Quidel (OTC:QDEL) up 4.4% as the company expects Q2 revenues to increase more than 80% to ~$201M – $202M, compared to consensus of $172.6M, driven by demand for COVID-19 diagnostic products.
During the quarter, Quidel manufactured over 3M Lyra SARS-CoV-2 and Lyra Direct SARS-CoV-2 assays. Later in the quarter, completed the development of Sofia SARS Antigen, gained emergency use authorization clearance, and manufactured almost 4M Sofia SARS Antigen cassettes. In June shipped ~1,500 Sofia instruments.
The company expects to issue full Q2 results in late July.
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