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Quidel Gains on Statement its Testing Kits Are Effective Detecting Omicron Variant -Breaking

by Mike Robinson

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© Reuters

By Dhirendra Tripathi

Investing.com – Quidel stock (NASDAQ:) traded 2% higher in Wednesday’s premarket after the company said its testing kits are able to detect omicron, the coronavirus variant that’s raging across the world, resulting in record levels of infection.

Quidel claimed that live virus was used in additional testing to prove its QuickVue as well as Sofia SARS antigens were able detect Omicron live variants with the same efficacy and effectiveness.

The company performed the additional tests after the FDA backed the company’s QuickVue antigen tests that used heat-inactivated omicron samples.   

Quidel indicated that the company continues to grow its weekly production of Covid-19 Antigen Tests to reach more people.

As the third year of the pandemic approaches, the number of new cases has reached an all-time high in the United States. The number of cases in the United States surpassed 267,000 on Tuesday. However, hospitalization levels are still below their peak level for early 2021. In many countries, the omicron dominates delta. The immunity it offers will allow the deathlier mutant to be eliminated.

Quidel’s stock has come under increasing pressure during the past four sessions due to its planned purchase of Ortho Clinical Diagnostics. (NASDAQ:). This raised concerns of higher equity dilution.

 

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