OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in
point-of-care and home diagnostic tests, specimen collection
devices, and microbiome laboratory and analytical services, today
announced its financial results for the three months ended December
31, 2021 and fiscal year 2021.
“We are pleased to have delivered record revenue from both our
Diagnostics and Molecular Solutions business units in our 2021
fiscal year,” said OraSure President and CEO Stephen Tang, Ph.D.
“InteliSwab® is an outstanding product in terms of its combination
of simplicity and accuracy, and we are excited about its growth
potential. OraSure has confirmed through an outside independent
laboratory that InteliSwab® detects the live Omicron variant at the
same level as other variants of concern. Furthermore, we received
FDA Emergency Use Authorization for our pediatric claim and for the
InteliSwab® Connect reporting app which further enhance the value
proposition of the product.”
Dr. Tang continued, “We continue to scale up InteliSwab®
production which includes plans for commissioning additional
production sites. We continue to address the many typical
challenges associated with scale up which will take time to fully
implement. Even so, we expect InteliSwab® to scale modestly in the
first quarter and then more meaningfully throughout the year. In
addition, we continue to execute our multi-omic strategy which
drove 35% year-over-year growth in Molecular Solutions, and have
aggressive plans to continue expanding our product offerings in the
coming years. As we look ahead, I remain confident in our team’s
ability to deliver strong growth and improving operating
performance.”
Financial Highlights
- Net revenues for the fourth quarter
of 2021 were $63.6 million, a 1% increase from the fourth
quarter of 2020. Excluding COVID-19 product revenues, revenues for
the quarter increased 3% year-over-year.
- Total revenues from the Company’s
Diagnostic business unit were $32.7 million during the fourth
quarter of 2021 and grew 58% relative to the same period last year.
Revenue growth was driven entirely by the increase in InteliSwab®
revenue on a year-over-year basis.
- Total product and service revenues
for the Company’s Molecular Solutions business unit were $30.9
million during the fourth quarter of 2021, a decline of 27%
from the fourth quarter of 2020. The decline was driven entirely by
lower sales of the Company’s COVID-19 molecular collection kits.
Excluding these COVID-19 revenues, the molecular solutions business
grew 19% year-over-year despite changes in ordering patterns from
the Company’s direct-to-consumer customers.
- Gross margin percentage in the
fourth quarter was 42.7% compared to 60.7% in the prior year. Gross
margins were negatively impacted by inefficiencies in the
InteliSwab® manufacturing process as the Company worked through
initial process automation start up and scale up. Additionally,
gross margins were negatively impacted by the expiration of the
Bill and Melinda Gates Foundation subsidy for international
OraQuick® HIV self-tests and a less favorable product mix. Gross
margins were positively impacted from the impact of the employee
retention credit under the CARES Act in the quarter.
- Operating loss in the fourth
quarter was ($9.4) million compared to operating income of $7.9
million in the fourth quarter of last year. OraSure’s operating
loss in the quarter was driven by a ramp in investments to support
the InteliSwab® launch, along with lower gross margins as described
above. On a sequential basis, operating profit improved by $3.6
million.
- Net loss for the fourth quarter of
2021 was ($10.4) million, or ($0.14) per share on a fully
diluted basis, compared to a net income of $1.9 million,
or $0.03 per share on a fully-diluted basis, for the
fourth quarter of 2020.
- Cash flow used in operations in the
quarter was ($12.8) million. Cash and investments
totaled $170.0 million at December 31, 2021. As of
December 31, 2021, the Company also had $10.9 million in funds
committed to the capacity expansion build out associated with the
Department of Defense contract which should be reimbursed in the
first quarter of fiscal year 2022.
Recent Business Highlights
InteliSwab® COVID-19
Testing
- InteliSwab® revenue in the quarter grew to $14.7 million
representing 92% sequential growth relative to the third
quarter.
- OraSure has been scaling its weekly
manufacturing production for InteliSwab®. At the end of the
fourth-quarter, OraSure restructured its business units to
vertically integrate operations within them, and appointed a
President with a track record of successful leadership of
large-scale manufacturing operations.
- To accelerate production scale up,
OraSure has hired an operations consulting firm used by NIH RADx
with deep expertise in manufacturing scale up in med tech and
diagnostics.
