OraSure's CEO Resigns, Commences Review Of Strategic Alternatives

OraSure's CEO Resigns, Commences Review Of Strategic Alternatives

OraSure Technologies Inc OSUR expects Q4 FY21 revenue at the low end of the Company's guidance range of approximately $60 million.

  • The Company anticipates total InteliSwab revenue of approximately $12 million for Q4 and $20 million for FY21
  • During Q4, the Company experienced challenges; hence it could not achieve its InteliSwab guidance for the fiscal year. 
  • The Company anticipates continued scaling its InteliSwab production from 4Q21 levels and will provide an additional update on its 4Q21 earnings call. 
  • Related: OraSure Q3 Sales, Without COVID Related Products, Jump 37%; Guides FY21 Sales Below Consensus.
  • OraSure is also in the process of hiring staff for additional shifts and installing additional automated equipment to increase production further.
  • Also, the OraSure Board of Directors intends to explore and evaluate strategic alternatives.
  • OraSure also announced that Stephen Tang, President, and CEO, will leave the Company on March 31, 2022. 
  • In the interim, Dr. Tang will focus primarily on assisting the board's strategic review process.
  • Price Action: OSUR shares are up 1.16% at $8.30 during the market session on the last check Wednesday.
Posted In: BriefsEarningsNewsGuidanceHealth CareSmall CapGeneral