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According to some analysts, the selloff in IVD company shares may be an overreaction, and SARS-CoV-2-related testing will be needed for some time in the future.
The company's system revenues were up 28 percent to $19.5 million and consumables revenues dropped 12 percent to $11.8 million.
Of the 32 companies in the index, 14 firms saw their stock prices increase, while 18 firms' share prices decreased.
The firm said it expects its molecular diagnostics revenues to double year over year with orders continuing to outstrip its supply capabilities.
Semi-quantitative SARS-CoV-2 serology tests enable users to measure levels of neutralizing antibodies, but tests need to be more comparable across manufacturers, Siemens said.
The firm will develop a new version of an assay that has received FDA EUA and provides results for up to 96 patient samples in less than four hours.
News items for in vitro diagnostics industry for the week of Sept. 14, 2020.
Healthcare providers need multiplexed tests that can differentiate the flu from the coronavirus so they can treat patients quickly and appropriately.
While the market ditched shares of many other diagnostics firms, analysts said the reaction was overblown, particularly in the case of Quidel and molecular diagnostics players.
The company said that in response to the letter, it is recalling all non-Luminex temperature verification fixtures from the field for its Verigene SP instrument.