Quidel Stock Price, News & Analysis

Quidel Corporation (NASDAQ: QDEL) reported a remarkable 115% revenue increase to $375.3 million for Q1 2021, driven largely by COVID-19 related products, which generated $280.3 million. Net income surged by 340% to $178.1 million, translating to GAAP EPS of $4.09 per diluted share. Sales of Influenza products dropped to $5.2 million from $79.6 million year-on-year. The company received FDA EUAs for QuickVue® At-Home COVID-19 Tests, enhancing its portfolio for at-home testing. Gross profit rose 163% to $302.0 million.

Quidel Corporation (NASDAQ: QDEL) has partnered with Walgreens to distribute its QuickVue® At-Home OTC COVID-19 Test at 7,600 Walgreens stores across the U.S. and Puerto Rico. This collaboration enables consumers to purchase the test over-the-counter, enhancing accessibility. Each kit includes two tests and delivers results within 10 minutes, boasting an agreement rate of 83.5% for positive results with PCR tests. The QuickVue test is authorized under FDA's Emergency Use Authorization, vital in controlling COVID-19 spread.

Quidel Corporation (NASDAQ: QDEL) announced its participation in the virtual BofA Securities 2021 Health Care Conference on May 13, 2021. CEO Douglas Bryant and CFO Randy Steward will present at 2:00 p.m. ET, detailing business and financial trends. The presentation will include previously undisclosed material information. A live webcast and audio archive will be accessible via the Investor Relations section of Quidel’s website, with replays available for 14 days. Quidel is known for its rapid diagnostic testing solutions and innovative healthcare technologies.

Quidel is hosting a free webinar on May 5 to help healthcare providers differentiate between Lyme disease, COVID-19, and the flu. With Lyme disease affecting up to 400,000 Americans annually, accurate diagnosis is crucial, especially during peak tick season. Dr. Sean McCloy will lead the session, discussing the similarities in symptoms and highlighting the Sofia® 2 Lyme FIA test, which provides results in 15 minutes. This test enhances timely treatment, allowing physicians to act quickly based on patient needs.

Quidel Corporation (NASDAQ: QDEL) will announce its fiscal Q1 2021 financial results on May 6, 2021, after market close. CEO Douglas Bryant and CFO Randy Steward will host a conference call at 5:00 PM ET to discuss the results, business developments, and address questions. The company emphasizes that the call may include material undisclosed information. A live webcast will be available on their website, with replays accessible for one year and telephone replays for 14 days starting after the call.

Quidel Corporation (NASDAQ: QDEL) has finalized a distribution agreement with McKesson Corporation to enhance access to its QuickVue® At-Home OTC COVID-19 Test. This partnership aims to expedite the rollout to various markets, including schools and businesses. McKesson will leverage its retail and e-commerce platforms to facilitate the product's distribution. The QuickVue Test, authorized by the FDA, provides results in under 10 minutes and boasts high accuracy, agreeing with PCR results 83.5% of the time. Shipping is set to commence soon.

Quidel Corporation (QDEL) announced preliminary results for Q1 2021, projecting revenues between $374 million and $376 million, marking a 114% increase from $174.7 million in Q1 2020. COVID-19 test revenues are expected to exceed $280 million, a significant rise from $1 million last year. Despite strong performance in SARS tests, influenza product sales dropped to $5 million from $79.6 million due to an uncharacteristically low respiratory season. Gross margins are estimated at 80%, with earnings growth exceeding 300%. Further details are anticipated in their earnings call on May 6, 2021.

Quidel Corporation has partnered with the Bay Area Lyme Foundation to raise public awareness about Lyme disease, which affects up to 400,000 Americans annually. The collaboration includes sponsoring a series of free speaker forums focused on Lyme disease research and prevention. The first forum will take place on May 19, addressing herbal treatments for tick-borne diseases. Additionally, Quidel will support BAL’s Emerging Leader Awards and the annual LymeAid Gala, aimed at promoting research innovation. Quidel's Sofia® 2 Lyme FIA test provides rapid, accurate results, significantly improving early diagnosis.

As Lyme disease season approaches, Quidel Corporation emphasizes the importance of awareness and testing. Up to 400,000 Americans are infected annually, with symptoms often mimicking COVID-19. Dr. Judi Tilghman advises outdoor enthusiasts to take precautionary measures against ticks and seek immediate testing if symptoms arise.

Quidel’s Sofia® 2 Lyme test offers rapid results, aiding timely diagnosis and treatment. The company's mission focuses on providing accessible, accurate health diagnostics, enhancing patient care across diverse health conditions.