- OraSure announced that its
InteliSwab® COVID-19 rapid tests have been authorized by the
U.S. Food and Drug Administration (FDA) for use in children ages 2
to 14. InteliSwab® was previously authorized for self-testing
use in adults and in children 15 to 17 when administered by an
adult.
- The Company launched a new
reporting app, InteliSwab® Connect, which will allow people to
easily save their test results and report them to public health
authorities, helping communities with COVID-19 prevalence
surveillance efforts. It can also help employers track prevalence
in the workplace. The app will be available on the Apple App Store
and via Google Play.
- OraSure announced that the
InteliSwab® COVID-19 rapid tests detect the Omicron variant as
effectively as they detect the original SARS-CoV-2 strain and other
previous variants of concern, including Delta, Alpha, Beta and
Gamma.
Infectious Disease and Risk Assessment
Testing
- Global OraQuick® HIV sales in the
fourth quarter were $12.4 million versus $15.2 million in the prior
year period. The decline in revenue was predominantly attributable
to the international market which was impacted by two factors.
First, international HIV revenue was negatively impacted by the
expiration of the Bill and Melinda Gates Foundation test subsidy
which occurred in June 2021. Second, the global coronavirus
pandemic created logistic delays in shipping our HIV self-tests
into numerous countries.
- The Company launched the OraQuick®
HIV Self-Test, an oral swab in-home test for HIV-1 and HIV-2, into
Europe. The test will be available in six European countries:
United Kingdom, Germany, France, Italy, Spain and Portugal.
- Global OraQuick® HCV sales
increased 7% to $2.4 million in the fourth quarter compared to $2.2
million in the fourth quarter of 2020.
- Risk assessment testing revenue was
flat year-over-year at $2.4 million primarily due to increased
workplace drugs-of-abuse testing offset by continued challenges in
insurance testing given the COVID-19 pandemic.
Molecular Solutions
- Genomics collection kit revenue of
$14.0 million for the fourth quarter of 2021 grew 3% year-over-year
despite changes in ordering patterns with many direct-to-consumer
companies purchasing larger kit quantities in the third quarter
prior to the fourth quarter promotional season. For the full year,
genomic kit revenue grew 72% to $63.4 million demonstrating strong
growth from existing customers, new customer expansion, and a
recovery in clinical and academic markets following global
pandemic.
- Sales of OraSure’s sample
collection devices for molecular/PCR COVID-19 testing decreased
year-over-year to $8.0 million in the fourth quarter of 2021
compared to $22.9 million in the prior year period. The decline in
revenue is attributable to lower testing volumes with core
customers as the market transitions to point-of-care solutions such
as rapid antigen tests.
- Total microbiome revenue, including
kits and services, was $5.9 million in the quarter and grew 65%
relative to the fourth quarter of last year.
- OraSure’s Diversigen business now
supports over 50 commercial customers including over 30
biopharmaceutical customers with 20 ongoing clinical trials.
- The Company announced the planned
launch of a new gut metatranscriptome collection kit in first half
2022, to complement the gut metatranscriptome service offering from
our Diversigen business launched in the fourth quarter of
2021.
- Orasure received the first and only
U.S. FDA clearance of a new collection kit for gut microbiome which
the company plans to launch commercially in the first half of
fiscal year 2022.
Strategic Alternatives Review and Fiscal
Year 2022 and First Quarter 2022 Financial Guidance
On January 5, 2022, the Company announced it is
exploring strategic alternatives. The review is ongoing, and no
decision has been made. Accordingly, the Company is not providing
fiscal year 2022 or first-quarter 2022 financial guidance at this
time.
