Quidel Stock Price, News & Analysis

Quidel Corporation (NASDAQ: QDEL) announces the launch of its QuickVue® At-Home OTC COVID-19 rapid antigen test, now available without a prescription at over 7,000 CVS Pharmacy locations and online. This move addresses the surge in demand for rapid testing amidst the ongoing COVID-19 pandemic, particularly due to the Delta variant. The test, allowing for self-administration with results in 10 minutes, shows a positive agreement rate of 83.5% with PCR tests. Quidel is on track to achieve a monthly production target of 70 million tests by year-end, highlighting its commitment to improve testing access.

Olivia Goodreau, founder of the LivLyme Foundation, will share her Lyme disease journey in a webinar on August 19. Sponsored by Quidel, the session emphasizes early testing and features the Sofia® 2 Lyme FIA, which delivers results in 15 minutes. Goodreau's foundation has funded research and provided 54 grants to help those affected by Lyme disease. The webinar aims to raise awareness with expected attendance from healthcare professionals and researchers. Quidel, a leader in diagnostic solutions, supports initiatives to improve healthcare quality globally.

Quidel Corporation (NASDAQ: QDEL) reported a 12% decline in total revenue for Q2 2021, falling to $176.6 million compared to $201.8 million in Q2 2020. COVID-19 product sales decreased to $83.4 million, down from $109.0 million, while influenza product sales plummeted to $1.6 million. GAAP EPS was $0.45, significantly lower than $1.55 in the prior year. Despite challenges, core business revenue grew 24% to $91.5 million, driven by strong performance in Cardiometabolic Immunoassays. The Sofia® SARS Antigen test received Emergency Use Authorization for screening, supporting potential growth.

Quidel Corporation (NASDAQ: QDEL) has announced a new agreement with Beckman Coulter that resolves ongoing litigation and transitions the BNP Business to Beckman Coulter. This deal guarantees Quidel cash payments of between $70 million and $75 million annually until 2029. The arrangement also allows Quidel to focus on its core businesses while ensuring a stable cash flow. Notably, Quidel will stop offering its BNP assay, as Beckman Coulter will introduce its branded product, completing the transition by the end of 2021.

Quidel Corporation (NASDAQ: QDEL) has partnered with the State of Delaware to launch a comprehensive COVID-19 testing program aimed at K-12 schools, facilitating their reopening in the fall. Under this initiative, Quidel will manage staffing, sample collection, testing, and reporting results to the Delaware Division of Public Health. The program will begin at five pilot schools for summer sessions, with potential expansion statewide. Governor Carney emphasizes the importance of this program for student safety and in-person learning.

Quidel Corporation (NASDAQ: QDEL) will announce its fiscal second quarter 2021 financial results on August 5, 2021, after market close. CEO Douglas Bryant and CFO Randy Steward will conduct a conference call at 5:00 p.m. ET to discuss the results and answer questions. The company’s recent innovations in rapid diagnostic testing, particularly for COVID-19, underline its role in enhancing healthcare quality. Access to the live call and subsequent replays is available via their website and specific links provided in the release.

Quidel Corporation (NASDAQ: QDEL) has received the CE Mark for its Savanna® multiplex molecular analyzer and Savanna® RVP4 Assay, allowing sales in Europe and other accepting countries. The Savanna system can analyze up to 12 pathogens in under 30 minutes using real-time PCR tests. The initial RVP4 Assay detects multiple respiratory viruses, including SARS-CoV-2 and influenza strains. CEO Douglas Bryant emphasized the importance of this CE Mark for commercialization, with plans to deploy instruments to international customers to support broader U.S. launch efforts.

Quidel Corporation has launched LymeDiseaseAnswers.com, a resource aimed at educating the public about Lyme disease, which affects nearly 480,000 Americans annually. The website offers information on the prevalence, causes, and symptoms of Lyme disease, as well as the latest testing advances. It features FAQs, infographics, and educational videos. Quidel is known for the Sofia 2 Lyme FIA test, delivering results within minutes. The site has already won the Platinum Award at the MarCom Awards, recognizing its excellence in marketing.

Quidel Corporation has launched a public service campaign to raise awareness about Lyme disease among summer camps as they reopen after two years. The campaign includes educational materials and social media outreach aimed at prevention and early detection. Lyme disease affects about 476,000 Americans annually, often leading to serious complications if not treated promptly. Quidel offers the Sofia® 2 Lyme FIA, a rapid, on-site test delivering results in 15 minutes, enhancing early treatment options. This initiative comes as camps open, reflecting a gradual return to normalcy post-pandemic.