The company plans to expand into new markets through its recent acquisition of Alere Triage assets.

Canaccord and William Blair also increased their price targets on  Quidel's shares, following its acquisition of certain Alere assets and assays.

The firm said that its Panther Fusion system expands molecular testing capabilities, and increases productivity and flexibility for labs.

Researchers are working with the Australian Ministry of Health to commercialize a diagnostic test that employs the biomarker and could be available within two to five years.

The firm's Q4 global influenza sales were up 60 percent year over year, and in 2016 its global infectious disease business achieved double-digit sales growth.

The firm noted that the receipt of a CLIA waiver markedly expands the available market for use of the Sofia 2 system in detecting influenza types A and B.

Japan's Pharmaceuticals and Medical Devices Agency approved the use of Quidel's Sofia Influenza A+B Fluorescent Immunoassay on the Sofia Fluorescent Immunoassay Analyzer.

Recent action from the FDA to reclassify certain point-of-care flu diagnostics means the agency will keep a closer eye on the tests' sensitivity and specificity.

Influenza revenues rose 112 percent due to an especially long and severe respiratory disease season, dominated by a virulent H3N2 strain of influenza.

The test runs on the firm's next-generation immunoassay platform. Quidel is also in the process of obtaining CLIA waiver for the platform and the test.