Quidel Stock Price, News & Analysis

Quidel Corporation (NASDAQ: QDEL) reported strong financial results for Q3 2021, with total revenues of $509.7 million, a 7% increase from Q3 2020. Sales of COVID-19 products rose to $402.6 million, while influenza product sales grew to $13.8 million. GAAP EPS was $5.08, down from $5.33 in 2020. The company resolved litigation with Beckman Coulter, expecting annual cash payments between $70 million and $75 million. Quidel secured a $500 million agreement with the U.S. government for COVID-19 tests, and received CE Mark for its Savanna platform.

Quidel Corporation (QDEL) has announced its sponsorship of the Distinguished Speaker Series by the Bay Area Lyme Foundation, aimed at enhancing public awareness and education about Lyme disease. The series features expert speakers discussing important topics related to Lyme disease. Quidel's Sofia® 2 Lyme FIA test offers rapid diagnostic results, providing vital information within 15 minutes. This initiative supports the rising number of Lyme disease cases expected to reach 476,000 in the U.S. by year-end, promoting easier diagnosis and treatment.

Quidel Corporation (NASDAQ: QDEL), a leader in rapid diagnostic testing, will announce its fiscal Q3 2021 financial results on November 4, 2021, post-market. A conference call will follow at 5:00 p.m. ET to discuss results and provide updates on business trends. Quidel is recognized for its innovative testing solutions, including the first FDA-cleared rapid tests for influenza and SARS-CoV-2. The company aims to enhance healthcare quality globally through its diverse product portfolio.

Quidel Corporation is hosting a free webinar titled "Pediatric Lyme Disease: An Epidemic Within a Pandemic!" on October 21. This event aims to raise awareness about Lyme disease's impact on children, who represent nearly 30% of the 476,000 annual U.S. cases. Medical expert Robert A. Dracker will discuss symptoms and testing, including the rapid Sofia® 2 Lyme FIA test, which provides results in 15 minutes. The webinar is tailored for pediatricians and healthcare professionals, emphasizing the necessity for vigilance against Lyme disease in children.

Quidel Corporation (NASDAQ: QDEL) announced preliminary third-quarter results for 2021, forecasting revenues between $505 million and $510 million, up 6-7% from $476.1 million in Q3 2020. The company shipped over 45 million SARS tests, a 135% increase year-over-year. COVID-19 revenue is expected around $406 million, compared to $375.7 million in Q3 2020. Notably, Quidel secured a 12-month contract for up to $284 million to supply QuickVue At-Home COVID-19 tests. Full financial results will be available in November.

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.