure is known for its point-of-care diagnostic tests and specimen collection devices, playing a significant role in global health through its subsidiaries that offer a range of diagnostics and services.

OraSure Technologies, Inc. (NASDAQ: OSUR) has appointed Scott Gleason as the new Senior Vice President of Investor Relations and Corporate Communications. Gleason brings over 20 years of experience, including his previous role at Myriad Genetics, where he led investor relations and corporate strategy. His background also includes a tenure as a senior analyst at Stephens, Inc. and service as an Air Force aircraft maintenance officer. This leadership change is expected to enhance OraSure's ability to address health challenges globally, according to President and CEO Stephen S. Tang.

OraSure Technologies, Inc. (NASDAQ: OSUR) announced its 2021 Annual Meeting of Stockholders will take place virtually on May 18, 2021, at 10:00 a.m. Eastern. Stockholders can log in via www.virtualshareholdermeeting.com/OSUR2021 using their control number. A replay of the event will be available within 24 hours and archived for seven days. OraSure Technologies focuses on improving global health through diagnostics and sample collection solutions.

OraSure Technologies (NASDAQ: OSUR) has partnered with Insignia Federal Group and others to distribute 100,000 free HIV self-test kits through a CDC initiative. These OraQuick In-Home HIV Tests provide rapid results using an oral swab and help increase testing accessibility, especially in vulnerable communities. The program aims to combat the HIV epidemic by enabling individuals to know their status, with distribution beginning in 2021 and continuing until all kits are delivered. The venture aligns with the CDC's efforts to enhance testing rates among at-risk populations.

OraSure Technologies reported a robust first quarter of 2021, achieving net revenues of $58.6 million, up 85% year-over-year. This growth was significantly driven by $27.4 million from sales of COVID-19 molecular testing sample collection devices. The company has submitted an EUA application for its COVID-19 rapid antigen test for both home and professional use. The net income for the quarter stood at $3.8 million, marking a notable turnaround from a loss of $7.3 million in the previous year. Operating expenses rose to $27.9 million, but the company is poised for continued growth amid ongoing demand for COVID-19 testing products.

OraSure Technologies, Inc. (NASDAQ: OSUR) has scheduled its earnings conference call for the first quarter of 2021 on May 5, 2021, at 5:00 PM ET. The press release detailing financial results will be distributed at 4:01 PM ET the same day. Participants can join the call by dialing 844-831-3030 for domestic or 315-625-6887 for international calls, using Conference ID # 1349536. A webcast will also be available on the company's Investor Relations website. For those unable to attend the live call, a replay will be provided for 14 days.