Financial Data (Unaudited)
|
Three Months Ended |
|
Year Ended |
|
December 31, |
|
December 31, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Results of Operations |
|
|
|
|
|
|
|
Net revenues |
$ |
63,568 |
|
|
$ |
62,855 |
|
|
$ |
233,674 |
|
|
$ |
171,721 |
|
Cost of products and services sold |
|
36,435 |
|
|
|
24,671 |
|
|
|
116,074 |
|
|
|
69,853 |
|
Gross profit |
|
27,133 |
|
|
|
38,184 |
|
|
|
117,600 |
|
|
|
101,868 |
|
Operating expenses: |
|
|
|
|
|
|
|
Research and development |
|
8,900 |
|
|
|
10,457 |
|
|
|
34,170 |
|
|
|
31,032 |
|
Sales and marketing |
|
10,915 |
|
|
|
9,120 |
|
|
|
44,751 |
|
|
|
34,459 |
|
General and administrative |
|
16,648 |
|
|
|
12,211 |
|
|
|
50,328 |
|
|
|
42,653 |
|
Change in fair value of acquisition-related contingent
consideration |
|
41 |
|
|
|
(1,489 |
) |
|
|
(1,485 |
) |
|
|
(1,099 |
) |
Total operating expenses |
|
36,504 |
|
|
|
30,299 |
|
|
|
127,764 |
|
|
|
107,045 |
|
Operating income (loss) |
|
(9,371 |
) |
|
|
7,885 |
|
|
|
(10,164 |
) |
|
|
(5,177 |
) |
Other income |
|
443 |
|
|
|
(307 |
) |
|
|
872 |
|
|
|
1,653 |
|
Income (loss) before income taxes |
|
(8,928 |
) |
|
|
7,578 |
|
|
|
(9,292 |
) |
|
|
(3,524 |
) |
Income tax expense |
|
1,465 |
|
|
|
5,718 |
|
|
|
13,706 |
|
|
|
11,398 |
|
Net income (loss) |
$ |
(10,393 |
) |
|
$ |
1,860 |
|
|
$ |
(22,998 |
) |
|
$ |
(14,922 |
) |
Earnings (loss) per share: |
|
|
|
|
|
|
|
Basic |
$ |
(0.14 |
) |
|
$ |
0.03 |
|
|
$ |
(0.32 |
) |
|
$ |
(0.22 |
) |
Diluted |
$ |
(0.14 |
) |
|
$ |
0.03 |
|
|
$ |
(0.32 |
) |
|
$ |
(0.22 |
) |
Weighted average shares: |
|
|
|
|
|
|
|
Basic |
|
72,040 |
|
|
|
71,723 |
|
|
|
71,981 |
|
|
|
67,505 |
|
Diluted |
|
72,040 |
|
|
|
72,817 |
|
|
|
71,981 |
|
|
|
67,505 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Year Ended |
|
|
December 31, |
|
|
December 31, |
|
|
2021 |
|
2020 |
|
% Change |
|
|
2021 |
|
2020 |
|
% Change |
|
DIAGNOSTICS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Infectious Disease Testing Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic HIV |
$ |
3,773 |
|
|
$ |
3,861 |
|
|
(2 |
) |
% |
|
$ |
16,641 |
|
$ |
15,184 |
|
|
10 |
|
% |
International HIV |
|
8,626 |
|
|
|
11,343 |
|
|
(24 |
) |
|
|
|
25,503 |
|
|
29,040 |
|
|
(12 |
) |
|
Net HIV revenues |
|
12,399 |
|
|
|
15,204 |
|
|
(18 |
) |
|
|
|
42,144 |
|
|
44,224 |
|
|
(5 |
) |
|
Domestic HCV |
|
1,301 |
|
|
|
1,356 |
|
|
(4 |
) |
|
|
|
6,881 |
|
|
4,793 |
|
|
44 |
|
|
International HCV |
|
1,100 |
|
|
|
884 |
|
|
24 |
|
|
|
|
4,902 |
|
|
3,655 |
|
|
34 |
|
|
Net HCV revenues |
|
2,401 |
|
|
|
2,240 |
|
|
7 |
|
|
|
|
11,783 |
|
|
8,448 |
|
|
39 |
|
|
Net OraQuick® revenues |
|
14,800 |
|
|
|
17,444 |
|
|
(15 |
) |
|
|
|
53,927 |
|
|
52,672 |
|
|
2 |
|
|
COVID-19 |
|
14,770 |
|
|
|
118 |
|
|
NM |
|
|
|
|
22,707 |
|
|
180 |
|
|
NM |
|
|
Other infectious disease revenues |
|
183 |
|
|
|
158 |
|
|
16 |
|
|
|
|
718 |
|
|
1,555 |
|
|
(54 |
) |
|
Total Infectious Disease |
|
29,753 |
|
|
|
17,720 |
|
|
68 |
|
|
|
|
77,352 |
|
|
54,407 |
|
|
42 |
|
|
Risk Assessment |
|
2,406 |
|
|
|
2,408 |
|
|
— |
