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For the three months ended March 31, the firm said that preliminary revenues are expected to be $36 million to $37 million compared to $31.1 million in 2020.
The company said it expects revenue growth to be approximately 57 percent year over year and non-GAAP core revenue growth to be approximately 29 percent.
The firm said that due to a negative coverage decision and capital constraints, it is evaluating options including a sale by a public takeover or an asset deal.
The firm's Q4 core revenue rose 10 percent year over year to $501 million, driven by high volumes in its Clinical Laboratory and Transfusion Medicine product portfolios.
The firm's revenue decrease was largely driven by a decline in testing volumes due to the COVID-19 pandemic, it said.
Quidel's guidance announcement cited an approximately 40 percent decrease in demand for its SARS-CoV-2 tests.
The company said that it sold 57 T2Dx instruments in 2020, including 47 in the US, more than doubling its US installed base.
The company reported $112.4 million in revenues compared to $83.2 million in Q4 2019, beating the average Wall Street estimate of $106.6 million.
GenMark said its ePlex molecular diagnostic product revenue for Q4 was $45.4 million, an increase of 138 percent over the fourth quarter of 2019.
The immune cell sequencing company beat Wall Street estimates on the top line, but missed on the bottom line for both Q4 and full-year 2020.