Key Developments For OraSure Technologies, Inc.
OraSure Technologies, Inc. (OSUR.O) (Nasdaq)
OraSure Technologies, Inc. Settles Suit With Inverness Medical Innovations, Inc. and Church & Dwight Co.-Reuters
Reuters reported that OraSure Technologies, Inc. said it settled patent litigation related to certain HIV products with Inverness Medical Innovations, Inc. and Church & Dwight Co. and agreed to pay Inverness a sum of $3 million in cash. Inverness agreed to grant OraSure a non-exclusive, royalty-bearing, lateral flow patent license for the OraQuick HIV test and hepatitis C virus (HCV) test and other visually read HIV and HCV products worldwide. Inverness also granted Orasure a non-exclusive license to Inverness' patents for visually read products for the detection of certain infectious diseases, metabolic disorders, cancer and autoimmune disorders. Orasure also received non-exclusive rights to distribute certain rapid, point-of-care tests for flu, strep, drugs of abuse and pregnancy in the United States, as private label products. Additionally, Inverness got exclusive distribution rights to the OraQuick HCV test in the employee health services and home healthcare markets and in acute care clinics located in pharmacies and other mass retail outlets in the United States.
OraSure Technologies, Inc. Lowers Q4 2009 Earnings Guidance
OraSure Technologies, Inc. lowered its fourth quarter 2009 guidance and expects net loss per share to be $0.10 to $0.11. According to Reuters Estimates, analysts are expecting the Company to report EPS of $(0.07) for fourth quarter 2009.
OraSure Technologies, Inc. Issues Q4 2009 Guidance Below Analysts' Estimates
OraSure Technologies, Inc. announced that for fourth quarter 2009 it expects revenues to range from $19.0 to $19.5 million. The Company is currently projecting a loss per share for the fourth quarter of 2009 of $0.08 to $0.09. According to Reuters Estimates, analysts are expecting the Company to report revenue of $19.7 million and EPS of $(0.06) for fourth quarter 2009.
OraSure Technologies, Inc. Issues Q1 2009 Guidance; EPS Guidance Below Analysts' Estimates
OraSure Technologies, Inc. announced that for the first quarter of 2009, it expects total revenues to range from approximately $16.5 to $17.0 million and a loss per share of approximately $0.07. According to Reuters Estimates, analysts were expecting the Company to report revenue of $16.8 million and EPS of $(0.06) for the same period.
OraSure Technologies, Inc. Receives FDA Approval For OraQuick ADVANCE
OraSure Technologies, Inc. announced that the United States Food and Drug Administration (FDA) has approved its request for 12-month shelf life from the date of manufacture for its OraQuick ADVANCE Rapid HIV-1/2 Antibody Test. The FDA approval is based on enhancements made by the Company to the manufacturing process and product packaging of its OraQuick ADVANCE.