|
|
|
|
9,678 |
|
|
9,194 |
|
|
5 |
|
|
Other non-product revenues |
|
509 |
|
|
|
580 |
|
|
(12 |
) |
|
|
|
3,010 |
|
|
1,639 |
|
|
84 |
|
|
TOTAL DIAGNOSTIC NET REVENUE |
|
32,668 |
|
|
|
20,708 |
|
|
58 |
|
|
|
|
90,040 |
|
|
65,240 |
|
|
38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MOLECULAR SOLUTIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Genomics |
$ |
14,017 |
|
|
$ |
13,655 |
|
|
3 |
|
|
|
$ |
63,350 |
|
$ |
36,878 |
|
|
72 |
|
|
Microbiome |
|
2,050 |
|
|
|
1,605 |
|
|
28 |
|
|
|
|
7,944 |
|
|
5,474 |
|
|
45 |
|
|
COVID-19 |
|
7,964 |
|
|
|
22,892 |
|
|
(65 |
) |
|
|
|
54,167 |
|
|
50,747 |
|
|
7 |
|
|
Laboratory services |
|
3,824 |
|
|
|
1,949 |
|
|
96 |
|
|
|
|
11,840 |
|
|
8,746 |
|
|
35 |
|
|
Other product and services revenues |
|
1,334 |
|
|
|
180 |
|
|
641 |
|
|
|
|
2,566 |
|
|
935 |
|
|
174 |
|
|
Net product and service revenues |
|
29,189 |
|
|
|
40,281 |
|
|
(28 |
) |
|
|
|
139,867 |
|
|
102,780 |
|
|
36 |
|
|
Other non-product and service revenues |
|
1,711 |
|
|
|
1,866 |
|
|
(8 |
) |
|
|
|
3,767 |
|
|
3,701 |
|
|
2 |
|
|
TOTAL MOLECULAR SOLUTIONS NET REVENUE |
|
30,900 |
|
|
|
42,147 |
|
|
(27 |
) |
|
|
|
143,634 |
|
|
106,481 |
|
|
35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL NET REVENUES |
$ |
63,568 |
|
|
$ |
62,855 |
|
|
1 |
|
% |
|
$ |
233,674 |
|
$ |
171,721 |
|
|
36 |
|
% |
Condensed Consolidated Balance Sheets
(Unaudited) |
|
|
|
December 31, 2021 |
|
December 31, 2020 |
Assets |
|
|
|
Cash and cash equivalents |
$ |
116,762 |
|
$ |
160,802 |
Short-term investments |
|
36,279 |
|
|
48,599 |
Accounts receivable, net |
|
64,952 |
|
|
38,835 |
Inventories |
|
53,138 |
|
|
31,863 |
Other current assets |
|
17,300 |
|
|
8,794 |
Property, plant and equipment, net |
|
88,164 |
|
|
51,860 |
Intangible assets, net |
|
14,343 |
|
|
17,904 |
Goodwill |
|
40,279 |
|
|
40,351 |
Long-term investments |
|
17,009 |
|
|
47,718 |
Other non-current assets |
|
12,764 |
|
|
7,746 |
Total assets |
$ |
460,990 |
|
$ |
454,472 |
|
|
|
|
Liabilities and Stockholders’ Equity |
|
|
|
Accounts payable |
$ |
28,024 |
|
$ |
17,407 |
Deferred revenue |
|
2,936 |
|
|
4,811 |
Contingent consideration obligation |
|
206 |
|
|
402 |
Other current liabilities |
|
36,898 |
|
|
23,869 |
Non-current contingent consideration obligation |
|
354 |
|
|
2,049 |
Other non-current liabilities |
|
12,039 |
|
|
7,363 |
Stockholders’ equity |
|
380,533 |
|
|
398,571 |
Total liabilities and stockholders’ equity |
$ |
460,990 |
|
$ |
454,472 |
Additional Financial Data (Unaudited) |
Year Ended |
|
December 31, |
|
2021 |
|
2020 |
Capital expenditures |
$ |
48,117 |
|
|
$ |
26,674 |
Depreciation and amortization |
$ |
11,658 |
|
|
$ |
9,387 |
Stock-based compensation |
$ |
7,807 |
|
|
$ |
7,139 |
Cash (used in) provided by operating activities |
$ |
(35,382 |
) |
|
$ |
5,807 |
Conference Call
The Company will host a conference call and
audio webcast for analysts and investors to discuss the Company’s
fourth quarter 2021 results and certain business developments,
beginning today at 5:00 p.m. Eastern Time (2:00 p.m.
