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Meridian Bioscience reported strong Q1 2021 results, with net revenues at $92.9 million, a 96% increase year-over-year. The Life Science segment soared, generating $62.6 million in revenues, up 396%. However, the Diagnostics segment faced a 13% decline to $30.3 million despite a 2% recovery from Q4 2020. The company secured a NIH RADx grant for its Revogene® SARS-CoV-2 assay and raised its FY2021 revenue guidance to $320-$350 million, indicating strong demand in Life Sciences. Adjusted EPS is forecasted between $1.70-$1.90.
Meridian Bioscience (NASDAQ: VIVO) has announced an expansion of production for its SARS-CoV-2 diagnostic test on the Revogene® platform, following a $5.5 million award from the NIH and additional funding from JobsOhio. This initiative aims to increase production at its Quebec facility and build a new state-of-the-art facility in Newtown, Ohio. The goal is to reach a capacity of 800,000 tests per month by the end of 2021, supporting the demand for COVID-19 testing amidst the pandemic.
Meridian Bioscience, Inc. (NASDAQ: VIVO) will report its first quarter fiscal 2021 financial results on February 5, 2021. CEO Jack Kenny and CFO Bryan Baldasare will host a conference call at 10:00 a.m. ET to discuss the results. Interested participants in the U.S. can call (866) 443-5802, while international callers can dial (513) 360-6924. A replay of the call will be available for 14 days starting at 1:00 p.m. ET on the same day. Meridian is a leading provider of diagnostic testing solutions and life science raw materials, operating in over 70 countries.
Meridian Bioscience (NASDAQ: VIVO) announced its participation in the H. C. Wainright Bioconnect 2021 Virtual Conference. CEO Jack Kenny will partake in a pre-recorded fireside chat available from January 11, 2021, and a live panel discussion on FDA regulations on January 12, 2021. The panel, hosted by Scott Gottlieb, will feature industry leaders including Dwight Egan and Michael Nall. Webcast links will be accessible via Meridian’s Investor Relations site. The fireside chat will be available for 90 days.
Meridian Bioscience (NASDAQ: VIVO) announced a $1M funding award from the NIH RADx initiative to expedite the launch of its SARS-CoV-2 molecular diagnostic test on the Revogene platform. The Emergency Use Authorization (EUA) application was submitted to the FDA on December 7. This funding will help develop a new assay consumable for detecting SARS-CoV-2 directly from viral transport media, optimizing clinical results. Meridian is among 47 projects advancing to Phase 1 for initial technology validation under the RADx initiative, aimed at accelerating COVID-19 testing innovation.
Meridian Bioscience, Inc. (NASDAQ: VIVO) has applied for Emergency Use Authorization (EUA) from the FDA for its SARS-CoV-2 molecular diagnostic test on the Revogene® platform. This test offers qualitative detection of the virus responsible for COVID-19 with results available in as little as 47 minutes, enhancing testing capacity for healthcare providers. This marks a milestone for the Revogene platform and supports the company’s strategy to expand its respiratory diagnostics. The test is yet to receive FDA clearance or approval.
Meridian Bioscience, a global leader in diagnostic testing solutions (NASDAQ: VIVO), has launched an innovative Air-Dryable RT-qPCR Mix. This cost-effective product allows molecular assays to be developed at ambient temperature, eliminating cold chain requirements. The new mix simplifies the manufacturing process, ensuring quick RNA target detection, making it ideal for COVID-19 assay development. It integrates all essential reagents within a one-tube format, facilitating ease of use across various testing platforms. This development positions Meridian as a key provider in the rapidly evolving molecular diagnostics industry.
Meridian Bioscience, Inc. (NASDAQ: VIVO) participated in the Piper Sandler 32nd Annual Virtual Healthcare Conference. A pre-recorded fireside chat featuring CEO Jack Kenny and CFO Bryan Baldasare was held on November 17, 2020. Investors can register for access to this chat via the Company's Investor Relations website, with recordings available until February 15, 2021. Meridian develops and distributes innovative diagnostic products for various applications, focusing on delivering accurate and rapid solutions in healthcare diagnostics globally.
Meridian Bioscience, Inc. (NASDAQ: VIVO) will host a live stream fireside chat featuring CEO Jack Kenny and CFO Bryan Baldasare at the Canaccord Genuity Virtual MedTech & Diagnostics Forum on November 19, 2020, at 12:30 PM ET. Investors can access the stream via the Company’s Investor Relations website. A recording will be available for one year post-event. Meridian is a life science company focused on innovative diagnostic products and provides crucial life science materials for various applications across over 70 countries.
Meridian Bioscience reported a 26% increase in consolidated net revenue for Q4 2020, totaling $64.2 million, and a record annual revenue of $253.7 million, attributed largely to its Life Science segment's growth of 106%.
However, the Diagnostics segment faced an 11% revenue decline year-over-year, despite a 38% rebound from Q3 FY20. The company anticipates continued strong performance in fiscal 2021, projecting revenues between $290 million and $310 million and adjusted earnings per share of $1.14 to $1.28.