Quidel Stock Price, News & Analysis

Quidel Corporation (NASDAQ: QDEL) reported robust financial results for Q4 and the full year 2020, showcasing a 432% surge in revenue to $809.2 million compared to Q4 2019. COVID-19 product sales reached $678.7 million. The company reported a GAAP EPS of $10.78 and a non-GAAP EPS of $11.07, significantly up from $0.71 and $1.00 respectively in the prior year. For the full year, revenue climbed 211% to $1.66 billion, driven mainly by its COVID-19 diagnostic offerings. New product launches and a strong balance sheet position Quidel for growth into 2021.

Quidel Corporation (NASDAQ: QDEL) has announced the opening of a new manufacturing facility in Carlsbad, CA, dedicated to producing its QuickVue® line of products. This 128,000 square-foot plant will enhance production capacity from 50 million tests annually to 600 million tests per year, specifically for QuickVue® SARS rapid antigen tests used for COVID-19 detection. Approximately 400 new jobs will be created as the company aims to scale its operations effectively.

The QuickVue® SARS Antigen Test has received Emergency Use Authorization from the FDA, demonstrating high accuracy in detecting COVID-19.

Quidel Corporation (NASDAQ: QDEL) will announce its fiscal fourth quarter and full year 2020 financial results on February 18, 2021, after market close. CEO Douglas Bryant and CFO Randy Steward will host a conference call at 5:00 p.m. ET to discuss the results. Investors can join via telephone or webcast. The earnings call will disclose significant information regarding the company's financial developments and trends.

Quidel Corporation (NASDAQ: QDEL) announced that it expects revenue for Q4 2020 to be between $808 million and $810 million, a significant increase from $476 million in the previous quarter. This growth is attributed to heightened demand for COVID-19 diagnostic products, with open orders at the end of 2020 representing about 25% of total shipments for the year. Additionally, Quidel plans to significantly scale production from 13 million tests per month to over 70 million by the end of 2021. The company will present more detailed financial results in February 2021.

Quidel Corporation (NASDAQ: QDEL) has received Emergency Use Authorization (EUA) from the FDA for its Solana® SARS-CoV-2 Assay. This isothermal RT-HDA assay allows for qualitative detection of SARS-CoV-2 nucleic acid in nasopharyngeal and nasal swab specimens. Key advantages include a 25-minute run time for up to 11 samples, no sample extraction, and enhanced laboratory efficiency. The Solana instrument is user-friendly and designed for space efficiency. Quidel aims to meet the increasing demand for COVID-19 testing solutions with this innovative technology.

Quidel Corporation (NASDAQ: QDEL) has received Emergency Use Authorization (EUA) from the FDA for its QuickVue® SARS Antigen test, designed for rapid COVID-19 detection within five days of symptom onset. This test boasts a 96.6% positive and 99.3% negative predictive accuracy compared to PCR tests, providing results in just 10 minutes without the need for instrumentation. Quidel aims for a production rate of 600 million tests annually by end of 2021, enhancing access to affordable testing across diverse healthcare settings.

Quidel Corporation (NASDAQ: QDEL) announced that CEO Douglas Bryant has been named Executive of the Year in the MedTech Dive Awards for 2020. This recognition highlights Bryant's leadership in pivoting the company's focus to COVID-19 diagnostics during the pandemic. Quidel was the first to receive FDA Emergency Use Authorization for rapid antigen testing, achieving a performance rate of 96.7% PPA. The company doubled its production capacity to over two million tests per week and plans to triple it to six million tests thanks to rising demand.

Quidel Corporation (NASDAQ: QDEL) has announced its participation in two upcoming virtual conferences: the Canaccord Genuity Virtual MedTech & Diagnostics Forum on November 19, 2020, and the Piper Sandler 32nd Annual Virtual Healthcare Conference on December 2, 2020. Presentations by CEO Douglas Bryant and CFO Randy Steward will cover business and financial developments. Live webcasts of both events will be available on Quidel's Investor Relations website, with archives accessible for 30 days post-event.

Quidel Corporation has received three prestigious awards from the MarCom Awards competition, recognizing its creative excellence in marketing and communications. Notably, Quidel earned a Platinum Award for its consumer website, “Lyme Disease Answers,” which aims to educate the public about Lyme disease. Additionally, the company won a Gold Award for its upcoming series of educational videos titled “Quick Takes,” aimed at enhancing knowledge among healthcare professionals and consumers. Quidel's Sofia® 2 Lyme FIA test continues to lead in rapid Lyme disease testing, providing quick results to facilitate timely treatment.