Luminex

Investors responded to a report on Thursday that DiaSorin is considering the purchase of Luminex, one of its in vitro diagnostic testing competitors.

The firm said it intends to apply to obtain FDA Emergency Use Authorization and 510(k) clearance for a panel that detects respiratory targets in a single test.

The firm's molecular diagnostics revenues rose 49 percent year over year to $57.8 million from $38.8 million in Q4 2019.

For full-year 2020, the company expects revenues of approximately $417 million, which would be up 25 percent from a year ago.

The company's system revenues were up 28 percent to $19.5 million and consumables revenues dropped 12 percent to $11.8 million.

The firm said it expects its molecular diagnostics revenues to double year over year with orders continuing to outstrip its supply capabilities. 

While the market ditched shares of many other diagnostics firms, analysts said the reaction was overblown, particularly in the case of Quidel and molecular diagnostics players.