OraSure Technologies Announces Resignation of CFO Roberto Cuca and Succession Plan
02 Settembre 2021 - 1:00PM
OraSure Technologies, Inc. (NASDAQ: OSUR), a global leader in
point-of-care testing and sample collection technologies, announced
that Chief Financial Officer Roberto Cuca has resigned from the
Company effective September 17, 2021. The Company has initiated a
search for a permanent Chief Financial Officer with the
capabilities and qualifications to support the Company’s strategic
goals. Both internal and external candidates will be evaluated.
Mr. Cuca resigned to pursue an opportunity
within the healthcare industry. Mr. Cuca’s departure is not related
to any disagreements or disputes with the management or the Board
of Directors of the Company on any matters including the Company’s
accounting principles, practices, financial statement disclosures,
or compliance procedures.
“I would like to thank Roberto for his service
to the Company and wish him well in his future endeavors,” said
OraSure President and CEO Stephen Tang, Ph.D. “We remain confident
in the outlook for the Company as we have seen significant recent
demand for our InteliSwab™ COVID-19 Rapid Test and continuing
recovery of our core businesses. As an executive team, we are also
focused on our current strategic review process with an eye toward
driving long-term growth and shareholder value.”
Scott Gleason, who currently serves as the
Senior Vice President, Investor Relations and Corporate
Communications, will serve as the interim CFO while the Company
conducts its search process. Prior to joining OraSure, Mr. Gleason
served as the Senior Vice President of Investor Relations and
Corporate Strategy for Myriad Genetics, Inc., a leading specialty
diagnostic laboratory in the United States focused on genetic
testing and precision medicine. At Myriad, he managed the investor
relations and corporate communications functions, led the annual
strategic planning process, and was a member of the Company's
strategic committee. Prior to his tenure with Myriad Genetics, Mr.
Gleason was a senior publishing analyst at Stephens, Inc., from
2005 to 2013 covering the life science tools and diagnostics
industry. Before joining Stephens, Inc., Mr. Gleason was a United
States Air Force aircraft maintenance officer and participated in
two wartime deployments. Mr. Gleason received a Bachelor of Science
degree from the U.S. Air Force Academy in Colorado Springs, CO.
About OraSure
TechnologiesOraSure Technologies empowers the global
community to improve health and wellness by providing access to
accurate, essential information. OraSure, together with its
wholly-owned subsidiaries, DNA Genotek, Diversigen, and Novosanis,
provides its customers with end-to-end solutions that
encompass tools, services and diagnostics. The OraSure family
of companies is a leader in the development, manufacture, and
distribution of rapid diagnostic tests, sample collection and
stabilization devices, and molecular services solutions designed to
discover and detect critical medical conditions. OraSure’s
portfolio of products is sold globally to clinical laboratories,
hospitals, physician’s offices, clinics, public health and
community-based organizations, research institutions, government
agencies, pharma, commercial entities and direct to consumers. For
more information on OraSure Technologies, please visit
www.orasure.com.
Important InformationThis press
release contains certain forward-looking statements, including with
respect to expected revenues, products, product development
activities, regulatory submissions and authorizations and other
matters. Forward-looking statements are not guarantees of future
performance or results. Known and unknown factors that could cause
actual performance or results to be materially different from those
expressed or implied in these statements include, but are not
limited to: ability to successfully manage and integrate
acquisitions of other companies in a manner that complements or
leverages our existing business, or otherwise expands or enhances
our portfolio of products and our end-to-end service offerings, and
the diversion of management’s attention from our ongoing business
and regular business responsibilities to effect such integration;
the expected economic benefits of acquisitions (and increased
returns for our stockholders), including that the anticipated
synergies, revenue enhancement strategies and other benefits from
the acquisitions may not be fully realized or may take longer to
realize than expected and our actual integration costs may exceed
our estimates; impact of increased or different risks arising from
the acquisition of companies located in foreign countries; ability
to market and sell products, whether through our internal, direct
sales force or third parties; impact of significant customer
concentration in the genomics business; failure of distributors or
other customers to meet purchase forecasts, historic purchase
levels or minimum purchase requirements for our products; ability
to manufacture products in accordance with applicable
specifications, performance standards and quality requirements;
ability to obtain, and timing and cost of obtaining, necessary
regulatory approvals for new products or new indications or
applications for existing products; ability to comply with
applicable regulatory requirements; ability to effectively resolve
warning letters, audit observations and other findings or comments
from the U.S. Food and Drug Administration (“FDA”) or other
regulators; the impact of the novel coronavirus (“COVID-19”)
pandemic on our business and our ability to successfully develop
new products, validate the expanded use of existing collector
products, receive necessary regulatory approvals and authorizations
and commercialize such products for COVID-19 testing; changes in
relationships, including disputes or disagreements, with strategic
partners or other parties and reliance on strategic partners for
the performance of critical activities under collaborative
arrangements; ability to meet increased demand for the Company’s
products; impact of replacing distributors; inventory levels at
distributors and other customers; ability of the Company to achieve
its financial and strategic objectives and continue to increase its
revenues, including the ability to expand international sales;
ability to identify, complete, integrate and realize the full
benefits of future acquisitions; impact of competitors, competing
products and technology changes; reduction or deferral of public
funding available to customers; competition from new or better
technology or lower cost products; ability to develop,
commercialize and market new products; market acceptance of oral
fluid or urine testing, collection or other products; market
acceptance and uptake of microbiome informatics, microbial genetics
technology and related analytics services; changes in market
acceptance of products based on product performance or other
factors, including changes in testing guidelines, algorithms or
other recommendations by the Centers for Disease Control and
Prevention (“CDC”) or other agencies; ability to fund research and
development and other products and operations; ability to obtain
and maintain new or existing product distribution channels;
reliance on sole supply sources for critical products and
components; availability of related products produced by third
parties or products required for use of our products; impact of
contracting with the U.S. government; impact of negative economic
conditions; ability to maintain sustained profitability; ability to
utilize net operating loss carry forwards or other deferred tax
assets; volatility of the Company’s stock price; uncertainty
relating to patent protection and potential patent infringement
claims; uncertainty and costs of litigation relating to patents and
other intellectual property; availability of licenses to patents or
other technology; ability to enter into international manufacturing
agreements; obstacles to international marketing and manufacturing
of products; ability to sell products internationally, including
the impact of changes in international funding sources and testing
algorithms; adverse movements in foreign currency exchange rates;
loss or impairment of sources of capital; ability to attract and
retain qualified personnel; exposure to product liability and other
types of litigation; changes in international, federal or state
laws and regulations; customer consolidations and inventory
practices; equipment failures and ability to obtain needed raw
materials and components; the impact of terrorist attacks and civil
unrest; and general political, business and economic conditions.
These and other factors that could affect our results are discussed
more fully in our SEC filings, including our registration
statements, Annual Report on Form 10-K for the year ended December
31, 2020, Quarterly Reports on Form 10-Q, and other filings with
the SEC. Although forward-looking statements help to provide
information about future prospects, readers should keep in mind
that forward-looking statements may not be reliable. Readers are
cautioned not to place undue reliance on the forward-looking
statements. The forward-looking statements are made as of the date
of this press release and OraSure Technologies undertakes no duty
to update these statements.
Investor Contact: |
|
Media Contact: |
Scott Gleason |
|
Amy Koch |
Interim CFO & SVP Investor Relations & Corp.
Communications |
|
Sr. Mgr. Corporate Communications |
484-425-0588 |
|
484-523-1815 |
sgleason@orasure.com |
|
media@orasure.com |
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