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The firm's revenues were stronger than expected, due primarily to demand for its COVID-19 molecular diagnostic and rapid immunoassay products.
Of the 28 companies in the index, 21 firms saw their stock prices increase throughout the first half of the year, while seven firms' share prices decreased.
News items for the in vitro diagnostics industry for the week of June 8, 2020.
Quidel received funding to develop a four-analyte antigen test to run on the firm's Sofia 2 point-of-care multiplex platform.
Of the 28 companies in the index, 21 firms saw their stock prices increase, while seven firms' share price decreased.
The firm also received the CE mark for the test, which uses a reformulated buffer and takes less time to process than a test requiring an RNA extraction step.
Only 2.5 percent of Americans have been tested for COVID-19, even as industry scrambles to increase testing capacity and a second wave of cases may hit in the fall.
Tests that previously received FDA EUAs are either molecular, detecting viral nucleic acid, or serology tests that detect antibodies to the novel coronavirus.
Currently under development by a number of IVD firms, these protein tests offer quick turnaround, ease of use, and amenability to large scale production.
The firm's influenza testing revenue reached record highs in January and February, and continued at a high level throughout the end of the quarter.