Pacific Time). On the call will be Dr. Stephen S.
Tang, President and Chief Executive Officer, Lisa
Nibauer, President Diagnostics, Kathleen Weber, President Molecular
Solutions, and Scott Gleason, Interim Chief Financial Officer. The
call will include prepared remarks by management and a question and
answer session.
In order to listen to the conference call,
please dial (888) 771-4371 (Domestic) or (847) 585-4405
(International) and reference Conference ID # 50277718 or go to
OraSure Technologies’ web site, www.orasure.com, and click on
the Investor Relations page. Please click on the webcast link and
follow the prompts for registration and access 10 minutes prior to
the call. A replay of the call will be archived on OraSure
Technologies’ web site shortly after the call has ended and will be
available for 14 days. A replay of the call can also be accessed
until midnight, March 9, 2022, by dialing 855-859-2056 (Domestic)
or 404-537-3406 (International) and entering the Conference ID #
50277718.
It is recommended to dial-in at most 15 to 20
minutes prior to the call start to reduce waiting times. If a
participant will be listen-only, they are encouraged to listen via
the webcast on OraSure’s Investor Relations page.
About InteliSwab®OraSure has received Emergency
Use Authorizations (EUA) from the FDA for its
InteliSwab® COVID-19 rapid tests. The FDA has authorized the
InteliSwab® COVID-19 Rapid Test for Over-the-Counter (OTC) use
without a prescription. The FDA has also authorized the
InteliSwab® COVID-19 Rapid Test Pro for professional use in
point of care (POC) CLIA-waived settings, and the
InteliSwab® COVID-19 Rapid Test Rx for Prescription Home Use.
These remarkably simple COVID-19 lateral flow tests use samples
self-collected from the lower nostrils. InteliSwab®’s unique design
incorporates a built-in swab fully integrated into the test stick.
After users swab their lower nostrils, the test stick is swirled in
a pre-measured buffer solution, and the result appears right on the
test stick within 30 minutes, with no instruments, batteries,
smartphone or laboratory analysis needed to see the result. With
less than one minute of “hands-on time,” it is as simple as “Swab,
Swirl, and See.”
This product has not been FDA cleared or approved, but it has
been authorized by the FDA under an EUA. The emergency use of this
product has been authorized only for the detection of proteins from
SARS-CoV-2, not for any other viruses or pathogens. This product is
only authorized for the duration of the declaration that
circumstances exist justifying the authorization of emergency use
of in vitro diagnostics for detection and/or diagnosis of COVID-19
under Section 564(b)(1) of the Federal Food, Drug and Cosmetic Act,
21 U.S.C. § 360bbb- 3(b)(1), unless the declaration is terminated
or authorization is revoked sooner.
Multiple government agencies, including the U.S. Department of
Defense (DoD) and Department of Health and Human Services (HHS) are
working to address COVID-19 testing needs. Development of the
InteliSwab® COVID-19 Rapid Test has been funded in whole or in
part with federal funds from the HHS; the Office of the Assistant
Secretary for Preparedness and Response; Biomedical Advanced
Research and Development Authority, Division of Research,
Innovation and Ventures under contract numbers 75A50120C00061 and
75A50121C00078, utilizing Health Care Enhancement Act (HCEA)
funding. The DoD's Defense Assisted Acquisition (DA2) Cell led the
manufacturing expansion effort for the InteliSwab® COVID-19
rapid test in coordination with the Department of the Air Force’s
Acquisition COVID-19 Task Force (DAF ACT). The manufacturing effort
was funded through the American Rescue Plan Act (ARPA) to enable
and support domestic industrial base expansion for critical medical
resources.
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 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: risk that the Company's
exploration of strategic alternatives may not result in any
definitive transaction or enhance stockholder value and may create
a distraction or uncertainty that may adversely affect operating
results, business or investor perceptions; the diversion of
management’s attention from the Company's ongoing business and
regular business responsibilities due to the Company's exploration
of strategic alternatives; ability to resolve the Company's ongoing
manufacturing challenges and satisfy customer demand; 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 the Company's business and 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; 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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