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Qiagen discussed what's in store after a failed bid by Thermo Fisher Scientific, and COVID-19 remained a hot topic on the second day of the virtual conference.
Test capacity, particularly for rapid antigen testing, is set to explode in Q1 2021, but home and asymptomatic assays remain few and far between.
The company is drawing on its previous experience developing and commercializing its HIV self-test to make progress on a test that could be used for three different indications.
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 firm's molecular solutions revenues increased 79 percent to $31.7 million due to COVID-19 testing demand.
The saliva collection devices are designed for use with third-party SARS-CoV-2 tests or home/self-collection kits and are not intended for sale to patients.
DNA Genotek's devices are used with SARS-CoV-2 tests from Clinical Reference Laboratory and P23 Labs, while Clinical Enterprises' kit is offered by Eurofins.
The new report said that point-of-care testing could rise to 70 million tests per month, or more, by October based on manufacturers' announced market entry plans.
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 investment bank said it believes OraSure will obtain an FDA Emergency Use Authorization for its COVID-19 antigen test that could lift its stock price.