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Quidel and Accelerate Diagnostics had the biggest declines in their share prices as the Index lagged behind the broader markets.
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.
Of the 32 companies in the index, 14 firms saw their stock prices increase, while 18 firms' share prices decreased.
Quidel expects to launch at least four new products over the next year and commented on its overall COVID-19 strategy, as well as R&D plans, M&A possibilities, and other updates.
The firm reported $57.8 million in revenues for its Lyra SARS-CoV-2 molecular diagnostic assays in the quarter.
The Italian diagnostics firm believes its test can ID patients with high viral loads rapidly who need to be treated quickly.
The test is the first rapid antigen, point-of-care test for all three viruses to receive EUA. It runs on Quidel's Sofia 2 Fluorescent Immunoassay Analyzer.
Quidel's preliminary earnings more than doubled over the prior quarter on increasing SARS-CoV-2 test sales.
Of the 32 companies in the index, 21 firms saw their stock prices increase, while 11 firms' share prices decreased.
Federal mandates requiring frequent SARS-CoV-2 testing for nursing home employees and significant purchases of rapid antigen tests from HHS have raised concerns about capacity.